Tenn. Code § 48-250-105

Current through Acts 2023-2024, ch. 1069
Section 48-250-105 - Articles of organization
(a) The articles of organization of a decentralized organization must:
(1) Include a statement that the organization is a decentralized organization, pursuant to § 48-250-103;
(2) Set forth the matters required by this chapter; and
(3) Include a publicly available identifier of a smart contract directly used to manage, facilitate, or operate the decentralized organization.
(b) Except as otherwise provided in this chapter, the articles of organization and the smart contracts for a decentralized organization govern the following:
(1) Relations among the members and between the members and the decentralized organization;
(2) Rights and duties under this chapter of a person in that person's capacity as a member;
(3) Activities of the decentralized organization and the conduct of those activities;
(4) Means and conditions for amending the operating agreement;
(5) Rights and voting rights of members;
(6) Transferability of membership interests;
(7) Withdrawal of membership;
(8) Distributions to members prior to dissolution;
(9) Amendment of the articles of organization;
(10) Procedures for amending applicable smart contracts; and
(11) All other aspects of the decentralized organization.

T.C.A. § 48-250-105

Added by 2022 Tenn. Acts, ch. 852, s 1, eff. 4/20/2022.