Tennessee § 48-250-110 Membership interests for member-managed decentralized organizations - Voting

Tennessee Statutes

§ 48-250-110 — Membership interests for member-managed decentralized organizations - Voting

Tennessee § 48-250-110

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This text of Tennessee § 48-250-110 (Membership interests for member-managed decentralized organizations - Voting) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 48-250-110 (2026).

Text

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 of digital assets to the organization divided by the total amount of digital assets contributed to the organization at the time of a vote;

(2)If members do not contribute digital assets to an organization as a prerequisite to becoming a member, each member possesses one (1) membership interest and is entitled to one (1) vote; and (3) A quorum requires no less than a majority of membership interests entitled to vote.

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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 of digital assets to the organization divided by the total amount of digital assets contributed to the organization at the time of a vote; (2) If members do not contribute digital assets to an organization as a prerequisite to becoming a member, each member possesses one (1) membership interest and is entitled to one (1) vote; and (3) A quorum requires no less than a majority of membership interests entitled to vote.