59-1-1306. Material advisor disclosure of reportable transactions.
(1) A material advisor shall disclose a reportable transaction to the commission on a form provided by the commission. The disclosure described in Subsection: (1)(a) shall include information: identifying and describing the transaction; and describing any potential tax benefits expected to result from the transaction; and may include information other than the information described in Subsectionas required by the commission. (1)(b)(i)
(2) If a material advisor described in Subsectionis required to file a return disclosing a reportable transaction under Section 6111, Internal Revenue Code, the material advisor shall provide the commission a copy of that return. (1)
(3) In accordance with, the commission shall make rules prescribing: Title 63G, Chapter 3, Utah Administrative Rulemaking Act the date a: disclosure required by Subsectionshall be filed with the commission; and (1) copy of a return required by Subsectionshall be filed with the commission; (2) that only one person may be required to meet the requirements of Subsectionorif two or more persons would otherwise be required to meet the requirements of Subsectionor; and (1) (2) (1) (2) exemptions from Subsectionor. (1) (2)