Utah § 3a-1111 - Purchase of interest upon death, incapacity, or disqualification of member. (Renumbered 10/1/2026)
Full text of Utah Utah Code § 3a-1111 — Purchase of interest upon death, incapacity, or disqualification of member. (Renumbered 10/1/2026), with citation guidance and answers to common questions.
§ 3a-1111. Purchase of interest upon death, incapacity, or disqualification of member. (Renumbered 10/1/2026)
Renumbered 10/1/2026
48-3a-1111. Purchase of interest upon death, incapacity, or disqualification of member.
| (2) | In the absence of a provision described in Subsection (1), a professional services company shall purchase the interest of a member who is deceased, incapacitated, or no longer qualified to own an interest in the professional services company within 90 days after the day on which the professional services company is notified of the death, incapacity, or disqualification. |
| (3) | If a professional services company purchases a member's interest under Subsection (2), the professional services company shall purchase the interest at a price that is the reasonable fair market value as of the date of death, incapacity, or disqualification. |
| (4) |
If a professional services company fails to purchase a member's interest as required by Subsection (2) at the end of the 90-day period described in Subsection (2), the following persons may bring an action in a court with jurisdiction under Title 78A, Judiciary and Judicial Administration, to enforce Subsection (2):
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| (5) |
A court in which an action is brought under Subsection (4) may:
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| (6) | If a person described in Subsections (4)(a) through (c) is successful in an action under Subsection (4), the court shall award the person reasonable attorney's fees and costs. |
Renumbered and Amended by Chapter 92, 2026 General Session
Amended by Chapter 401, 2023 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 3a-1111
What does Utah Code § 3a-1111 cover?
Section 3a-1111 ("Purchase of interest upon death, incapacity, or disqualification of member. (Renumbered 10/1/2026)") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 3a-1111?
A common citation format is "Utah Code § 3a-1111" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 3a-1111 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.