Articles of Incorporation: The Corporation's charter document that is filed with the State in order to form the corporation.
Registered Agent: At the time of filing the Articles of Organization or Articles of Incorporation, the Utah LLC or Corporation must list the name and address of a registered agent. The registered agent is the person who gets served papers and sent notices from the state.
Many companies try to sell their services to perform that role for you, but you likely don't need to hire anyone. You can be your own registered agent if 1) you have a physical address within Utah; and 2) you are available during normal business hours to accept documents for the business.
Operating Agreement: The internal governing document of an LLC which is not filed. It is similar to a partnership agreement or corporate bylaws.
Corporate Bylaws: The internal governing document of a corporation which is not filed.
Interest: A member's share of the profits and losses of an LLC and the right to receive distributions from the LLC. A member's interest is usually expressed as a percentage.
Shares: A unit of ownership of a Corporation.
Manager: The person who manages or governs an LLC and has power to bind the LLC in a transaction.
Officer: A person appointed by the Board of Directors of a Corporation responsible for the day to day management of the company or an area of management of the company.
Member: A person who owns an interest in an LLC.
Shareholder: A person who owns an interest in a Corporation.
Minutes of Meetings: The record of the actions taken during a meeting.
Utah Corporation and LLC Requirements
Next Steps after Forming a Utah LLC
Records required to be kept by a Utah LLC
Next Steps after Forming a Utah Corporation
Records required to be kept by a Utah Corporation