Utah § 61-6-5 - Issuing public corporation defined.

Full text of Utah Utah Code § 61-6-5 — Issuing public corporation defined., with citation guidance and answers to common questions.

§ 61-6-5. Issuing public corporation defined.

61-6-5.  Issuing public corporation defined.
(1) As used in this chapter, "issuing public corporation" means a corporation, other than a depository institution, that is organized under the laws of this state and that has:
(a) 100 or more shareholders;
(b) its principal place of business, its principal office, or substantial assets within the state; and
(c)
(i) more than 10% of its shareholders resident in the state;
(ii) more than 10% of its shares owned by Utah residents; or
(iii) 10,000 shareholders resident in the state.
(2) The residence of a shareholder is presumed to be the address appearing in the records of the corporation.
(3) Shares held by banks or other depository institutions (except as trustee or guardian), brokers, or nominees shall be disregarded for purposes of calculating the percentages or numbers described in this section.
(4) As used in this chapter, "depository institution" means a depository institution or a depository institution holding company as defined in Section 7-1-103.
(5) A nonprofit corporation as defined in Section 16-6a-102 is not considered to be an issuing public corporation for purposes of this chapter.


Amended by Chapter 315, 2007 General Session

Source: official Utah text · Last verified 2026-08-27

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Frequently Asked Questions About Utah § 61-6-5

What does Utah Code § 61-6-5 cover?

Section 61-6-5 ("Issuing public corporation defined.") 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 § 61-6-5?

A common citation format is "Utah Code § 61-6-5" (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 § 61-6-5 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

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