Utah Statutes
§ 48-5-202 — Limited liability.
Utah·Title 48 Unincorporated Business Entity Act·Ch. 48-5 Decentralized Autonomous Organization Act·Part 48-5-2 Formation
(1)Except as set forth in Subsections (2) and (3), a member:
(1)(a) may only be liable for the on-chain contributions that the member has committed to the decentralized autonomous organization;
(1)(b) may not be held personally liable for any excess liability after the decentralized autonomous organization's assets have been exhausted;
(1)(c) may not be held personally liable for any obligation incurred by the decentralized autonomous organization; and
(1)(d) may not be held personally liable, in the member's capacity as a member, for the wrongful act or omission of any other member of the decentralized autonomous organization.
(2)If a decentralized autonomous organization refuses to comply with an enforceable judgment, order, or award entered against the decentralized autonomous organi
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Legislative History
Enacted by Chapter 85, 2023 General Session
Nearby Sections
15
§ 48-1c-101
Title.§ 48-1d-1001
Definitions.§ 48-1d-1002
Relationship of part to other laws.§ 48-1d-1003
Required notice or approval.§ 48-1d-1004
Status of filings.§ 48-1d-1005
Nonexclusivity.§ 48-1d-1006
Reference to external facts.§ 48-1d-1007
Alternative means of approval of transactions.§ 48-1d-1008
Appraisal rights.§ 48-1d-101
Title.§ 48-1d-102
Definitions.§ 48-1d-1021
Merger authorized.§ 48-1d-1022
Plan of merger.§ 48-1d-1023
Approval of merger.§ 48-1d-1024
Amendment or abandonment of plan of merger.