Document Type

Article

Publication Title

Florida State University Business Review

Abstract

This essay responds to a recent development in unincorporated business associations law in the State of Tennessee. That legislative development is a 2022 amendment to Tennessee’s Revised Limited Liability Company Act, ostensibly creating a legal form of entity for the operation of decentralized autonomous organizations (the "DAO Act"). Remarkably, the DAO Act did not pass through the traditional channels for the review of business legislation in Tennessee, which include a review by members of the business bar (prototypically at least the Executive Council of the TBA Business Law Section) and the Business Services Division of the Tennessee Secretary of State. As a result, the passage of the DAO Act and its enactment into law have raised questions and concerns for the bar and state government (as well as potential end-users). This essay explores some of those questions and concerns.

Publication Date

2024

Comments

Membership in Tennessee Bar Association Business Law Section Executive Council (which proposes and vets business legislation in Tennessee).

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