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Utah Code Title 48. Partnership--Unincorporated Business Entities § 48-5-401. Asset subscription and payment

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) No minimum capital requirements may apply to a decentralized autonomous organization recognized by this act.

(2) If the decentralized autonomous organization wishes to maintain a minimum amount of capital, the by-laws of the decentralized autonomous organization shall specify the rules for subscription and payment.

(3) The by-laws shall provide the rules for exiting the decentralized autonomous organization that address the consequences of voluntary and involuntary member and participant exit on subscriptions and payments made by the member or participant.

(4) No member may compel the dissolution of the decentralized autonomous organization for failure to return the member's on-chain contribution.

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Cite this article: FindLaw.com - Utah Code Title 48. Partnership--Unincorporated Business Entities § 48-5-401. Asset subscription and payment - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-48-partnership-unincorporated-business-entities/ut-code-sect-48-5-401/

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