9-4-907 - Disclosure of interest. - Utah Statutes

9-4-907. Disclosure of interest.
(1) Any trustee, officer, or employee of the corporation who has, will have, or lateracquires an interest, direct or indirect, in any transaction with the corporation shall immediatelydisclose the nature and extent of that interest in writing to the corporation as soon as he hasknowledge of the actual or prospective interest.
(2) (a) This disclosure shall be entered upon the minutes of the corporation.
(b) Upon the disclosure, that trustee, officer, or employee may participate in any actionby the corporation authorizing the transaction.

Amended by Chapter 319, 2001 General Session