Utah Statutes
§ 48-5-403 — Contentious forks in the underlying blockchain.
Utah·Title 48 Unincorporated Business Entity Act·Ch. 48-5 Decentralized Autonomous Organization Act·Part 48-5-4 Miscellaneous Provisions
(1)Except as provided in this section, in the event of a hard fork in the underlying permissionless blockchain:
(1)(a) the legal representation of the decentralized autonomous organization remains on the majority chain; and
(1)(b) any off-chain assets shall belong to the decentralized autonomous organization on the majority chain.
(2)(2)(a) A decentralized autonomous organization may choose to maintain legal presence on a minority chain if the decentralized autonomous organization expresses an intent to do so by public signal.
(2)(b) If the decentralized autonomous organization expresses an intent by public signal to maintain legal presence on a minority chain, any off-chain assets shall belong to the decentralized autonomous organization on the selected minority chain.
(3)The decentra
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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.