Utah § 13-62-101 Definitions.

Utah Statutes

§ 13-62-101 — Definitions.

Utah § 13-62-101

Title 13Commerce and Trade

Ch. 13-62Digital Asset Management Act

Part 13-62-1General Provisions

This text of Utah § 13-62-101 (Definitions.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 13-62-101 (2026).

Text

As used in this chapter:

(1)"Agent" means a person who is authorized to act on behalf of an owner with respect to a digital asset.

(2)"Control" means:

(2)(a) an owner or an agent has the exclusive legal authority to conduct a transaction relating to the digital asset, including by means of a private key or the use of a multi-signature arrangement the owner or agent authorizes; or

(2)(b) a secured party has created a smart contract that gives the secured party exclusive legal authority to conduct a transaction relating to a digital security.

(3)(3)(a) "Digital asset" means a representation of economic, proprietary, or access rights that is stored in a computer readable format.

(3)(b) "Digital asset" includes:

(3)(b)(i) a digital user asset; or

(3)(b)(ii) a digital security.

(4)"Digital

Free access — add to your briefcase to read the full text and ask questions with AI

As used in this chapter:
(1) "Agent" means a person who is authorized to act on behalf of an owner with respect to a digital asset.
(2) "Control" means:
(2)(a) an owner or an agent has the exclusive legal authority to conduct a transaction relating to the digital asset, including by means of a private key or the use of a multi-signature arrangement the owner or agent authorizes; or
(2)(b) a secured party has created a smart contract that gives the secured party exclusive legal authority to conduct a transaction relating to a digital security.
(3) (3)(a) "Digital asset" means a representation of economic, proprietary, or access rights that is stored in a computer readable format.
(3)(b) "Digital asset" includes:
(3)(b)(i) a digital user asset; or
(3)(b)(ii) a digital security.
(4) "Digital security" means a digital asset that constitutes a security, as that term is defined in Section 70A-8-101.
(5) (5)(a) "Digital user asset" means a digital asset that is used or bought primarily for consumptive, personal, or household purposes.
(5)(b) "Digital user asset" includes an open blockchain token.
(5)(c) "Digital user asset" does not include a digital security.
(6) "Multi-signature arrangement" means a system of access control relating to a digital asset for the purposes of preventing unauthorized transactions relating to the digital asset, in which two or more private keys are required to conduct a transaction.
(7) "Private key" means a unique element of cryptographic data that is:
(7)(a) held by a person;
(7)(b) paired with a public key; and
(7)(c) used to digitally sign a transaction.
(8) "Public key" means a unique element of cryptographic data that:
(8)(a) is publicly available;
(8)(b) is paired with a private key that is held by the owner of the public key; and
(8)(c) allows viewing, but not digitally signing, electronic transactions.
(9) "Smart contract" means a transaction that is comprised of code, script, or programming language that executes the terms of an agreement, and which may include taking custody of and transferring a digital asset, or issuing executable instructions for these actions, based on the occurrence or nonoccurrence of specified conditions.