Utah Code
Utah Code § 78B-2-306 (2026)
Action against corporate stockholders or directors
✓ current as of May 2026
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Actions against directors or stockholders of a corporation to recover a penalty or forfeiture imposed, or to enforce a liability created shall be brought within three years after the discovery by the aggrieved party of the facts upon which the penalty or forfeiture attached, or the liability accrued. Actions against stockholders of a bank pursuant to levy of assessment to collect their statutory liability must be brought within three years after the levy of the assessment.
Notes of Decisions
Cited in 2
cases (2 in the last 5 years), 2023–2025 · leading case: Malan v. RKB Indus. (D. Utah 2023).
Malan v. RKB Indus. (D. Utah 2023). “2 Utah Code Ann. § 78B-2-306 provides a three-year statute of limitations for actions against corporate stockholders or directors in their representative capacities as stockholders or directors.”
In re Est. of Davies, 2025 UT 36 (Utah 2025). “§ 78B-2-306 (“Actions against directors or stockholders of a corporation to recover a penalty or forfeiture imposed, or to enforce a liability created shall be brought within three years after the discovery by the aggrieved party of the facts upon which the penalty or forfeiture…”
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