Utah § 48-5-202 Limited liability.

Utah Statutes

§ 48-5-202 — Limited liability.

Utah § 48-5-202

Title 48Unincorporated Business Entity Act

Ch. 48-5Decentralized Autonomous Organization Act

Part 48-5-2Formation

This text of Utah § 48-5-202 (Limited liability.) 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. § 48-5-202 (2026).

Text

(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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(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 organization, the members who voted against compliance may be liable for any monetary payments ordered in the judgment, order, or award in proportion to the member's share of governance rights in the decentralized autonomous organization.
(3) Subsections (1) and (2) do not affect the personal liability of a member in tort for a member's own wrongful act or omission.