(1) A commercial registered agent may terminate the commercial registered agent's listing as a commercial registered agent by delivering to the division for filing a commercial registered agent termination statement signed by the commercial registered agent that states:
- (a) the name of the commercial registered agent described in Section 16-1a-405; and
- (b) that the agent no longer conducts the business of serving as a commercial registered agent in this state.
- (2) A commercial registered agent termination statement takes effect at 12:01 a.m. 31 days after the day on which the division files the commercial registered agent termination statement.
- (3) The commercial registered agent shall promptly furnish to each entity the commercial registered agent represents a notice of the filing of the commercial registered agent termination statement.
- (4) When a commercial registered agent termination statement takes effect, the commercial registered agent ceases to be the commercial registered agent for each entity the commercial registered agent formerly represented.
- (5) Notwithstanding Subsection (4), a person may deliver service of process to a commercial registered agent after the commercial registered agent termination takes effect, until an entity formerly represented by the commercial registered agent designates a new commercial registered agent.
(6) A commercial registered agent terminating the commercial registered agent's listing under this section does not affect a contractual right that:
- (a) a represented entity has against the commercial registered agent; or
- (b) a commercial registered agent has against a represented entity.
Enacted by Chapter 93, 2026 General Session