Utah Code § 48-1d-1305

Current through the 2024 Fourth Special Session
Section 48-1d-1305 - Limit of one profession
(1) A professional services partnership organized to provide a professional service under this part may provide only:
(a) one specific type of professional service; and
(b) services ancillary to the professional service described in Subsection (1)(a).
(2) A professional services partnership organized to provide a professional service under this part may not engage in a business other than to provide:
(a) the professional service that it was organized to provide; and
(b) services ancillary to the professional service described in Subsection (2)(a).
(3) Notwithstanding Subsections (1) and (2), a professional services partnership may:
(a) own real and personal property necessary or appropriate for providing the type of professional service it was organized to provide; and
(b) invest the professional services partnership's money in one or more of the following:
(i) real estate;
(ii) mortgages;
(iii) stocks;
(iv) bonds; or
(v) another type of investment.

Utah Code § 48-1d-1305

Amended by Chapter 189, 2014 General Session ,§ 100, eff. 5/13/2014.
Added by Chapter 412, 2013 General Session ,§ 135, eff. 1/1/2014.