Utah § 61-1-11.1 - Hearings for certain exchanges of securities.
Full text of Utah Utah Code § 61-1-11.1 — Hearings for certain exchanges of securities., with citation guidance and answers to common questions.
§ 61-1-11.1. Hearings for certain exchanges of securities.
61-1-11.1.
Hearings for certain exchanges of securities.
(1)
An application may be made to the division for approval to issue securities or to deliver other consideration in exchange for:
(a)
one or more outstanding securities, claims, or property interests; or
(b)
partly in exchange for one or more outstanding securities, claims, or property interests, and partly for cash.
(2)
The director may:
(a)
hold a hearing upon the fairness of the terms and conditions of an exchange described in Subsection (1); and
(b)
approve or disapprove the terms and conditions of an exchange described in Subsection (1).
(3)
After conducting a hearing under this section, if the director finds that the terms and conditions of an exchange described in Subsection (1) are fair to those to whom the securities will be issued, the director may:
(a)
approve the fairness of the terms and conditions of the exchange described in Subsection (1); and
In a hearing under this section, all persons to whom it is proposed to issue securities or to deliver other consideration in an exchange under Subsection (1) may appear.
(5)
An application under Subsection (1) shall contain the information and be accompanied by the documents required by rule or order of the division.
(6)
A person filing an application under Subsection (1) shall pay a filing fee as determined under Section 61-1-18.4.
(7)
An applicant under this section shall provide adequate notice of any hearing under this section to all persons that have a right to appear, under Subsection (4), at the hearing.
(8)
An application may be made under this section regardless of whether the security or transaction being issued is:
This section is intended to provide for a fairness hearing that satisfies the requirements of Securities Act of 1933, Section 3(a)(10), 15 U.S.C. Section 77c(a)(10), or any comparable section that may subsequently be enacted.
Section 61-1-11.1 ("Hearings for certain exchanges of securities.") 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 § 61-1-11.1?
A common citation format is "Utah Code § 61-1-11.1" (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 § 61-1-11.1 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.
