Utah § 67-5-39 Sheriff Node Program.

Utah Statutes

§ 67-5-39 — Sheriff Node Program.

Utah·Title 67 State Officers and Employees·Ch. 67-5 Attorney General

(1)As used in this section:

(1)(a) "Blockchain" means the same as that term is defined in Section 78B-3-112.

(1)(b) "Reversible blockchain" means the same as that term is defined in Section 78B-3-112.

(1)(c) "Sheriff node" means a computer that:

(1)(c)(i) is connected to a reversible blockchain;

(1)(c)(ii) is administered by the Office of the Attorney General; and

(1)(c)(iii) allows the Office of the Attorney General to reverse a mistaken or fraudulent transaction upon receipt of:

(1)(c)(iii)(A) a court order issued under Section 78B-3-112; or

(1)(c)(iii)(B) an award issued in a valid and binding arbitration.

(1)(d) "Transaction" means the same as that term is defined in Section 78B-3-112.

(2)(2)(a) There is created a program known as the "Sheriff Node Program" within the Office of the

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(1) As used in this section:

(1)(a) "Blockchain" means the same as that term is defined in Section 78B-3-112.
(1)(b) "Reversible blockchain" means the same as that term is defined in Section 78B-3-112.
(1)(c) "Sheriff node" means a computer that:
(1)(c)(i) is connected to a reversible blockchain;
(1)(c)(ii) is administered by the Office of the Attorney General; and
(1)(c)(iii) allows the Office of the Attorney General to reverse a mistaken or fraudulent transaction upon receipt of:

(1)(c)(iii)(A) a court order issued under Section 78B-3-112; or
(1)(c)(iii)(B) an award issued in a valid and binding arbitration.
(1)(d) "Transaction" means the same as that term is defined in Section 78B-3-112.
(2) (2)(a) There is created a program known as the "Sheriff Node Program" within the Office of the Attorney General to operate a sheriff node on a reversible blockchain.
(2)(b) The attorney general shall administer the program with funds available for this purpose.
(3) The attorney general shall operate the program only to reverse a transaction on a reversible blockchain upon receipt of:

(3)(a) a court order issued under Section 78B-3-112; or
(3)(b) an award issued in a valid and binding arbitration.
(4) The attorney general may make rules in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, to carry out the program, including to:

(4)(a) establish the number of reversible blockchains for which the attorney general may administer a sheriff node;
(4)(b) charge and assess fees and costs for the operation of a sheriff node on a reversible blockchain;
(4)(c) establish criteria for determining the validity of an arbitration award; and
(4)(d) establish other rules reasonably necessary to efficiently carry out the sheriff node program.

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