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Current as of January 02, 2024 | Updated by Findlaw Staff
(a) The articles of organization of a decentralized organization must:
(1) Include a statement that the organization is a decentralized organization, pursuant to § 48-250-103;
(2) Set forth the matters required by this chapter; and
(3) Include a publicly available identifier of a smart contract directly used to manage, facilitate, or operate the decentralized organization.
(b) Except as otherwise provided in this chapter, the articles of organization and the smart contracts for a decentralized organization govern the following:
(1) Relations among the members and between the members and the decentralized organization;
(2) Rights and duties under this chapter of a person in that person's capacity as a member;
(3) Activities of the decentralized organization and the conduct of those activities;
(4) Means and conditions for amending the operating agreement;
(5) Rights and voting rights of members;
(6) Transferability of membership interests;
(7) Withdrawal of membership;
(8) Distributions to members prior to dissolution;
(9) Amendment of the articles of organization;
(10) Procedures for amending applicable smart contracts; and
(11) All other aspects of the decentralized organization.
Cite this article: FindLaw.com - Tennessee Code Title 48. Corporations and Associations § 48-250-105 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-48-corporations-and-associations/tn-code-sect-48-250-105/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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