67-4a-602 - Businesses not to circumvent requirements of chapter. - Utah Statutes

67-4a-602. Businesses not to circumvent requirements of chapter.
A corporation or business may not, through its articles of incorporation, by-laws, byprivate agreement, or otherwise, circumvent the unclaimed property process established by thischapter by making a private escheat that would:
(1) take or divert funds or personal property into income;
(2) divide funds or personal property among locatable patrons or stockholders;
(3) place funds or personal property in education or other funds; or
(4) divert funds or personal property by any other type of appropriation.

Enacted by Chapter 198, 1995 General Session