Utah Statutes
§ 48-5-405 — Failure event.
Utah § 48-5-405
JurisdictionUtah
Title 48Unincorporated Business Entity Act
Ch. 48-5Decentralized Autonomous Organization Act
Part 48-5-4Miscellaneous Provisions
This text of Utah § 48-5-405 (Failure event.) 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. § 48-5-405 (2026).
Text
(1)In the case of a failure event, legal personality and limited liability are maintained to the extent necessary to protect decentralized autonomous organization members and participants from personal liability.
(2)A failure event may trigger liability on the person deploying or upgrading the decentralized autonomous organization if that person:
(2)(a) acted in bad faith; or
(2)(b) engaged in gross negligence.
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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.Cite This Page — Counsel Stack
Bluebook (online)
Utah § 48-5-405, Counsel Stack Legal Research, https://law.counselstack.com/statute/ut/48-5-405.