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Utah Code Title 48. Partnership--Unincorporated Business Entities § 48-5-404. Restructuring

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

(1) When a decentralized autonomous organization is restructured, whether through modification, upgrade, or migration, the decentralized autonomous organization's legal personality and limited liability is retained only to the extent that:

(a) the new software code of the decentralized autonomous organization fulfills all the formation requirements of Section 48-5-201; and

(b) where the decentralized autonomous organization has to be associated with a new unique public address, proper notice is provided by way of public signal.

(2) A decentralized autonomous organization that is restructured in compliance with Subsection (1) inherits the rights and obligations of the original decentralized autonomous organization as a successor.

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Cite this article: FindLaw.com - Utah Code Title 48. Partnership--Unincorporated Business Entities § 48-5-404. Restructuring - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-48-partnership-unincorporated-business-entities/ut-code-sect-48-5-404/

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