Utah Code 13-62-102. Ownership of digital assets
Current as of: 2023 | Check for updates
|
Other versions
13-62-102. Ownership of digital assets.
(1) | Digital securities are intangible personal property and shall be considered securities and investment property for purposes of this chapter, Title 70A, Chapter 8, Uniform Commercial Code – Investment Securities, and Title 70A, Chapter 9a, Uniform Commercial Code – Secured Transactions. |
(a) | an owner or an agent has the exclusive legal authority to conduct a transaction relating to the digital asset, including by means of a private key or the use of a multi-signature arrangement the owner or agent authorizes; or |
(b) | a secured party has created a smart contract which gives the secured party exclusive legal authority to conduct a transaction relating to a digital security. See Utah Code 13-62-101
Enacted by Chapter 448, 2022 General Session Technically renumbered to avoid duplication of newly enacted Chapter also in SB 227, Chapter 462. |