Section 48-5-301 - Classes of participation rights - Membership(1) A decentralized autonomous organization's by-laws may create multiple classes of member participation rights.(2) Where the decentralized autonomous organization has tokens providing governance powers to the token holder, the token holder shall be considered a member of the decentralized autonomous organization: (a) from the time the ownership of the tokens is established to be in the possession of an address; or(b) from the time when ownership is first acknowledged by the token holder through an on-chain interaction with the decentralized autonomous organization.(3) This section does not apply in the event of a hard fork.Added by Chapter 85, 2023 General Session ,§ 14, eff. 1/1/2024.