(a) A person may form a decentralized organization by having at least one (1) member sign and deliver one (1) original and one (1) exact or conformed copy of the articles of organization to the secretary of state for filing. The person forming the decentralized organization does not need to be a member of the organization.(b) A decentralized organization must have and continuously maintain in this state a registered agent as provided in § 48-249-109.(c) A decentralized organization may form and operate for a lawful purpose, regardless of whether for profit.(d) A smart contract-managed decentralized organization may only form under this chapter if the underlying smart contracts are able to be amended.Added by 2022 Tenn. Acts, ch. 852, s 1, eff. 4/20/2022.
Tennessee Legal Code