UTAH CODE (Last Updated: January 16, 2015) |
Title 48. Partnership |
Chapter 2c. Utah Revised Limited Liability Company Act |
Part 9. Contributions -- Profits and Losses |
§ 48-2c-903. Capital accounts.
Latest version.
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(2) Upon any revaluation event under Subsection (1): (a) the book value of company assets shall be adjusted to fair market value; and (b) unrealized income, gain, loss, or deduction inherent in those company assets that have not been previously reflected in the members' capital accounts shall be allocated to the members' capital accounts.
Amended by Chapter 141, 2005 General Session