Utah Statutes
§ 48-5-305 — Administrators.
Utah·Title 48 Unincorporated Business Entity Act·Ch. 48-5 Decentralized Autonomous Organization Act·Part 48-5-3 Members
(1)Unless mandated in the decentralized autonomous organization's by-laws, a decentralized autonomous organization is not required to have an administrator, including a board of directors or a trustee.
(2)In the absence of a provision requiring administrators, all the powers and tasks of an administrator shall be vested in the decentralized autonomous organization members as a class.
(3)The voting mechanism for nominating and appointing an administrator shall be set out in the decentralized autonomous organization's by-laws.
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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.