Utah Code 48-5-102. Governing document hierarchy — Governing law
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A decentralized autonomous organization shall be governed by the following, listed in order of primacy:
(1) this act;
Terms Used In Utah Code 48-5-102
- By-laws: means the procedural rules and regulations that govern a decentralized autonomous organization and the interaction of the decentralized autonomous organization's members and participants. See Utah Code 48-5-101
- Decentralized: means that decision-making is distributed among multiple persons. See Utah Code 48-5-101
- Decentralized autonomous organization: means an organization:(6)(a) created by one or more smart contracts;(6)(b) that implements rules enabling individuals to coordinate for decentralized governance of an organization; and(6)(c) that is an entity formed under this chapter. See Utah Code 48-5-101(2) the by-laws of the decentralized autonomous organization;(3) if this act and a decentralized autonomous organization’s by-laws are silent, the provisions of Chapter 3a, Utah Revised Uniform Limited Liability Company Act; and(4) principles of law and equity.