Utah Statement of Termination
What this document covers
The Statement of Termination is a legal document used to officially dissolve a limited partnership (LP) or a limited liability limited partnership (LLLP). This form provides a clear declaration of intent to terminate the partnership and outlines the responsibilities of the general partners or designated individuals in winding up the business's affairs. By submitting this statement to the relevant state authority, the entity's legal existence is concluded, distinguishing it from other dissolution methods that may require more complex procedures.
Main sections of this form
- LP or LLLP Name: the legal name of the business entity being terminated.
- Entity Number: the unique identification number assigned to the entity.
- Effective Date: indicates when the termination takes effect, either upon filing or on a specified future date.
- Signature section: requires signatures from all general partners or an appointed person for dissolved partnerships.
- Declaration of truth: includes a statement under penalties of perjury, confirming the information provided is true and accurate.
When this form is needed
This form should be used when a limited partnership or limited liability limited partnership decides to permanently cease operations. Common scenarios include the partnership reaching its intended business goals, mutual agreement among partners to dissolve the partnership, or changing business circumstances that make continuation impractical. Filing this form ensures that the partnership is legally dissolved and that all necessary obligations are addressed.
Who this form is for
- General partners of a limited partnership or limited liability limited partnership.
- Individuals designated to wind up the affairs of a dissolved limited partnership that lacks general partners.
- Business owners looking to formally terminate a partnership and fulfill state legal requirements.
How to complete this form
- Identify the LP or LLLP name and enter it in the designated field.
- Provide the entity number to identify the specific partnership being terminated.
- Specify the effective date of termination, either upon filing or a future date.
- Gather signatures from all general partners or the designated person to wind up the partnership's affairs.
- Ensure that all signatories include their titles and the date signed.
Does this document require notarization?
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to obtain all required signatures, which can invalidate the form.
- Not specifying the effective date of termination accurately.
- Using incorrect or outdated entity information, which may delay processing.
- Neglecting to file necessary copies and postage if requesting a return of the filed document.
Why use this form online
- Convenient access to the form allows for quicker completion and submission.
- Editable fields ensure accuracy and customization specific to your partnership.
- Reliable templates drafted by licensed attorneys safeguard legal compliance.
Summary of main points
- The Statement of Termination is crucial for officially dissolving a limited partnership in accordance with state laws.
- Ensure all relevant parties understand their roles in the termination process.
- Follow state-specific guidelines to avoid delays or issues with the filing.
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FAQ
Submit a UT Registration Information Change form When you remove a member from a Utah LLC, you must submit an LLC Registration Information Change form ($13) with the Utah Division of Corporations. You can file this form online, by mail, or by fax. By Fax: (801) 530-6438.
Utah DBAs expire every three years and require renewal. You can renew your Utah DBA online. The processing fee to renew your assumed name is $27.
File articles of dissolution with the Secretary of State. You can submit this document by mail to Utah Division of Corporations and Commercial Code. There is no filing fee required for filing articles of dissolution. The state agency usually takes five to seven business days to process the articles of dissolution.
You can cancel/dissolve a DBA by completing the Letter of Cancellation . How do I obtain copies/certificates of a DBA? You can obtain copies/certificates of a DBA by doing a Business Registration Search , then finding the entity you are looking for, then you click on the details of that entity.
In Utah you're required to submit a statement of dissolution form to the Division of Corporations and Commercial Code, which can be found online. There is a mandatory fee for regular processing, and additional fees for optional expedited processing. Regular processing takes about five to seven business days.
To cancel a Business Name Registration (DBA) a letter of cancellation must be presented to the division. The cancellation letter should include the following information: 1) Statement requesting the Division to cancel the Business Name Registration (DBA). 2) Address of the business.
This is often called filing for a DBA, or doing business as. For example, if ?ABC Company LLC? wants to do business as ?ABC Furniture Rental? then the owners have to file a DBA. Utah requires a business to file for a DBA designation if it seeks to do business under a name other than its formal "legal" name.
You can register as many DBAs as you want. But remember that each requires a separate registration and filing fee, a separate brand identity (name, logo design, etc.), and periodic renewal registrations.
