Title 48, Securities, Corporations And Associations

(a) The articles of organization of a decentralized organization must:(1) Include a statement that the organization is a decentralized organization, pursuant to § 48-250-103;(2) Set forth the matters required by this chapter; and(3) Include a publicly available identifier of a sm…

(1) Articles of organization must be amended when:(1) There is a change in the name of the decentralized organization;(2) There is a false or erroneous statement in the articles of organization; or(3) The decentralized organization's smart contracts have been amended. (1) There i…

If the articles of organization or smart contract do not provide for a matter described in § 48-250-105, then the operation of a decentralized organization may be supplemented by an operating agreement.

(1) Unless otherwise provided in the articles of organization or operating agreement, management of a decentralized organization is vested in:(1) The organization's members, if member-managed; or(2) The smart contract, if smart contract-managed. (1) The organization's members, if…

Unless otherwise provided for in the articles of organization or operating agreement, a member of a decentralized organization does not have a fiduciary duty to the organization or another member; except, that the member is subject to the implied contractual covenant of good fait…

(1) For purposes of §§ 48-250-112 and 48-250-113, and unless otherwise provided for in the articles of organization, smart contract, or operating agreement:(1) Membership interests in a member-managed decentralized organization are calculated by dividing a member's contribution o…

A member does not have a right under this chapter to separately inspect or copy records of a decentralized organization, and the organization does not have an obligation to furnish information concerning the organization's activities, financial condition, or other circumstances t…

(a) A member may only disassociate from a decentralized organization in accordance with the terms set forth in the articles of organization, the smart contracts, or, if applicable, the operating agreement. (b) A member of a decentralized organization is not able to have the organ…

(a) A decentralized organization is dissolved upon the occurrence of the following:(1) The period fixed for the duration of the organization expires;(2) By vote of the majority of the members of a member-managed decentralized organization;(3) At the time or upon the occurrence of…

(a) The articles of organization and the operating agreement of a decentralized organization are effective as statements of authority. (b) If the articles of organization and operating agreement conflict, then the articles of organization control. (c) If the articles of organizat…

The secretary of state shall not issue a certificate of authority for a decentralized organization based outside of the United States or its territories.