Rule detail : 201527

UTA LEG Decentralized 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
Category
State
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