UTA LEG Decentralized Organizations

On Feb. 16, UTA LEG bill on decentralized autonomous organizations.

  • UTA LEG passed HB 318 to amend Decentralized autonomous organization act (DOA).
  • Would amend UTA LEG 48-5-103, Powers of the division; UTA LEG 48-5-105, Permitted names; UTA LEG 48-5-201, Formation requirements; technical, conforming changes.
  • Provisions
  • Clarifies Division of Corporations and Commercial Code files certificate of organization.
  • Also, clarifies that the division does not issue a certificate of organization to the entity.
  • Makes modifications to permitted names of a DAO to align with other entities in State.
  • decentralized autonomous organization to align with permitted names for other entities formed in the State.
  • Legislative History
  • On Jan. 18, 2024, bill was introduced in House; on Jan. 31, 2024, bill passed House.
  • On Jan. 31, 2024, bill was introduced into Senate; on Feb. 16, bill passed Senate.
  • Effectiveness
  • Upon approval by the Governor or veto override, HB0318 takes effect on May 1, 2024.
  • Mar. 2024 UTA LEG Approval
  • On Mar. 13, 2024, UTA LEG governor approved bill HB 318, takes effect May 1, 2024.

Regulators UTA LEG
Entity Types Corp
Reference Bill, 3/13/2024; Bill HB0318, 2/16/2024; Citation: *UTA LEG* 48-5-103, 48-5-105, 48-5-201;
Functions Compliance; Legal; Operations; Registration/Licensing
Countries United States of America
Products Corporate
Regions Am
Rule Type Final
Rule Date 2/16/2024
Effective Date 5/1/2024
Rule Id 201527
Linked to N/A
Reg. Last Update 3/13/2024
Report Section US Consumer

Last substantive update on 03/18/2024