17-31-114. Dissolution.
(a) A decentralized autonomous organization organized under this chapter shall be dissolved upon the occurrence of any of the following events:
(i) The period fixed for the duration of the organization expires;
(ii) By vote of the majority of members of a member managed decentralized autonomous organization;
(iii) At the time or upon the occurrence of events specified in the underlying smart contracts or as specified in the articles of organization or operating agreement;
(iv) The decentralized autonomous organization has failed to approve any proposals or take any actions for a period of one (1) year;
(v) By order of the secretary of state if the decentralized autonomous organization is deemed to no longer perform a lawful purpose.
(b) As soon as possible following the occurrence of any of the events specified in subsection (a) of this section causing the dissolution of a decentralized autonomous organization, the organization shall execute a statement of intent to dissolve in the form prescribed by the secretary of state.