Section 48-250-113 - Dissolution(a) A decentralized organization is dissolved upon the occurrence of the following:(1) The period fixed for the duration of the organization expires;(2) By vote of the majority of the members of a member-managed decentralized organization;(3) At the time or upon the occurrence of events specified in the underlying smart contracts, or articles of organization, or operating agreement;(4) The decentralized organization failed to approve proposals or take actions for a period of one (1) year; or(5) By order of the secretary of state, if the decentralized organization is deemed to no longer perform a lawful purpose.(b) As soon as possible following the occurrence of an event specified in subsection (a), the organization must execute a statement of intent to dissolve in the form prescribed by the secretary of state.Added by 2022 Tenn. Acts, ch. 852, s 1, eff. 4/20/2022.