Utah Statutes
§ 48-5-301 — Classes of participation rights -- Membership.
Utah·Title 48 Unincorporated Business Entity Act·Ch. 48-5 Decentralized Autonomous Organization Act·Part 48-5-3 Members
(1)A decentralized autonomous organization's by-laws may create multiple classes of member participation rights.
(2)Where the decentralized autonomous organization has tokens providing governance powers to the token holder, the token holder shall be considered a member of the decentralized autonomous organization:
(2)(a) from the time the ownership of the tokens is established to be in the possession of an address; or
(2)(b) from the time when ownership is first acknowledged by the token holder through an on-chain interaction with the decentralized autonomous organization.
(3)This section does not apply in the event of a hard fork.
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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.