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Limited Liability Company Act of 1996 applies to DAO LLC's to the extent not inconsistent with the provisions of this Chapter." } }, { "text": "Formation of a DAO LLC that complies with the Act must be approved and registered within 30 days of the initial application.", "silent": false, "cite": { "source": "mh-pl-2023-83", "pinpoint": "DAO Act §105(5), as enacted by P.L. 2023-83 §102(3)", "quote": "Formation of a DAO LLC that is in compliance with this Act shall be approved and registered within 30 days of the initial application." } } ], "citation": "Title 52 (Associations Law), Chapter 7", "entityTypes": [ "DAO LLC" ], "enacted": "2022-11-25", "enactedBasis": "commencement", "effective": "2022-11-25", "status": "amended", "officialText": "mh-dao-act-2022-original", "cites": { "name": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §101", "quote": "This Act may be cited as the Decentralized Autonomous Organization Act, 2022." }, "citation": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50, cover page (Title/Chapter heading)", "quote": "TITLE 52 - ASSOCIATIONS LAW CHAPTER 7 - DECENTRALIZED AUTONOMOUS ORGANIZATION ACT 2022" }, "entityTypes": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §104(4)", "quote": "The registered name for a decentralized autonomous organization shall include wording or abbreviation to denote its status as a decentralized autonomous organization, specifically \"DAO LLC,\"." }, "enacted": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50, cover (Commencement note)", "quote": "Commencement: November 25, 2022" }, "effective": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50, cover (Commencement note); cf. §119 Effective Date", "quote": "Commencement: November 25, 2022" } }, "filingBody": { "name": "Registrar of Resident Domestic and Authorized Foreign Corporations", "cite": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §102(j)", "quote": "\"Registrar\" means the Registrar of Resident Domestic and Authorized Foreign Corporations;" } }, "registeredAgent": { "name": "MIDAO Directory Services, Inc.", "operator": true, "cite": { "source": "mh-dao-regulations-2024", "pinpoint": "DAO Regulations 2024 §5(1)", "quote": "and the Memorandum of Agreement between the Government of the Republic of the Marshall Islands and MIDAO Directory Services, Inc., dated July 5, 2022, the Registered Agent for every DAO LLC shall be MIDAO Directory Services, Inc." }, "requirement": { "source": "mh-pl-2023-83", "pinpoint": "DAO Act §105(2)", "quote": "A DAO LLC shall have and continuously maintain in the Republic the registered agent as defined herein upon whom process against a DAO LLC or any notice or demand required or permitted by law to be served may be served." }, "definition": { "source": "mh-pl-2023-83", "pinpoint": "DAO Act §102(q)", "quote": "\"Registered agent\" shall be defined in the regulations promulgated under this Chapter;" } }, "amendments": [ { "date": "2023-10-25", "description": "Decentralized Autonomous Organization (Amendment) Act, 2023 (P.L. 2023-83), certified 2023-10-25.", "cite": { "source": "mh-pl-2023-83", "pinpoint": "P.L. 2023-83, Certificate", "quote": "I hereby place my signature before the Clerk this 25th day of October 2023." } } ], "features": { "nameRequirement": { "short": "Must include \"DAO LLC\"", "value": "The registered name of a DAO LLC must denote its status as a decentralized autonomous organization, specifically the designation \"DAO LLC\".", "silent": false, "cite": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §104(4)", "quote": "The registered name for a decentralized autonomous organization shall include wording or abbreviation to denote its status as a decentralized autonomous organization, specifically \"DAO LLC,\"." } }, "management": { "short": "Member- or algorithm-managed", "value": "Management is vested in the organization's members if member managed, or in the smart contract if algorithmically managed, unless the certificate of formation or LLC agreement provides otherwise.", "silent": false, "cite": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §108", "quote": "Management of a decentralized autonomous organization shall be vested in its members, if member managed, or the smart contract, if algorithmically managed, unless otherwise provided in the certificate of formation or limited liability company agreement." } }, "purpose": { "short": "Any lawful purpose", "value": "A DAO LLC shall form and operate for any lawful purpose, whether or not for profit, and its certificate of formation and LLC agreement must state that its purpose is to engage in any lawful act or activity for which DAO LLCs may be organized under the Act.", "silent": false, "cite": { "source": "mh-pl-2023-83", "pinpoint": "DAO Act §105(3), as amended by P.L. 2023-83 §102(3)", "quote": "A DAO LLC shall form and operate for any lawful purpose, regardless of whether for profit. The Certificate of Formation and limited liability agreement shall state that the purpose of the DAO LLC is to engage in any lawful act or activity for which DAO LLCs may now or hereafter be organized under this Act." } }, "onchainIdentifier": { "short": "Required", "value": "The certificate of formation or LLC agreement must include a publicly available identifier of any smart contract directly used to manage, facilitate or operate the DAO.", "silent": false, "cite": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §106(2)", "quote": "In addition to the requirements of subsection (1) of this section, the certificate of formation or limited liability company agreement shall include a publicly available identifier of any smart contract directly used to manage, facilitate or operate the decentralized autonomous organization." } }, "inactivityDissolution": { "short": "Silent", "value": "The dissolution section does not list inactivity among its dissolution events.", "silent": true, "cite": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §114; P.L. 2023-83 §102(6) amends only §114(3)" } }, "thresholds": { "short": "Disclosure at 25% governance rights", "value": "A DAO LLC's foreign investment business license application must give the names and other information of beneficial owners or other members with 25% or more of the governance rights, and no information about other members.", "silent": false, "cite": { "source": "mh-pl-2023-83", "pinpoint": "DAO Act §103(4)(b), as enacted by P.L. 2023-83 §102(2)", "quote": "The application referred to in Section 205 of the Foreign Investment Business License Act shall require the names and other information of beneficial owners or other members that have 25% or more governance rights in DAO LLCs but shall not require any information about other members." } }, "liability": { "short": "General RMI LLC Act applies", "value": "The Limited Liability Company Act of 1996 applies to DAO LLCs to the extent not inconsistent with the DAO Act.", "silent": false, "cite": { "source": "mh-pl-2023-83", "pinpoint": "DAO Act §103(1)(a), as enacted by P.L. 2023-83 §102(2)", "quote": "The Limited Liability Company Act of 1996 applies to DAO LLC's to the extent not inconsistent with the provisions of this Chapter." } }, "tax": { "short": "Gross-revenue tax if for-profit", "value": "DAO LLCs and the persons or entities doing business with them are not subject to the Income Tax Act, except that a DAO LLC that elects for-profit status is subject to §109 and §110 and pays a tax on gross revenue.", "silent": false, "cite": { "source": "mh-pl-2023-83", "pinpoint": "DAO Act §103(3)(a), as enacted by P.L. 2023-83 §102(2)", "quote": "DAO LLCs and the persons or entities doing business with them are not subject to the provisions of the Income Tax Act, except that DAOs that elect for-profit status are subject to §109 and §110 and shall pay a tax on gross revenue as defined herein." } }, "formationFee": { "short": "Not in the Act", "value": "The Act does not itself state a dollar formation fee.", "silent": true, "cite": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §§101-119, as amended by P.L. 2023-83" } }, "annualFee": { "short": "Not in the Act", "value": "The Act does not itself state a dollar annual fee.", "silent": true, "cite": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §§101-119, as amended by P.L. 2023-83" } } }, "verifiedOn": "2026-10-13", "verifiedBy": "verbatim-quote rule; the certified P.L. 2023-83 is quoted from an OCR transcript of its page images, read twice independently" }, { "id": "us-al/duna", "jurisdiction": "us-al", "name": "Alabama Decentralized Unincorporated Nonprofit Association Law", "shortName": "AL DUNA", "summary": [ { "text": "The definition requires at least 100 members joined by mutual consent in digital activity under an agreement, for a common nonprofit purpose, including administering the affairs of a distributed ledger technology or network of smart contracts.", "silent": false, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §10A-17-2.02(2)a.", "quote": "Consists of at least 100 members joined by mutual consent in digital activity under an agreement, which may be in writing or inferred from conduct, for a common nonprofit purpose, including, but not limited to, administering the affairs of a distributed ledger technology or network of smart contracts." } }, { "text": "A decentralized unincorporated nonprofit association is a legal entity separate from its members for the purposes of determining and enforcing rights, duties and liabilities in contract and tort.", "silent": false, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §10A-17-2.07(a)", "quote": "A decentralized unincorporated nonprofit association is a legal entity separate from its members for the purposes of determining and enforcing rights, duties, and liabilities in contract and tort." } } ], "citation": "Code of Ala. 1975, §§ 10A-17-2.01 to 10A-17-2.28", "entityTypes": [ "Decentralized unincorporated nonprofit association (commonly called DUNA)" ], "enacted": "2026-04-01", "enactedBasis": "enactment", "effective": "2026-10-01", "status": "in-force", "officialText": "al-sb277-2026-enrolled", "cites": { "name": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §10A-17-2.01", "quote": "This article together with applicable provisions of Chapter 1 shall be known and may be cited as the Decentralized Unincorporated Nonprofit Association Law." }, "citation": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §§ 10A-17-2.01 to 10A-17-2.28", "quote": "§10A-17-2.28 Principles of law and equity supplement this chapter unless displaced by a specific provision of this chapter." }, "entityTypes": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §10A-17-2.02(2)", "quote": "DECENTRALIZED UNINCORPORATED NONPROFIT ASSOCIATION or NONPROFIT ASSOCIATION. An unincorporated nonprofit association that meets the following requirements:" }, "enacted": { "source": "al-sb277-2026-sos-act-detail", "pinpoint": "Act 2026-325 (SB 277), Approved Date and Time", "quote": "4-1-2026" }, "effective": { "source": "al-sb277-2026-enrolled", "pinpoint": "Section 3", "quote": "This act shall become effective on October 1, 2026." } }, "filingBody": { "name": "Alabama Secretary of State", "url": "https://www.sos.alabama.gov/business-entities", "note": { "text": "Optional filing: a statement appointing an agent to receive service of process.", "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §10A-17-2.10(a)", "quote": "A decentralized unincorporated nonprofit association may deliver to the Secretary of State for filing a statement appointing an agent authorized to receive service of process." } }, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §10A-17-2.10(a)", "quote": "A decentralized unincorporated nonprofit association may deliver to the Secretary of State for filing a statement appointing an agent authorized to receive service of process." } }, "amendments": [], "features": { "nameRequirement": { "short": "Silent", "value": "The Law does not require a specific name suffix such as DAO or LAO.", "silent": true, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §§ 10A-17-2.01 to 10A-17-2.28" } }, "management": { "short": "No administrator required", "value": "The Law does not require the association to have an administrator.", "silent": false, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §10A-17-2.23(c)", "quote": "No decentralized unincorporated nonprofit association shall be required to have an administrator, and the rights and duties of all administrators shall be established as part of the authorization of authority to act as an administrator." } }, "purpose": { "short": "Nonprofit, profit-making allowed", "value": "May engage in profit-making activities, but profits must be used for or set aside for the association's common nonprofit purpose.", "silent": false, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §10A-17-2.04(a)", "quote": "A decentralized unincorporated nonprofit association may engage in profit-making activities. Profits from any activities shall be used in furtherance of, or set aside for, the nonprofit association's common nonprofit purpose." } }, "onchainIdentifier": { "short": "Silent", "value": "The Law does not require a filed, publicly available smart-contract identifier.", "silent": true, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §§ 10A-17-2.01 to 10A-17-2.28" } }, "inactivityDissolution": { "short": "Silent", "value": "The Law does not tie dissolution to a period of member inactivity.", "silent": true, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §§ 10A-17-2.01 to 10A-17-2.28" } }, "thresholds": { "short": "100 members minimum", "value": "Requires at least 100 members joined by mutual consent in digital activity for a common nonprofit purpose.", "silent": false, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §10A-17-2.02(2)a.", "quote": "Consists of at least 100 members joined by mutual consent in digital activity under an agreement, which may be in writing or inferred from conduct, for a common nonprofit purpose, including, but not limited to, administering the affairs of a distributed ledger technology or network of smart contracts." } }, "liability": { "short": "No contract liability merely as member", "value": "A person is not liable for a breach of the association's contract merely because the person is a member, an administrator, or someone authorized to participate in the association's management.", "silent": false, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §10A-17-2.07(b)", "quote": "A person is not liable for a breach of a decentralized unincorporated nonprofit association's contract merely because the person is a member, administrator, authorized to participate in the management of the affairs of the nonprofit association, or considered a member by the nonprofit association." } }, "tax": { "short": "Silent", "value": "The Law does not address taxation.", "silent": true, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §§ 10A-17-2.01 to 10A-17-2.28" } }, "formationFee": { "short": "Not in the Act", "value": "The Law does not itself state a dollar formation fee.", "silent": true, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §§ 10A-17-2.01 to 10A-17-2.28" } }, "annualFee": { "short": "Not in the Act", "value": "The Law does not impose an annual report fee.", "silent": true, "cite": { "source": "al-sb277-2026-enrolled", "pinpoint": "Code of Ala. 1975, §§ 10A-17-2.01 to 10A-17-2.28" } } }, "verifiedOn": "2026-09-26", "verifiedBy": "verbatim-quote rule; primary-source verification (Alabama Legislature enrolled act; Alabama Secretary of State act detail record)" }, { "id": "us-nh/dao-act", "jurisdiction": "us-nh", "name": "New Hampshire Decentralized Autonomous Organization Act", "shortName": "NH DAO Act", "summary": [ { "text": "It is the policy of the Act to give maximum effect to freedom of contract and to the enforceability of smart-contract transactions that establish and maintain decentralized autonomous organizations, according with a policy that the intent of code is law.", "silent": false, "cite": { "source": "nh-rsa301b-3", "pinpoint": "RSA 301-B:3", "quote": "It is the policy of this act to give maximum effect to the principle of freedom of contract and to the enforceability of transactions executed pursuant to smart contracts that establish and maintain decentralized autonomous organizations according with a policy principle of 'intent of code is law'." } }, { "text": "To register as a New Hampshire DAO, one or more authorized persons must deliver a notice of intent to register to the secretary of state for filing.", "silent": false, "cite": { "source": "nh-rsa301b-12", "pinpoint": "RSA 301-B:12, I", "quote": "In order to register as a New Hampshire DAO under this act, one or more authorized persons, acting in the capacity of administrator or legal representative, shall deliver a notice of intent to register as a New Hampshire DAO to the secretary of state for filing." } }, { "text": "To be listed on the registry, a New Hampshire DAO must be deployed on a permissionless blockchain, provide a unique public address by which anyone can review and monitor its activities, and publish its software code in open-source format in a public forum.", "silent": false, "cite": { "source": "nh-rsa301b-15", "pinpoint": "RSA 301-B:15, I & I(a)-(c)", "quote": "In order to be eligible for listing on the registry as a New Hampshire DAO that is subject to requirements and benefits of this chapter, the DAO must satisfy each of the following listing requirements as of the date of the initial application, and at all times after the date of the application: (a) The DAO shall be deployed on a permissionless blockchain. (b) The DAO shall provide a unique public address by which any person can review and monitor the DAO's activities. (c) The software code establishing and maintaining the DAO shall be in open-source format in a public forum to allow anyone to review it." } } ], "citation": "RSA 301-B:1 to 301-B:31", "entityTypes": [ "New Hampshire DAO" ], "enacted": "2024-07-26", "enactedBasis": "enactment", "effective": "2025-07-01", "status": "amended", "officialText": "nh-rsa301b-1", "cites": { "name": { "source": "nh-rsa301b-1", "pinpoint": "RSA 301-B:1", "quote": "This act may be cited as the \"New Hampshire Decentralized Autonomous Organization Act\" (the \"Act\")." }, "citation": { "source": "nh-rsa301b-31", "pinpoint": "RSA 301-B:31 (heading)", "quote": "Section 301-B:31 Secretary of State; Duties." }, "entityTypes": { "source": "nh-rsa301b-13", "pinpoint": "RSA 301-B:13, I", "quote": "The name of each New Hampshire DAO as set forth in its notice of organization shall end with the words \"decentralized autonomous organization\" or the abbreviation \"D.A.O.\" \"DAO\" or any other similar abbreviation." }, "enacted": { "source": "nh-hb645-2024-docket", "pinpoint": "HB 645 (2024), Official Docket, final entry", "quote": "Signed by Governor Sununu 07/26/2024; Chapter 263" }, "effective": { "source": "nh-rsa301b-1", "pinpoint": "RSA 301-B:1, historical note", "quote": "Source. 2024, 263:1, eff. July 1, 2025." } }, "filingBody": { "name": "New Hampshire Secretary of State", "url": "https://www.sos.nh.gov/", "cite": { "source": "nh-rsa301b-12", "pinpoint": "RSA 301-B:12, I", "quote": "In order to register as a New Hampshire DAO under this act, one or more authorized persons, acting in the capacity of administrator or legal representative, shall deliver a notice of intent to register as a New Hampshire DAO to the secretary of state for filing." } }, "amendments": [ { "date": "2026-06-12", "description": "Chapter 131 of 2026, signed and effective 2026-06-12.", "cite": { "source": "nh-hb1073-2026-status", "pinpoint": "HB 1073 (2026), Bill Status", "quote": "Signed by Governor Ayotte 06/12/2026; Chapter 131; eff.06/12/2026" } } ], "features": { "nameRequirement": { "short": "Must end \"DAO\"/\"D.A.O.\"", "value": "The name of each New Hampshire DAO must end with the words \"decentralized autonomous organization\" or the abbreviation \"D.A.O.,\" \"DAO,\" or a similar abbreviation.", "silent": false, "cite": { "source": "nh-rsa301b-13", "pinpoint": "RSA 301-B:13, I", "quote": "The name of each New Hampshire DAO as set forth in its notice of organization shall end with the words \"decentralized autonomous organization\" or the abbreviation \"D.A.O.\" \"DAO\" or any other similar abbreviation." } }, "management": { "short": "Administrator set by by-laws", "value": "An administrator is a person, irrespective of title, appointed in the manner specified in the by-laws to make discretionary decisions, individually or collectively with other administrators, on behalf of the organization with regard to specific, predefined operations.", "silent": false, "cite": { "source": "nh-rsa301b-5", "pinpoint": "RSA 301-B:5, I", "quote": "\"Administrator\" means a person, irrespective of title, that is appointed in a manner specified in the bylaws to make discretionary decisions, either individually or collectively, with other administrators, on behalf of the New Hampshire DAO with regard to specific, predefined operations of the New Hampshire DAO." } }, "purpose": { "short": "Any lawful activity", "value": "A New Hampshire DAO may be registered for the purpose of carrying on any lawful activity within or outside the state.", "silent": false, "cite": { "source": "nh-rsa301b-4", "pinpoint": "RSA 301-B:4", "quote": "A New Hampshire decentralized autonomous organization may be registered under this chapter for the purpose of carrying on any lawful activity within or outside this state." } }, "onchainIdentifier": { "short": "Permissionless chain deployment", "value": "To be eligible for registry listing, the organization must be deployed on a permissionless blockchain and provide a unique public address by which any person can review and monitor its activities.", "silent": false, "cite": { "source": "nh-rsa301b-15", "pinpoint": "RSA 301-B:15, I(a)-(b)", "quote": "(a) The DAO shall be deployed on a permissionless blockchain. (b) The DAO shall provide a unique public address by which any person can review and monitor the DAO's activities." } }, "inactivityDissolution": { "short": "Silent", "value": "Chapter 301-B does not tie deregistration or dissolution to a period of inactivity.", "silent": true, "cite": { "source": "nh-rsa301b-toc", "pinpoint": "RSA 301-B:1 to 301-B:31" } }, "thresholds": { "short": "20% token or voting concentration", "value": "The definition of a decentralized network requires that during the previous 12 months no person other than the DAO beneficially owned 20 percent or more of the related digital asset's units, or no digital asset issuer or affiliated person had the unilateral authority to direct 20 percent or more of the voting power of that asset or its decentralized governance system.", "silent": false, "cite": { "source": "nh-rsa301b-5", "pinpoint": "RSA 301-B:5, IX(b)", "quote": "(b) During the previous 12-month period: (1) No person, excluding the subject DAO itself, directly or indirectly beneficially owned, in the aggregate, 20 percent or more of the total amount of units of a related digital asset that: (A) Can be created, issued, or distributed in such blockchain system; and (B) Were freely transferrable or otherwise used or available to be used for the purposes of such blockchain network; or (2) No digital asset issuer or affiliated person had the unilateral authority to direct the voting, in the aggregate, of 20 percent or more of the outstanding voting power of such digital asset or related decentralized governance system." } }, "liability": { "short": "Limited, with exceptions", "value": "The debts, obligations, and liabilities of a New Hampshire DAO are solely its own, and no participant, administrator, or legal representative is personally obligated for them solely by reason of that role. Exceptions are that a participant or administrator may agree under the bylaws or another agreement to be personally liable; if the DAO refuses to comply with an enforceable judgment, order, or award, the participants who voted against compliance are liable for the monetary payments ordered; and a participant, administrator, or legal representative remains personally liable in tort for their own wrongful act or omission, but not for another's.", "silent": false, "cite": { "source": "nh-rsa301b-11", "pinpoint": "RSA 301-B:11, I-IV", "quote": "I. Except as provided in paragraph II: (a) The debts, obligations, and liabilities of a New Hampshire DAO, whether arising in contract, tort, or otherwise, shall be solely the debts, obligations, and liabilities of the New Hampshire DAO. (b) No participant, administrator, or legal representative of a New Hampshire DAO shall be obligated personally for any such debt, obligation, or liability of the New Hampshire DAO solely by reason of being a participant or acting as an administrator or legal representative of the New Hampshire DAO. (c) A New Hampshire DAO shall meet its liabilities through its on-chain and off-chain assets. (d) Except as provided in paragraphs II, III or IV, participants, administrators or legal representatives of a New Hampshire DAO shall only be responsible for providing on-chain contributions that they have committed to the New Hampshire DAO, as required by the bylaws. If the New Hampshire DAO exhausts its assets, its participants, administrators and legal representatives shall not be liable for excess liabilities of the New Hampshire DAO. II. A participant or administrator may agree under the New Hampshire DAO bylaws or other agreement to be personally liable for any or all of the debts, obligations, and liabilities of the New Hampshire DAO. III. If the New Hampshire DAO refuses to comply with an enforceable judgment, order, or award entered against it, the participants who voted against compliance shall be liable for any monetary payments ordered in the judgment, order, or award. IV. Paragraph I shall not affect the personal liability of a participant, administrator, or legal representative in tort for their own wrongful act or omission, but such a person shall not be personally liable for the wrongful act or omission of any other participant, administrator, or legal representative of the New Hampshire DAO." } }, "tax": { "short": "Other state laws apply, incl. tax", "value": "The chapter sets no tax rule of its own. It provides that a New Hampshire DAO is subject to all other applicable New Hampshire laws, including laws regulating taxation.", "silent": false, "cite": { "source": "nh-rsa301b-29", "pinpoint": "RSA 301-B:29", "quote": "a New Hampshire DAO shall be subject to all other applicable laws of the state of New Hampshire, including laws regulating securities activities, banking and financial activities, taxation, and all other provisions of law" } }, "formationFee": { "short": "$100 registration fee", "value": "A notice of registration is not effective until payment of a $100 filing fee.", "silent": false, "cite": { "source": "nh-rsa301b-12", "pinpoint": "RSA 301-B:12, III", "quote": "The notice of registration required under this section shall not be effective until payment of a filing fee of $100." } }, "annualFee": { "short": "Set by Secretary of State", "value": "The chapter states no dollar annual fee. It authorizes the Secretary of State, under the registry contracts, to set registration and annual fees.", "silent": false, "cite": { "source": "nh-rsa301b-31", "pinpoint": "RSA 301-B:31", "quote": "In accordance with the contracts entered into, the secretary of state is authorized to set registration and annual fees" } } }, "verifiedOn": "2026-10-13", "verifiedBy": "verbatim-quote rule; cross-vendor review" }, { "id": "us-tn/decentralized-organization-supplement", "jurisdiction": "us-tn", "name": "Tennessee Decentralized Organization Supplement", "shortName": "TN DO Supplement", "summary": [ { "text": "A decentralized organization is a limited liability company whose articles of organization contain a statement that the company is a decentralized organization.", "silent": false, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-103(a)", "quote": "A decentralized organization is a limited liability company whose articles of organization contain a statement that the company is a decentralized organization as described in subsection (c)." } }, { "text": "The Tennessee Revised Limited Liability Company Act applies to decentralized organizations to the extent not inconsistent with the chapter.", "silent": false, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-102(a)", "quote": "The Tennessee Revised Limited Liability Company Act, compiled in chapter 249 of this title, applies to decentralized organizations to the extent not inconsistent with this chapter." } }, { "text": "Unless the articles of organization or operating agreement provide otherwise, a member has no fiduciary duty to the organization or another member, but is subject to the implied contractual covenant of good faith and fair dealing.", "silent": false, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-109", "quote": "Unless otherwise provided for in the articles of organization or operating agreement, a member of a decentralized organization does not have a fiduciary duty to the organization or another member; except, that the member is subject to the implied contractual covenant of good faith and fair dealing." } } ], "citation": "T.C.A. §§ 48-250-101 to 48-250-115", "entityTypes": [ "Decentralized organization" ], "enacted": "2022-04-20", "enactedBasis": "enactment", "effective": "2022-04-20", "status": "in-force", "officialText": "tn-pc852-2022-enrolled", "cites": { "name": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-103(c) (notice text)", "quote": "The Tennessee Decentralized Organization Supplement, underlying smart contracts, articles of organization, and operating agreement" }, "citation": { "source": "tn-pc852-2022-enrolled", "pinpoint": "Public Chapter No. 852, Section 1", "quote": "SECTION 1. Tennessee Code Annotated, Title 48, is amended by adding the following as a new chapter:" }, "entityTypes": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-103(a)", "quote": "A decentralized organization is a limited liability company whose articles of organization contain a statement that the company is a decentralized organization" }, "enacted": { "source": "tn-hb2645-2022-status", "pinpoint": "H.B. 2645 (112th General Assembly), Bill History", "quote": "Signed by Governor. 04/20/2022" }, "effective": { "source": "tn-hb2645-2022-status", "pinpoint": "H.B. 2645 (112th General Assembly), Bill History", "quote": "Effective date(s) 04/20/2022" } }, "filingBody": { "name": "Tennessee Secretary of State", "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-104(a)", "quote": "deliver one (1) original and one (1) exact or conformed copy of the articles of organization to the secretary of state for filing." } }, "amendments": [], "features": { "nameRequirement": { "short": "DO, DAO, DO LLC. or DAO LLC.", "value": "The registered name must include wording or an abbreviation denoting decentralized organization status, specifically \"DO\", \"DAO\", \"DO LLC.\", or \"DAO LLC.\".", "silent": false, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-103(d)", "quote": "The registered name for a decentralized organization must include wording or abbreviation to denote its status as a decentralized organization, specifically \"DO\", \"DAO\", \"DO LLC.\", or \"DAO LLC.\"." } }, "management": { "short": "Members or smart contract", "value": "Unless the articles of organization or operating agreement provide otherwise, management is vested in the members of a member-managed organization or in the smart contract of a smart contract-managed organization.", "silent": false, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-108", "quote": "Unless otherwise provided in the articles of organization or operating agreement, management of a decentralized organization is vested in: (1) The organization's members, if member-managed; or (2) The smart contract, if smart contract-managed." } }, "purpose": { "short": "Any lawful purpose, profit or not", "value": "A decentralized organization may form and operate for a lawful purpose, regardless of whether for profit.", "silent": false, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-104(c)", "quote": "A decentralized organization may form and operate for a lawful purpose, regardless of whether for profit." } }, "onchainIdentifier": { "short": "Public smart-contract identifier", "value": "The articles of organization must include a publicly available identifier of a smart contract directly used to manage, facilitate, or operate the decentralized organization.", "silent": false, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-105(a)(3)", "quote": "Include a publicly available identifier of a smart contract directly used to manage, facilitate, or operate the decentralized organization." } }, "inactivityDissolution": { "short": "Dissolved after 1 year without action", "value": "One of the events on which a decentralized organization is dissolved is that it failed to approve proposals or take actions for a period of one year.", "silent": false, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-113(a)(4)", "quote": "failed to approve proposals or take actions for a period of one (1) year" } }, "thresholds": { "short": "At least 1 member", "value": "A person may form a decentralized organization by having at least one member sign and deliver the articles of organization to the secretary of state for filing.", "silent": false, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-104(a)", "quote": "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." } }, "liability": { "short": "General TN LLC Act applies", "value": "The Tennessee Revised Limited Liability Company Act applies to decentralized organizations to the extent not inconsistent with the chapter.", "silent": false, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. § 48-250-102(a)", "quote": "The Tennessee Revised Limited Liability Company Act, compiled in chapter 249 of this title, applies to decentralized organizations to the extent not inconsistent with this chapter." } }, "tax": { "short": "Silent", "value": "The chapter does not address taxation.", "silent": true, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. §§ 48-250-101 to 48-250-115" } }, "formationFee": { "short": "Not in the Act", "value": "The chapter does not itself state a dollar formation fee.", "silent": true, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. §§ 48-250-101 to 48-250-115" } }, "annualFee": { "short": "Not in the Act", "value": "The chapter does not impose an annual report fee.", "silent": true, "cite": { "source": "tn-pc852-2022-enrolled", "pinpoint": "T.C.A. §§ 48-250-101 to 48-250-115" } } }, "verifiedOn": "2026-10-13", "verifiedBy": "verbatim-quote rule; primary-source verification (Tennessee Secretary of State enrolled Public Chapter 852; Tennessee General Assembly bill history)" }, { "id": "us-ut/dao-act", "jurisdiction": "us-ut", "name": "Utah Decentralized Autonomous Organization Act", "shortName": "UT DAO Act", "summary": [ { "text": "A decentralized autonomous organization is an organization created by one or more smart contracts that implements rules enabling individuals to coordinate for decentralized governance, formed as an entity under this Act.", "silent": false, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-101(6)", "quote": "\"Decentralized autonomous organization\" means an organization: (a) created by one or more smart contracts; (b) that implements rules enabling individuals to coordinate for decentralized governance of an organization; and (c) that is an entity formed under this chapter." } }, { "text": "A decentralized autonomous organization is governed first by this Act and then by its by-laws.", "silent": false, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-102(1)-(2)", "quote": "A decentralized autonomous organization shall be governed by the following, listed in order of primacy: (1) this act; (2) the by-laws of the decentralized autonomous organization;" } }, { "text": "A qualifying decentralized autonomous organization is a legal entity separate and distinct from its members.", "silent": false, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-104(1)", "quote": "A decentralized autonomous organization that meets the requirements of this act: (1) shall be deemed a legal entity separate and distinct from the decentralized autonomous organization's members;" } } ], "citation": "Utah Code §§ 16-22-101 to 16-22-406", "entityTypes": [ "DAO", "LLD" ], "enacted": "2023-03-13", "enactedBasis": "enactment", "effective": "2024-01-01", "status": "amended", "officialText": "ut-dao-act-2026-codified", "cites": { "name": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code Title 16, Chapter 22 (heading)", "quote": "Chapter 22 Decentralized Autonomous Organization Act" }, "citation": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-406 (heading)", "quote": "16-22-406 Taxation." }, "entityTypes": { "source": "ut-business-entities-ch1a-2026", "pinpoint": "Utah Code § 16-1a-303(9)(a)-(b)", "quote": "the abbreviation: (A) \"L.L.D.\"; (B) \"LLD\"; (C) \"L.D.\"; or (D) \"LD.\" (b) In the name of a decentralized autonomous organization: (i) \"limited\" may be abbreviated as \"Ltd.\"; and (ii) \"decentralized autonomous organization\" may be abbreviated as \"DAO.\"" }, "enacted": { "source": "ut-hb357-2023-status", "pinpoint": "H.B. 357 (2023 General Session), Bill Status / Votes", "quote": "3/13/2023 Governor Signed" }, "effective": { "source": "ut-hb357-2023-status", "pinpoint": "H.B. 357 (2023 General Session), Bill Status (Effective Date)", "quote": "Effective Date: 1 Jan 2024" } }, "filingBody": { "name": "Utah Division of Corporations and Commercial Code", "url": "https://commerce.utah.gov/corporations/", "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-101(9)", "quote": "the Division of Corporations and Commercial Code" } }, "amendments": [ { "date": "2026-10-01", "description": "Renumbers the Act from Title 48, Chapter 5 to Title 16, Chapter 22 under S.B. 41 (2026 General Session, Business Entity Technical Amendments); operative sections carry forward under new section numbers.", "cite": { "source": "ut-sb41-2026-enrolled", "pinpoint": "S.B. 41 (2026 General Session, Business Entity Technical Amendments), Highlighted Provisions", "quote": "renumbers Title 48, Chapter 5, Decentralized Autonomous Organization Act, to Title 16, Chapter 22, Decentralized Autonomous Organization Act" } }, { "date": "2026-10-01", "description": "Repeals the name-requirement (formerly § 48-5-105), fee-schedule (§ 48-5-107), division-certificate (§ 48-5-108), and annual-report (§ 48-5-204) sections rather than carrying them forward into the renumbered chapter.", "cite": { "source": "ut-sb40-2026-enrolled", "pinpoint": "S.B. 40 (2026 General Session, Business Entity Amendments), Section 296 (Repealer)", "quote": "Section 48-5-105, Permitted names. Section 48-5-107, Fees. Section 48-5-108, Certificates issued by the division. Section 48-5-204, Annual report to the division." } } ], "features": { "nameRequirement": { "short": "Must contain L.L.D., LLD, L.D. or LD", "value": "The name of a limited liability decentralized autonomous organization must contain the words \"limited liability decentralized autonomous organization\" or \"limited decentralized autonomous organization,\" or the abbreviation L.L.D., LLD, L.D., or LD.", "silent": false, "cite": { "source": "ut-business-entities-ch1a-2026", "pinpoint": "Utah Code § 16-1a-303(9)(a)", "quote": "(9) (a) The name of a limited liability decentralized autonomous organization shall contain: (i) the term: (A) \"limited liability decentralized autonomous organization\"; or (B) \"limited decentralized autonomous organization\"; or (ii) the abbreviation: (A) \"L.L.D.\"; (B) \"LLD\"; (C) \"L.D.\"; or (D) \"LD.\"" } }, "management": { "short": "Decentralized governance required", "value": "As a condition of formation, the organization's governance system must be decentralized.", "silent": false, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-201(3)(f)", "quote": "the governance system of the decentralized autonomous organization is decentralized" } }, "purpose": { "short": "Any lawful purpose", "value": "A qualifying decentralized autonomous organization may have any lawful purpose.", "silent": false, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-104(4)", "quote": "may have any lawful purpose" } }, "onchainIdentifier": { "short": "Permissionless chain + public address", "value": "Formation requires evidence that the organization is deployed on a permissionless blockchain and has a unique public address through which its transactions can be reviewed and monitored.", "silent": false, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-201(3)(a)-(b)", "quote": "(a) the decentralized autonomous organization is deployed on a permissionless blockchain; (b) the decentralized autonomous organization has a unique public address through which an individual can review and monitor the decentralized autonomous organization's transactions;" } }, "inactivityDissolution": { "short": "Silent", "value": "The Act does not tie dissolution to a period of member inactivity.", "silent": true, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code §§ 16-22-101 to 16-22-406" } }, "thresholds": { "short": "1 member; decentralized governance", "value": "Formation requires evidence that the organization's governance system is decentralized and that it has at least one member.", "silent": false, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-201(3)(f)-(g)", "quote": "(f) the governance system of the decentralized autonomous organization is decentralized; (g) the decentralized autonomous organization has at least one member;" } }, "liability": { "short": "On-chain contribution, with exceptions", "value": "A member may only be liable for the on-chain contributions the member has committed, and is not personally liable for excess liability, the organization's obligations, or another member's wrongful act or omission in the member's capacity as a member, except that (1) a member who votes against complying with an enforceable judgment may be liable for ordered monetary payments in proportion to the member's governance-rights share, and (2) a member remains personally liable in tort for the member's own wrongful act or omission.", "silent": false, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-202(1)-(3)", "quote": "(1) Except as set forth in Subsections (2) and (3), a member: (a) may only be liable for the on-chain contributions that the member has committed to the decentralized autonomous organization; (b) may not be held personally liable for any excess liability after the decentralized autonomous organization's assets have been exhausted; (c) may not be held personally liable for any obligation incurred by the decentralized autonomous organization; and (d) may not be held personally liable, in the member's capacity as a member, for the wrongful act or omission of any other member of the decentralized autonomous organization. (2) If a decentralized autonomous organization refuses to comply with an enforceable judgment, order, or award entered against the decentralized autonomous organization, the members who voted against compliance may be liable for any monetary payments ordered in the judgment, order, or award in proportion to the member's share of governance rights in the decentralized autonomous organization. (3) Subsections (1) and (2) do not affect the personal liability of a member in tort for a member's own wrongful act or omission." } }, "tax": { "short": "Partnership unless corp election", "value": "If eligible and electing to be classified as a corporation for federal tax purposes, the organization is subject to Utah's corporate franchise and income tax; otherwise, it is classified as a partnership for state tax purposes.", "silent": false, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-406(1), (2)(a)", "quote": "(1) If a decentralized autonomous organization recognized by this act is eligible to elect to be classified as a corporation for federal tax purposes, and the decentralized autonomous organization makes that election, the decentralized autonomous organization shall be subject to the provisions of Title 59, Chapter 7, Corporate Franchise and Income Taxes. (2) (a) Unless the decentralized autonomous organization makes the election described in Subsection (1), a decentralized autonomous organization recognized by this act shall be classified as a partnership for tax purposes and subject to the provisions of Title 59, Chapter 10, Part 14, Pass-Through Entities and Pass-Through Entity Taxpayers Act." } }, "formationFee": { "short": "$300 filing fee", "value": "The Division of Corporations and Commercial Code's Certificate of Organization form for a decentralized autonomous organization states a $300.00 non-refundable filing fee.", "silent": false, "cite": { "source": "ut-dao-application-fee-form", "pinpoint": "Certificate of Organization of a Decentralized Autonomous Organization (form)", "quote": "$300.00 Non-Refundable Filing Fee" } }, "annualFee": { "short": "Not in the Act", "value": "The Act does not itself state an annual fee amount.", "silent": true, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code §§ 16-22-101 to 16-22-406" } } }, "verifiedOn": "2026-10-13", "verifiedBy": "verbatim-quote rule; cross-vendor review" }, { "id": "us-vt/blockchain-based-llc", "jurisdiction": "us-vt", "name": "Vermont Blockchain-Based Limited Liability Company", "shortName": "VT BBLLC", "summary": [ { "text": "Lets a Vermont limited liability company organized for the purpose of operating a business that utilizes blockchain technology for a material portion of its business activities elect to be a blockchain-based limited liability company (BBLLC).", "silent": false, "cite": { "source": "vt-vsa-4172", "pinpoint": "11 V.S.A. § 4172", "quote": "A limited liability company organized pursuant to this title for the purpose of operating a business that utilizes blockchain technology for a material portion of its business activities may elect to be a blockchain-based limited liability company (BBLLC) by:" } }, { "text": "Except to the extent inconsistent with this subchapter, the Vermont Limited Liability Company Act governs.", "silent": false, "cite": { "source": "vt-vsa-4176", "pinpoint": "11 V.S.A. § 4176", "quote": "Except to the extent inconsistent with the provisions of this subchapter, the provisions of the Vermont Limited Liability Company Act govern." } } ], "citation": "11 V.S.A. §§ 4171-4176", "entityTypes": [ "BBLLC" ], "enacted": "2018-05-30", "enactedBasis": "enactment", "effective": "2018-07-01", "status": "in-force", "officialText": "vt-vsa-11-025-index", "cites": { "name": { "source": "vt-vsa-11-025-index", "pinpoint": "11 V.S.A. Title 11, Chapter 25, Subchapter 012 (heading)", "quote": "BLOCKCHAIN-BASED LIMITED LIABILITY COMPANIES" }, "citation": { "source": "vt-vsa-11-025-index", "pinpoint": "11 V.S.A. §§ 4171-4176 (subchapter index)", "quote": "§ 4176. Scope of subchapter; other law" }, "entityTypes": { "source": "vt-vsa-4172", "pinpoint": "11 V.S.A. § 4172", "quote": "may elect to be a blockchain-based limited liability company (BBLLC) by:" }, "enacted": { "source": "vt-act205-2018-enacted", "pinpoint": "No. 205 (2018), signature line", "quote": "Date Governor signed bill: May 30, 2018" }, "effective": { "source": "vt-act205-2018-enacted", "pinpoint": "No. 205 (2018) § 9, Effective Date", "quote": "This act shall take effect on July 1, 2018." } }, "filingBody": { "name": "Vermont Secretary of State", "url": "https://sos.vermont.gov/", "cite": { "source": "vt-vsa-4012", "pinpoint": "11 V.S.A. § 4012(a)", "quote": "The Secretary of State shall collect the following fees when a document described in this section is delivered to the Office of the Secretary of State for filing" } }, "amendments": [], "features": { "nameRequirement": { "short": "Silent", "value": "The subchapter does not require a specific name suffix such as DAO or LAO.", "silent": true, "cite": { "source": "vt-vsa-11-025-index", "pinpoint": "11 V.S.A. §§ 4171-4176" } }, "management": { "short": "Blockchain governance permitted", "value": "A BBLLC may provide for its governance, in whole or in part, through blockchain technology.", "silent": false, "cite": { "source": "vt-vsa-4173", "pinpoint": "11 V.S.A. § 4173(1)", "quote": "A BBLLC may provide for its governance, in whole or in part, through blockchain technology." } }, "purpose": { "short": "Silent", "value": "The subchapter does not separately address whether a BBLLC may be for profit or nonprofit.", "silent": true, "cite": { "source": "vt-vsa-11-025-index", "pinpoint": "11 V.S.A. §§ 4171-4176" } }, "onchainIdentifier": { "short": "Silent", "value": "The subchapter does not require a filed, publicly available smart-contract identifier.", "silent": true, "cite": { "source": "vt-vsa-11-025-index", "pinpoint": "11 V.S.A. §§ 4171-4176" } }, "inactivityDissolution": { "short": "Silent", "value": "The subchapter does not tie dissolution to a period of member inactivity.", "silent": true, "cite": { "source": "vt-vsa-11-025-index", "pinpoint": "11 V.S.A. §§ 4171-4176" } }, "thresholds": { "short": "Decentralization disclosure required", "value": "The operating agreement must specify whether the ledger the BBLLC uses is fully or partially decentralized and fully or partially public or private.", "silent": false, "cite": { "source": "vt-vsa-4173", "pinpoint": "11 V.S.A. § 4173(2)(B)", "quote": "specify whether the decentralized consensus ledger or database utilized or enabled by the BBLLC will be fully decentralized or partially decentralized and whether such ledger or database will be fully or partially public or private, including the extent of participants' access to information and read and write permissions with respect to protocols" } }, "liability": { "short": "General VT LLC Act governs", "value": "Except to the extent inconsistent with the BBLLC subchapter, the Vermont Limited Liability Company Act governs.", "silent": false, "cite": { "source": "vt-vsa-4176", "pinpoint": "11 V.S.A. § 4176", "quote": "Except to the extent inconsistent with the provisions of this subchapter, the provisions of the Vermont Limited Liability Company Act govern." } }, "tax": { "short": "Silent", "value": "The subchapter does not address taxation.", "silent": true, "cite": { "source": "vt-vsa-11-025-index", "pinpoint": "11 V.S.A. §§ 4171-4176" } }, "formationFee": { "short": "$155 LLC filing fee", "value": "Vermont's Secretary of State fee schedule sets a $155.00 filing fee for LLC articles of organization.", "silent": false, "cite": { "source": "vt-vsa-4012", "pinpoint": "11 V.S.A. § 4012(a)(1)", "quote": "Articles of organization $155.00" } }, "annualFee": { "short": "$45 LLC annual report fee", "value": "Vermont's Secretary of State fee schedule sets the domestic LLC annual report fee at $45.00.", "silent": false, "cite": { "source": "vt-vsa-4012", "pinpoint": "11 V.S.A. § 4012(a)(15)", "quote": "Annual report of a domestic limited liability company $45.00" } } }, "verifiedOn": "2026-09-25", "verifiedBy": "verbatim-quote rule; cross-vendor review" }, { "id": "us-wy/dao-supplement", "jurisdiction": "us-wy", "name": "Wyoming Decentralized Autonomous Organization Supplement", "shortName": "WY DAO Supplement", "summary": [ { "text": "A Wyoming limited liability company elects decentralized autonomous organization status through a statement in its articles of organization that the company is a decentralized autonomous organization.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-104(a)", "quote": "A decentralized autonomous organization is a limited liability company whose articles of organization contain a statement that the company is a decentralized autonomous organization as described in subsection (c) of this section." } }, { "text": "The Wyoming Limited Liability Company Act applies to decentralized autonomous organizations to the extent not inconsistent with the Supplement.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-103(a)", "quote": "The Wyoming Limited Liability Company Act applies to decentralized autonomous organizations to the extent not inconsistent with the provisions of this chapter" } } ], "citation": "W.S. 17-31-101 to 17-31-116", "entityTypes": [ "DAO LLC" ], "enacted": "2021-04-21", "enactedBasis": "enactment", "effective": "2021-07-01", "status": "amended", "officialText": "wy-dao-supplement-sos", "cites": { "name": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-101", "quote": "This chapter shall be known and may be cited as the \"Wyoming Decentralized Autonomous Organization Supplement.\"" }, "citation": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-101 to 17-31-116", "quote": "17-31-116. Foreign decentralized autonomous organization." }, "entityTypes": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-104(d)", "quote": "The registered name for a decentralized autonomous organization shall include wording or abbreviation to denote its status as a decentralized autonomous organization, specifically \"DAO\", \"LAO\", or \"DAO LLC.\"" }, "enacted": { "source": "wy-sf0038-2021-digest", "pinpoint": "Legislative history, SF0038 (2021 General Session)", "quote": "4/21/2021 Governor Signed SEA No. 0073" }, "effective": { "source": "wy-sf0038-2021-enrolled", "pinpoint": "Section 2", "quote": "This act is effective July 1, 2021" } }, "filingBody": { "name": "Wyoming Secretary of State", "url": "https://sos.wyo.gov/", "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-105(a)", "quote": "Any person may form a decentralized autonomous organization which shall have one (1) or more members by signing and delivering one (1) original and one (1) exact or conformed copy of the articles of organization to the secretary of state for filing." } }, "amendments": [ { "date": "2022-03-09", "description": "Amended the definitions, the obligations of members and dissociated members, and the factors for dissolution; repealed some definitions and provisions.", "cite": { "source": "wy-sf0068-2022-digest", "pinpoint": "Senate File No. SF0068, Enrolled Act No. 16, Session Laws of Wyoming 2022, ch. 36", "quote": "amending the obligations of members and dissociated members; amending factors for dissolution of a decentralized autonomous organization" } } ], "features": { "nameRequirement": { "short": "DAO, LAO or DAO LLC", "value": "The registered name must include \"DAO\", \"LAO\" or \"DAO LLC\".", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-104(d)", "quote": "The registered name for a decentralized autonomous organization shall include wording or abbreviation to denote its status as a decentralized autonomous organization, specifically \"DAO\", \"LAO\", or \"DAO LLC.\"" } }, "management": { "short": "Member-set, may be algorithmic", "value": "A statement in the articles of organization must establish how the organization is managed by its members, including to what extent management is conducted algorithmically.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-104(e)", "quote": "A statement in the articles of organization shall establish how the decentralized autonomous organization shall be managed by the members, including to what extent the management will be conducted algorithmically." } }, "purpose": { "short": "Either", "value": "May form and operate for any lawful purpose, for profit or not.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-105(c)", "quote": "A decentralized autonomous organization may form and operate for any lawful purpose, regardless of whether for profit." } }, "onchainIdentifier": { "short": "Required", "value": "The articles must include a publicly available identifier of any smart contract used to manage, facilitate or operate the organization.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-106(b)", "quote": "In addition to the requirements of subsection (a) of this section the articles of organization shall include a publicly available identifier of any smart contract directly used to manage, facilitate or operate the decentralized autonomous organization." } }, "inactivityDissolution": { "short": "1 year", "value": "Dissolution when no proposals are approved and no actions taken for one year.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-114(a)(iv)", "quote": "The decentralized autonomous organization has failed to approve any proposals or take any actions for a period of one (1) year;" } }, "thresholds": { "short": "1 member minimum", "value": "A DAO must have one or more members.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-105(a)", "quote": "shall have one (1) or more members" } }, "liability": { "short": "General WY LLC Act applies", "value": "The Wyoming Limited Liability Company Act applies to decentralized autonomous organizations to the extent not inconsistent with the Supplement.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-103(a)", "quote": "The Wyoming Limited Liability Company Act applies to decentralized autonomous organizations to the extent not inconsistent with the provisions of this chapter" } }, "tax": { "short": "Silent", "value": "The Supplement does not address taxation.", "silent": true, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-101 to 17-31-116" } }, "formationFee": { "short": "$100 LLC filing fee", "value": "Wyoming's Secretary of State fee schedule sets a $100.00 filing fee for LLC articles of organization.", "silent": false, "cite": { "source": "wy-sos-fee-schedule-2026", "pinpoint": "Limited Liability Companies: Articles of Organization, Wyoming SOS Filing Fee Schedule (effective July 1, 2026)", "quote": "Articles of Organization*/Continuance/Domestication .......................................$100.00" } }, "annualFee": { "short": "$60 min. LLC annual tax", "value": "Wyoming's Secretary of State fee schedule sets the LLC annual report license tax at $60, or two-tenths of one mill on the dollar of the company's Wyoming-based assets, whichever is greater.", "silent": false, "cite": { "source": "wy-sos-fee-schedule-2026", "pinpoint": "Limited Liability Companies, Wyoming SOS Filing Fee Schedule (effective July 1, 2026)", "quote": "Annual Report License tax is $60 or two-tenths of one mill on the dollar ($.0002) whichever is greater based on the company's assets located and employed in the state of Wyoming." } } }, "verifiedOn": "2026-09-25", "verifiedBy": "verbatim-quote rule; cross-vendor review" }, { "id": "us-wy/duna", "jurisdiction": "us-wy", "name": "Wyoming Decentralized Unincorporated Nonprofit Association Act", "shortName": "WY DUNA", "summary": [ { "text": "The definition requires at least one hundred (100) members joined by mutual consent for a common nonprofit purpose.", "silent": false, "cite": { "source": "wy-title17-2026-compiled", "pinpoint": "W.S. 17-32-102(a)(iii)(A)", "quote": "Consists of at least one hundred (100) members joined by mutual consent under an agreement, that may be in writing or inferred from conduct, for a common nonprofit purpose;" } }, { "text": "A decentralized unincorporated nonprofit association is a legal entity separate from its members for the purposes of determining and enforcing rights, duties and liabilities in contract and tort.", "silent": false, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-107(a)", "quote": "A decentralized unincorporated nonprofit association is a legal entity separate from its members for the purposes of determining and enforcing rights, duties and liabilities in contract and tort." } }, { "text": "Its governing principles may include association agreements, consensus formation algorithms, smart contracts or enacted governance proposals.", "silent": false, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-102(a)(vii)", "quote": "\"Governing principles\" means all agreements and any amendment or restatement of those agreements, including any decentralized unincorporated nonprofit association agreements, consensus formation algorithms, smart contracts or enacted governance proposals" } } ], "citation": "W.S. 17-32-101 to 17-32-129", "entityTypes": [ "Decentralized unincorporated nonprofit association (commonly called DUNA)" ], "enacted": "2024-03-07", "enactedBasis": "enactment", "effective": "2024-07-01", "status": "amended", "officialText": "wy-title17-2026-compiled", "cites": { "name": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-101", "quote": "This act shall be known and may be cited as the \"Wyoming Decentralized Unincorporated Nonprofit Association Act.\"" }, "citation": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-101 to 17-32-129", "quote": "17-32-129. Supplemental principles of law." }, "entityTypes": { "source": "wy-title17-2026-compiled", "pinpoint": "W.S. 17-32-102(a)(iii)", "quote": "\"Decentralized unincorporated nonprofit association\" means an unincorporated nonprofit association that meets the following requirements:" }, "enacted": { "source": "wy-sf0050-2024-digest", "pinpoint": "Legislative history, SF0050 (2024 Budget Session)", "quote": "3/7/2024 Governor Signed SEA No. 0023" }, "effective": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "Section 2", "quote": "This act is effective July 1, 2024" } }, "filingBody": { "name": "Wyoming Secretary of State", "url": "https://sos.wyo.gov/", "note": { "text": "Optional filing: a statement appointing an agent to receive service of process.", "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-110(a)", "quote": "A decentralized unincorporated nonprofit association may file in the office of the secretary of state a statement appointing an agent authorized to receive service of process." } }, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-110(a)", "quote": "A decentralized unincorporated nonprofit association may file in the office of the secretary of state a statement appointing an agent authorized to receive service of process." } }, "amendments": [ { "date": "2026-07-01", "description": "Amendment takes effect 2026-07-01.", "cite": { "source": "wy-sf0022-2026-enrolled", "pinpoint": "SF0022 (2026 Budget Session), Section 3", "quote": "This act is effective July 1, 2026" } } ], "features": { "nameRequirement": { "short": "Silent", "value": "The Act does not require a specific name suffix such as DAO or LAO.", "silent": true, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-101 to 17-32-129" } }, "management": { "short": "No administrator required", "value": "The Act does not require the association to have an administrator.", "silent": false, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-123(c)", "quote": "No decentralized unincorporated nonprofit association shall be required to have an administrator, and the rights and duties of all administrators shall be established as part of the authorization of authority to act as an administrator." } }, "purpose": { "short": "Nonprofit, profit-making allowed", "value": "May engage in profit-making activities, but profits must be used for or set aside for the association's common nonprofit purpose.", "silent": false, "cite": { "source": "wy-sf0022-2026-enrolled", "pinpoint": "W.S. 17-32-104(a)", "quote": "A decentralized unincorporated nonprofit association may engage in profit-making activities, but profits from any activities shall be used in furtherance of, or set aside for, the decentralized unincorporated nonprofit association's common nonprofit purpose." } }, "onchainIdentifier": { "short": "Silent", "value": "The Act does not require a filed, publicly available smart-contract identifier.", "silent": true, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-101 to 17-32-129" } }, "inactivityDissolution": { "short": "Silent", "value": "The Act does not tie dissolution to a period of member inactivity.", "silent": true, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-101 to 17-32-129" } }, "thresholds": { "short": "100 members minimum", "value": "Requires at least 100 members joined by mutual consent for a common nonprofit purpose.", "silent": false, "cite": { "source": "wy-title17-2026-compiled", "pinpoint": "W.S. 17-32-102(a)(iii)(A)", "quote": "Consists of at least one hundred (100) members joined by mutual consent under an agreement, that may be in writing or inferred from conduct, for a common nonprofit purpose;" } }, "liability": { "short": "No contract liability merely as member", "value": "A person is not personally liable for the association's contracts merely because the person is a member, an administrator, or someone authorized to participate in the association's management.", "silent": false, "cite": { "source": "wy-sf0022-2026-enrolled", "pinpoint": "W.S. 17-32-107(b)", "quote": "A person is not liable for a breach of a decentralized unincorporated nonprofit association's contract merely because the person is a member, administrator, authorized to participate in the management of the affairs of the decentralized unincorporated nonprofit association or considered as a member by the decentralized unincorporated nonprofit association." } }, "tax": { "short": "Silent", "value": "The Act does not address taxation.", "silent": true, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-101 to 17-32-129" } }, "formationFee": { "short": "Not in the Act", "value": "The Act does not itself state a dollar formation fee.", "silent": true, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-101 to 17-32-129" } }, "annualFee": { "short": "Not in the Act", "value": "The Act does not impose an annual report fee.", "silent": true, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-101 to 17-32-129" } } }, "verifiedOn": "2026-10-13", "verifiedBy": "verbatim-quote rule; cross-vendor review" } ], "bills": [ { "id": "us-sc-h4766", "jurisdiction": "us-sc", "number": "H. 4766", "title": "South Carolina Decentralized Autonomous Organization Act", "sponsor": "Rep. M.M. Smith", "stage": { "text": "Referred to the House Committee on Labor, Commerce and Industry", "silent": false, "cite": { "source": "sc-h4766-status", "pinpoint": "H. 4766, History of Legislative Actions, 1/13/2026 entry", "quote": "1/13/2026 House Referred to Committee on Labor, Commerce and Industry" } }, "lastAction": { "date": "2026-01-13", "description": "House: Referred to Committee on Labor, Commerce and Industry", "cite": { "source": "sc-h4766-status", "pinpoint": "H. 4766, History of Legislative Actions, 1/13/2026 entry", "quote": "1/13/2026 House Referred to Committee on Labor, Commerce and Industry" } }, "outcome": "pending", "sessionNote": { "text": "The 2026 regular session adjourned sine die on 2026-05-14.", "silent": false, "cite": { "source": "sc-senate-journal-2026-05-15", "pinpoint": "Senate Journal, May 15, 2026, Executive Order No. 2026-09 (recital)", "quote": "on May 14, 2026, the regular annual session of the General Assembly of the State of South Carolina adjourned sine die in accordance with section 2-1-180" } }, "cite": { "source": "sc-h4766-status", "pinpoint": "H. 4766, 126th General Assembly (2025-2026 Session), History of Legislative Actions", "quote": "1/13/2026 House Referred to Committee on Labor, Commerce and Industry" }, "cites": { "title": { "source": "sc-h4766-status", "pinpoint": "H. 4766, Bill Text, long title", "quote": "SOUTH CAROLINA DECENTRALIZED AUTONOMOUS ORGANIZATION ACT" }, "sponsor": { "source": "sc-h4766-status", "pinpoint": "H. 4766, Status Information", "quote": "Sponsors: Rep. M.M. Smith" } }, "verifiedOn": "2026-10-13", "verifiedBy": "verbatim-quote rule; cross-vendor review" }, { "id": "us-wv-hb5060", "jurisdiction": "us-wv", "number": "HB 5060", "title": "Relating to Decentralized Unincorporated Nonprofit Associations", "stage": { "text": "Passed the House (Roll No. 296) on 2026-03-04; referred to the Senate Judiciary Committee on 2026-03-05", "silent": false, "cite": { "source": "wv-hb5060-2026-history", "pinpoint": "House Bill 5060 bill history page, ACTIONS list (Senate referral 03/05/26; Passed House, Roll No. 296, 03/04/26)", "quote": "S To Judiciary 03/05/26 S Introduced in Senate 03/05/26 382 H Communicated to Senate 03/04/26 H Passed House (Roll No. 296) 03/04/26" } }, "lastAction": { "date": "2026-03-05", "description": "Referred to the Senate Judiciary Committee, the last action listed", "cite": { "source": "wv-hb5060-2026-history", "pinpoint": "House Bill 5060 bill history page, LAST ACTION line", "quote": "House Bill 5060 Legislative Session: 2026(RS) LAST ACTION: S To Judiciary 03/05/26" } }, "outcome": "pending", "sessionNote": { "text": "The 2026 regular session has ended; the Senate adjourned sine die.", "silent": false, "cite": { "source": "wv-senate-2026-rs-sine-die", "pinpoint": "West Virginia Legislature, Senate Floor Session post of March 14, 2026 (final day)", "quote": "303 bills completed legislative action during the 2026 Regular Session. The Senate has adjourned Sine Die" } }, "cite": { "source": "wv-hb5060-2026-history", "pinpoint": "House Bill 5060 bill history page, LAST ACTION line", "quote": "House Bill 5060 Legislative Session: 2026(RS) LAST ACTION: S To Judiciary 03/05/26" }, "cites": { "title": { "source": "wv-hb5060-2026-history", "pinpoint": "House Bill 5060 bill history page, SUMMARY line", "quote": "House Bill 5060 Legislative Session: 2026(RS) LAST ACTION: S To Judiciary 03/05/26 SUMMARY: Relating to Decentralized Unincorporated Nonprofit Associations" } }, "verifiedOn": "2026-10-13", "verifiedBy": "verbatim-quote rule; primary-source verification (West Virginia Legislature bill history page)" } ], "decisions": [ { "id": "cftc-v-ooki-dao", "body": "U.S. District Court for the Northern District of California", "caseName": "Commodity Futures Trading Commission v. Ooki DAO", "docket": "3:22-cv-05416", "date": "2023-06-08", "holding": { "text": "Pursuant to the court's order on the motion for default judgment, judgment was entered in favor of the CFTC and against Ooki DAO in the amount of $643,542, together with a permanent injunction against Ooki DAO.", "silent": false, "cite": { "source": "cl-ooki-dao-docket-77", "pinpoint": "Docket No. 3:22-cv-05416, Docket Entry 77 (Judgment), p. 1", "quote": "Pursuant to this Court's Order on Motion for Default Judgment, dated June 8, 2023, [Dkt. No. 76], IT IS HEREBY ORDERED THAT JUDGMENT BE, AND HEREBY IS, entered in favor of plaintiff Commodity Futures Trading Commission (\"CFTC\") and against defendant Ooki DAO in accordance with the prayer for relief in the complaint, and in the amount of $643,542. IT IS FURTHER ORDERED AND ADJUDGED that the following permanent injunction is entered against Ooki DAO" } }, "proceduralStatus": { "text": "Judgment entered.", "silent": false, "cite": { "source": "cl-ooki-dao-docket-77", "pinpoint": "Docket No. 3:22-cv-05416, Docket Entry 77 (Judgment)", "quote": "IT IS HEREBY ORDERED THAT JUDGMENT BE, AND HEREBY IS, entered in favor of plaintiff Commodity Futures Trading Commission (\"CFTC\") and against defendant Ooki DAO in accordance with the prayer for relief in the complaint, and in the amount of $643,542." } }, "cite": { "source": "cl-ooki-dao-docket-77", "pinpoint": "Docket No. 3:22-cv-05416, Docket Entry 77 (Judgment)", "quote": "IT IS HEREBY ORDERED THAT JUDGMENT BE, AND HEREBY IS, entered in favor of plaintiff Commodity Futures Trading Commission (\"CFTC\") and against defendant Ooki DAO in accordance with the prayer for relief in the complaint, and in the amount of $643,542." }, "verifiedOn": "2026-10-13", "verifiedBy": "verbatim-quote rule; cross-vendor review" }, { "id": "samuels-v-lido-dao", "body": "U.S. District Court for the Northern District of California", "caseName": "Samuels v. Lido DAO", "docket": "3:23-cv-06492", "date": "2024-11-18", "holding": { "text": "At the pleading stage, on the motions to dismiss, the court held that Samuels pled sufficient facts to allow the reasonable inference that a Lido DAO general partnership was formed.", "silent": false, "cite": { "source": "cl-samuels-lido-dao-docket-115", "pinpoint": "Docket No. 3:23-cv-06492, Docket Entry 115 (Order re Motions to Dismiss), p. 11", "quote": "Samuels has therefore pled sufficient facts to allow the reasonable inference that a Lido DAO general partnership was formed." } }, "proceduralStatus": { "text": "Stayed pending appeal.", "silent": false, "cite": { "source": "cl-samuels-lido-dao-docket-201", "pinpoint": "Docket No. 3:23-cv-06492, Docket Entry 201", "quote": "While the case is stayed pending appeal" } }, "cite": { "source": "cl-samuels-lido-dao-docket-115", "pinpoint": "Docket No. 3:23-cv-06492, Docket Entry 115 (Order re Motions to Dismiss), pp. 1-2", "quote": "alleged that Lido DAO is not immune from suit. Specifically, he has alleged that Lido is a general partnership within the meaning of California law." }, "verifiedOn": "2026-10-13", "verifiedBy": "verbatim-quote rule; primary-source re-read of the order" }, { "id": "sarcuni-v-bzx-dao", "body": "U.S. District Court for the Southern District of California", "caseName": "Sarcuni v. bZx DAO", "docket": "3:22-cv-00618", "date": "2023-03-27", "holding": { "text": "At the pleading stage, accepting the allegations in the first amended complaint as true, the court found that plaintiffs stated facts sufficient to allege that a general partnership existed among the BZRX tokenholders.", "silent": false, "cite": { "source": "cl-sarcuni-bzx-dao-docket-49", "pinpoint": "Docket No. 3:22-cv-00618, Docket Entry 49 (Order on Motions to Dismiss), p. 17, lines 26-28", "quote": "Accepting the allegations in the FAC as true, the Court finds that Plaintiffs have stated facts sufficient to allege that a general partnership existed among the BZRX tokenholders." } }, "proceduralStatus": { "text": "Dismissed with prejudice.", "silent": false, "cite": { "source": "cl-sarcuni-bzx-dao-docket-79", "pinpoint": "Docket No. 3:22-cv-00618, Docket Entry 79 (Order of Dismissal)", "quote": "DISMISSED WITH PREJUDICE in its entirety" } }, "cite": { "source": "cl-sarcuni-bzx-dao-docket-49", "pinpoint": "Docket No. 3:22-cv-00618, Docket Entry 49 (Order on Motions to Dismiss), p. 17, lines 26-28", "quote": "Accepting the allegations in the FAC as true, the Court finds that Plaintiffs have stated facts sufficient to allege that a general partnership existed among the BZRX tokenholders." }, "verifiedOn": "2026-10-13", "verifiedBy": "verbatim-quote rule; primary-source re-read of the order" } ], "glossary": [ { "id": "algorithmically-managed", "term": "Algorithmically managed", "definition": [ { "text": "Under the Marshall Islands DAO Act, algorithmically managed describes a decentralized autonomous organization whose management is vested in a smart contract rather than in its members, unless the certificate of formation or limited liability company agreement provides otherwise.", "silent": false, "cite": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §108", "quote": "Management of a decentralized autonomous organization shall be vested in its members, if member managed, or the smart contract, if algorithmically managed, unless otherwise provided in the certificate of formation or limited liability company agreement." } } ] }, { "id": "dao-llc", "term": "DAO LLC", "definition": [ { "text": "Under Wyoming law, a DAO LLC is a limited liability company whose articles of organization contain a statement that the company is a decentralized autonomous organization.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-104(a)", "quote": "A decentralized autonomous organization is a limited liability company whose articles of organization contain a statement that the company is a decentralized autonomous organization as described in subsection (c) of this section." } }, { "text": "Under Wyoming law, its registered name must denote that status by one of the designations \"DAO\", \"LAO\", or \"DAO LLC\".", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-104(d)", "quote": "The registered name for a decentralized autonomous organization shall include wording or abbreviation to denote its status as a decentralized autonomous organization, specifically \"DAO\", \"LAO\", or \"DAO LLC.\"" } }, { "text": "Under the Marshall Islands DAO Act, management of the organization is vested in its members, or in a smart contract, unless otherwise provided in the certificate of formation or limited liability company agreement.", "silent": false, "cite": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §108", "quote": "Management of a decentralized autonomous organization shall be vested in its members, if member managed, or the smart contract, if algorithmically managed, unless otherwise provided in the certificate of formation or limited liability company agreement." } } ] }, { "id": "dao", "term": "Decentralized autonomous organization (DAO)", "definition": [ { "text": "A decentralized autonomous organization may form and operate for any lawful purpose, whether or not for profit.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-105(c)", "quote": "A decentralized autonomous organization may form and operate for any lawful purpose, regardless of whether for profit." } }, { "text": "Under Utah's DAO Act, any lawful purpose may be had.", "silent": false, "cite": { "source": "ut-dao-act-2026-codified", "pinpoint": "Utah Code § 16-22-104(4)", "quote": "may have any lawful purpose" } }, { "text": "Where a smart contract is used to manage, facilitate, or operate the organization, the Wyoming Supplement requires its publicly available identifier in the articles of organization.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-106(b)", "quote": "In addition to the requirements of subsection (a) of this section the articles of organization shall include a publicly available identifier of any smart contract directly used to manage, facilitate or operate the decentralized autonomous organization." } } ] }, { "id": "duna", "term": "Decentralized unincorporated nonprofit association (DUNA)", "definition": [ { "text": "A DUNA is an association of at least 100 members joined by mutual consent for a common nonprofit purpose.", "silent": false, "cite": { "source": "wy-title17-2026-compiled", "pinpoint": "W.S. 17-32-102(a)(iii)(A)", "quote": "Consists of at least one hundred (100) members joined by mutual consent under an agreement, that may be in writing or inferred from conduct, for a common nonprofit purpose;" } }, { "text": "Under Wyoming's DUNA Act, it is a legal entity separate from its members for determining and enforcing rights, duties, and liabilities in contract and tort.", "silent": false, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-107(a)", "quote": "A decentralized unincorporated nonprofit association is a legal entity separate from its members for the purposes of determining and enforcing rights, duties and liabilities in contract and tort." } } ] }, { "id": "lao", "term": "LAO", "definition": [ { "text": "LAO is one of the three name designations Wyoming's DAO Supplement permits an organization electing decentralized autonomous organization status to use in its registered name, alongside \"DAO\" and \"DAO LLC\".", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-104(d)", "quote": "The registered name for a decentralized autonomous organization shall include wording or abbreviation to denote its status as a decentralized autonomous organization, specifically \"DAO\", \"LAO\", or \"DAO LLC.\"" } }, { "text": "The statute does not itself define what the abbreviation stands for.", "silent": true, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-102" } } ] }, { "id": "member-managed", "term": "Member-managed", "definition": [ { "text": "Under the Marshall Islands DAO Act, member-managed describes a decentralized autonomous organization whose management is vested in its members rather than in a smart contract, unless the certificate of formation or limited liability company agreement provides otherwise.", "silent": false, "cite": { "source": "mh-dao-act-2022-original", "pinpoint": "P.L. 2022-50 §108", "quote": "Management of a decentralized autonomous organization shall be vested in its members, if member managed, or the smart contract, if algorithmically managed, unless otherwise provided in the certificate of formation or limited liability company agreement." } } ] }, { "id": "registered-agent", "term": "Registered agent", "definition": [ { "text": "Under Wyoming's DUNA Act, an association may file with the secretary of state a statement appointing an agent authorized to receive service of process.", "silent": false, "cite": { "source": "wy-sf0050-2024-enrolled", "pinpoint": "W.S. 17-32-110(a)", "quote": "A decentralized unincorporated nonprofit association may file in the office of the secretary of state a statement appointing an agent authorized to receive service of process." } }, { "text": "New Hampshire requires each decentralized autonomous organization to maintain a registered office and a registered agent in the state.", "silent": false, "cite": { "source": "nh-rsa301b-9", "pinpoint": "RSA 301-B:9, I", "quote": "Each New Hampshire DAO shall have and maintain in the state of New Hampshire: (a) A registered office; and (b) A registered agent" } } ] }, { "id": "smart-contract-identifier", "term": "Smart-contract identifier", "definition": [ { "text": "A smart-contract identifier is the publicly available identifier of a smart contract that a decentralized autonomous organization statute requires an organization to disclose in its articles of organization when that smart contract is used to manage, facilitate, or operate the organization.", "silent": false, "cite": { "source": "wy-dao-supplement-sos", "pinpoint": "W.S. 17-31-106(b)", "quote": "the articles of organization shall include a publicly available identifier of any smart contract directly used to manage, facilitate or operate the decentralized autonomous organization." } } ] } ], "changes": [ { "id": "2026-10-14-algorithmically-managed-added", "date": "2026-10-14", "record": "glossary/algorithmically-managed", "type": "added", "summary": "Added Algorithmically managed.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-cftc-v-ooki-dao-added", "date": "2026-10-14", "record": "decisions/cftc-v-ooki-dao", "type": "added", "summary": "Added Commodity Futures Trading Commission v. Ooki DAO.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-dao-added", "date": "2026-10-14", "record": "glossary/dao", "type": "added", "summary": "Added Decentralized autonomous organization (DAO).", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-dao-llc-added", "date": "2026-10-14", "record": "glossary/dao-llc", "type": "added", "summary": "Added DAO LLC.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-duna-added", "date": "2026-10-14", "record": "glossary/duna", "type": "added", "summary": "Added Decentralized unincorporated nonprofit association (DUNA).", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-lao-added", "date": "2026-10-14", "record": "glossary/lao", "type": "added", "summary": "Added LAO.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-member-managed-added", "date": "2026-10-14", "record": "glossary/member-managed", "type": "added", "summary": "Added Member-managed.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-mh-dao-act-2022-added", "date": "2026-10-14", "record": "laws/mh/dao-act-2022", "type": "added", "summary": "Added Republic of the Marshall Islands Decentralized Autonomous Organization Act 2022.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-registered-agent-added", "date": "2026-10-14", "record": "glossary/registered-agent", "type": "added", "summary": "Added Registered agent.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-samuels-v-lido-dao-added", "date": "2026-10-14", "record": "decisions/samuels-v-lido-dao", "type": "added", "summary": "Added Samuels v. Lido DAO.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-sarcuni-v-bzx-dao-added", "date": "2026-10-14", "record": "decisions/sarcuni-v-bzx-dao", "type": "added", "summary": "Added Sarcuni v. bZx DAO.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-smart-contract-identifier-added", "date": "2026-10-14", "record": "glossary/smart-contract-identifier", "type": "added", "summary": "Added Smart-contract identifier.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-us-al-duna-added", "date": "2026-10-14", "record": "laws/us-al/duna", "type": "added", "summary": "Added Alabama Decentralized Unincorporated Nonprofit Association Law.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-us-nh-dao-act-added", "date": "2026-10-14", "record": "laws/us-nh/dao-act", "type": "added", "summary": "Added New Hampshire Decentralized Autonomous Organization Act.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-us-sc-h4766-added", "date": "2026-10-14", "record": "bills/us-sc-h4766", "type": "added", "summary": "Added H. 4766, South Carolina Decentralized Autonomous Organization Act.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-us-tn-decentralized-organization-supplement-added", "date": "2026-10-14", "record": "laws/us-tn/decentralized-organization-supplement", "type": "added", "summary": "Added Tennessee Decentralized Organization Supplement.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-us-ut-dao-act-added", "date": "2026-10-14", "record": "laws/us-ut/dao-act", "type": "added", "summary": "Added Utah Decentralized Autonomous Organization Act.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-us-vt-blockchain-based-llc-added", "date": "2026-10-14", "record": "laws/us-vt/blockchain-based-llc", "type": "added", "summary": "Added Vermont Blockchain-Based Limited Liability Company.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-us-wv-hb5060-added", "date": "2026-10-14", "record": "bills/us-wv-hb5060", "type": "added", "summary": "Added West Virginia HB 5060, Relating to Decentralized Unincorporated Nonprofit Associations.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-us-wy-dao-supplement-added", "date": "2026-10-14", "record": "laws/us-wy/dao-supplement", "type": "added", "summary": "Added Wyoming Decentralized Autonomous Organization Supplement.", "verification": "Each quoted passage checked verbatim against its cited primary source." }, { "id": "2026-10-14-us-wy-duna-added", "date": "2026-10-14", "record": "laws/us-wy/duna", "type": "added", "summary": "Added Wyoming Decentralized Unincorporated Nonprofit Association Act.", "verification": "Each quoted passage checked verbatim against its cited primary source." } ], "statusAsOf": "2026-10-14" }