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Utah Code § 48-5-307

No implicit fiduciary status

Renumbered and Amended by Chapter 92, 2026 General Session; Enacted by Chapter 85, 2023 General Session; End date 10/1/2026

A developer, member, participant, or legal representative of a decentralized autonomous organization may not be imputed to have fiduciary duties towards each other or third parties solely on account of their role, unless the developer, member, participant, or legal representative:

(1) explicitly holds themselves out as a fiduciary; or

(2) stipulates to assume a fiduciary status as provided in the decentralized autonomous organization's by-laws.

Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.