ARTICLE XXXIII. - OFFENSES REGARDING CORPORATE FRAUD
Part of the Code of Ordinances of Minersville, UT.
The text
Footnotes:
--- (17) --- State Law reference— Corporation frauds, U.C.A. 1953, § 76-10-701 et seq.
Sec. 14-1033. - Definitions.#
The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:
Bona fide stockholder of record means a stockholder of record who has acquired stock in good faith and is acting for a proper purpose reasonably related to his interests as a stockholder.
Director means any of the persons having by law the direction or management of the affairs of a corporation, by whatever name the persons are described in its charter or known by law.
(Code 1981, § 13-1070-1)
State Law reference— Similar provisions, U.C.A. 1953, § 76-10-701.
Sec. 14-1034. - Fraudulent signing of share subscriptions.#
Every person who signs the name of a fictitious person to any subscription for, or agreement to take, shares in any corporation existing or proposed, and every person who signs to any subscription or agreement the name of any person, knowing that the person has no means or does not intend in good faith to comply with all the terms thereof, or under any understanding or agreement that the terms of the subscription or agreement are not to be complied with or enforced, is guilty of a Class B misdemeanor.
(Code 1981, § 13-1070-2)
State Law reference— Similar provisions, U.C.A. 1953, § 76-10-702.
Sec. 14-1035. - Misrepresenting person as officer, agent, member or promoter.#
Every person who, without being authorized so to do, subscribes the name of another to, or inserts the name of another in, any prospectus, circular, or other advertisement or announcement of any corporation or joint stock association, existing or intended to be formed, with intent to permit it to be published, and thereby to lead persons to believe that the person whose name is so subscribed is an officer, agent, member or promoter of such corporation or association, is guilty of a Class B misdemeanor.
(Code 1981, § 13-1070-4)
State Law reference— Similar provisions, U.C.A. 1953, § 76-10-704.
Sec. 14-1036. - Concurrence by director in dividend or division of capital in violation of law.#
Every director of any stock corporation except savings and loan or building and loan associations who concurs in any vote or act of the directors of the corporation or any of them, by which it is intended either: (1)
To make any dividend except as permitted by U.C.A. 1953, tit. 16, ch. 10a, the Utah Revised Business Corporation Act; or
(2)
To divide, withdraw, or in any manner pay to the stockholders, or any of them, any part of the stated capital of the corporation except as permitted by the Utah Revised Business Corporation Act is guilty of a Class B misdemeanor.
(Code 1981, § 13-1070-5)
State Law reference— Similar provisions, U.C.A. 1953, § 76-10-705.
Sec. 14-1037. - False reports.#
Every director, officer, or agent of any corporation of joint stock association who knowingly makes or concurs in making or publishing any written report, exhibit, or statement of its affairs or pecuniary condition, containing any material statement which is false is guilty of a Class B misdemeanor.
(Code 1981, § 13-1070-7)
State Law reference— Similar provisions, U.C.A. 1953, § 76-10-707.
Sec. 14-1038. - Refusing inspection of books.#
Every officer or agent of any corporation having or keeping an office, who has in his custody or control the books of such corporation, and who refuses to give a bona fide stockholders of record or member of the corporation, lawfully demanding during office hours, the right to inspect or take a copy of it or of any part thereof, is guilty of a Class B misdemeanor.
(Code 1981, § 13-1070-8)
State Law reference— Similar provisions, U.C.A. 1953, § 76-10-708.
Sec. 14-1039. - Presumption of director's knowledge of affairs.#
Every director of a corporation or joint stock association is deemed to possess a knowledge of the affairs of his corporation as to enable him to determine whether any act, proceeding, or omission of its directors is a violation of this article.
(Code 1981, § 13-1070-9)
State Law reference— Similar provisions, U.C.A. 1953, § 76-10-709.
Sec. 14-1040. - Presumption of director's concurrence in action if present at meeting; written dissent required.#
Every director of a corporation or joint stock association who is present at a meeting of the directors at which any act, proceeding, or omission of the directors in violation of this article occurs is deemed to have concurred therein, unless he at the time causes, or in writing requires, his dissent therefrom to be entered in the minutes of the directors or forwards his dissent by registered mail to the secretary of the corporation immediately after the adjournment of the meeting.
(Code 1981, § 13-1070-10)
State Law reference— Similar provisions, U.C.A. 1953, § 76-10-710.
Sec. 14-1041. - Foreign corporations subject to ordinances.#
It is no defense to a prosecution for any violation of any of the provisions of this article that the corporation was one created by the laws of another state, government, or country if it was one carrying on business or keeping an office therefor within the town.
(Code 1981, § 13-1070-11)
State Law reference— Similar provisions, U.C.A. 1953, § 76-10-711.