Utah Withdrawal of Registration (Foreign) is a procedure for foreign companies registered in Utah to discontinue their registration in the state. It is also referred to as a foreign corporation dissolution. The two types of Utah Withdrawal of Registration (Foreign) are voluntary and involuntary. Voluntary withdrawal is initiated by the foreign corporation filing a Certificate of Withdrawal with the Utah Division of Corporations and Commercial Code. The filing must include the name of the corporation, the date of filing, the state or country of incorporation, and the name and address of the filing officer. Involuntary withdrawal occurs when the Utah Division of Corporations and Commercial Code initiates action against the foreign corporation. This can happen if the corporation has failed to file a required report or pay an applicable fee. The Division will issue a notice to the foreign corporation, giving the corporation a period of time to resolve the issue. If the issue is not resolved, the Division can take action to involuntarily withdraw the corporation’s registration. In both voluntary and involuntary withdrawal, the foreign corporation will no longer be allowed to do business in the state of Utah.
Utah Withdrawal of Registration (Foreign)
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FAQ
With a Series LLC, a holding company can hold all individual businesses under a single umbrella while mitigating the risk of one business' assets being used to satisfy the debts or liabilities incurred by another of its businesses.
A Foreign Series Limited Liability Company is formed by one or more individuals or entities through a special written agreement. The agreement details the organization of the LLC including: provisions for management, assignability of interests, and distribution of profits or losses.
A Foreign Profit Corporation is organized and chartered under the laws of another state, government, or country. You are always encouraged to consult an attorney to ensure appropriate consideration of all the legal implications of your choice of entity and filing.
The main difference between a series LLC and a traditional LLC is in terms of liability and exposure. In a suit filed against a traditional LLC, all assets are available. In a suit filed against a Series LLC, only the assets within the specific ?cell? being sued are available.
A Foreign Series Limited Liability Company is formed by one or more individuals or entities through a special written agreement. The agreement details the organization of the LLC including: provisions for management, assignability of interests, and distribution of profits or losses.
If you want to make sure your assets have good, solid protection, it's a much better idea to avoid corporate structures that don't provide reliable protection. Avoid series LLCs as a form of protection until a definitive case law is established and rely instead on known, tested entities such as individual LLCs.
You can register a foreign (out-of-state) corporation in California by filing a Statement and Designation by Foreign Corporation (Form S&DC-S/N), along with a Certificate of Good Standing, to the Secretary of State's office.
When used in the context of American corporate law, a foreign LLC means it conducts business in a state other than the one where it was originally registered. It does not refer to entities headquartered in other countries.