A decentralized autonomous organization that meets the requirements of this act: (1) shall be deemed a legal entity separate and distinct from the decentralized autonomous organization's members; (2) has the capacity to sue and be sued in the decentralized autonomous organization's own name and the power to do all things necessary or convenient to carry on the decentralized autonomous organization's activities and affairs; (3) shall meet the decentralized autonomous organization's liabilities through the decentralized autonomous organization's assets; (4) may have any lawful purpose; and (5) has perpetual duration. Renumbered and Amended by Chapter 92, 2026 General Session Repealed 10/1/2026
‹ Prev All Utah sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.