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Glossary

Algorithmically managed

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.

Statutory text behind this definition

  1. Sentence 1

    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.

    P.L. 2022-50 §108, Decentralized Autonomous Organization Act 2022 (P.L. 2022-50, as originally enacted)

DAO LLC

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. Under the Marshall Islands DAO Act, a DAO LLC is a resident domestic limited liability company whose certificate of formation or limited liability company agreement contains a statement that the company is a decentralized autonomous organization. Under Wyoming law, a DAO LLC's registered name must denote that status by one of the designations "DAO", "LAO", or "DAO LLC". 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.

Statutory text behind this definition

  1. Sentence 1

    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.

    W.S. 17-31-104(a), Wyoming Decentralized Autonomous Organization Supplement (W.S. 17-31)

  2. Sentence 2

    A decentralized autonomous organization is a resident domestic limited liability company whose certificate of formation or limited liability company agreement contain a statement that the company is a decentralized autonomous organization as described in subsection (3) of this section.

    P.L. 2022-50 §104(1), Decentralized Autonomous Organization Act 2022 (P.L. 2022-50, as originally enacted)

  3. Sentence 3

    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."

    W.S. 17-31-104(d), Wyoming Decentralized Autonomous Organization Supplement (W.S. 17-31)

  4. Sentence 4

    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.

    P.L. 2022-50 §108, Decentralized Autonomous Organization Act 2022 (P.L. 2022-50, as originally enacted)

Decentralized autonomous organization (DAO)

A decentralized autonomous organization may form and operate for any lawful purpose, whether or not for profit. Under Utah's DAO Act, any lawful purpose may be had. 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.

Statutory text behind this definition

  1. Sentence 1

    A decentralized autonomous organization may form and operate for any lawful purpose, regardless of whether for profit.

    W.S. 17-31-105(c), Wyoming Decentralized Autonomous Organization Supplement (W.S. 17-31)

  2. Sentence 2

    may have any lawful purpose

    Utah Code § 16-22-104(4), Utah Code Title 16, Chapter 22, Decentralized Autonomous Organization Act (effective October 1, 2026)

  3. Sentence 3

    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.

    W.S. 17-31-106(b), Wyoming Decentralized Autonomous Organization Supplement (W.S. 17-31)

Decentralized unincorporated nonprofit association (DUNA)

A DUNA is an association of at least 100 members joined by mutual consent for a common nonprofit purpose. 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.

Statutory text behind this definition

  1. Sentence 1

    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;

    W.S. 17-32-102(a)(iii)(A), Wyoming Statutes Title 17, Corporations, Partnerships and Associations (compiled statutes PDF, last modified 2026-05-08)

  2. Sentence 2

    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.

    W.S. 17-32-107(a), Senate File No. SF0050, Enrolled Act No. 23 (2024 Budget Session)

LAO

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". The statute does not itself define what the abbreviation stands for.

Statutory text behind this definition

  1. Sentence 1

    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."

    W.S. 17-31-104(d), Wyoming Decentralized Autonomous Organization Supplement (W.S. 17-31)

  2. Sentence 2

    The source text does not address this. Checked: W.S. 17-31-102, Wyoming Decentralized Autonomous Organization Supplement (W.S. 17-31)

Member-managed

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.

Statutory text behind this definition

  1. Sentence 1

    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.

    P.L. 2022-50 §108, Decentralized Autonomous Organization Act 2022 (P.L. 2022-50, as originally enacted)

Registered agent

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. New Hampshire requires each decentralized autonomous organization to maintain a registered office and a registered agent in the state.

Statutory text behind this definition

  1. Sentence 1

    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.

    W.S. 17-32-110(a), Senate File No. SF0050, Enrolled Act No. 23 (2024 Budget Session)

  2. Sentence 2

    Each New Hampshire DAO shall have and maintain in the state of New Hampshire: (a) A registered office; and (b) A registered agent

    RSA 301-B:9, I, RSA 301-B:9 Registered Agent in New Hampshire

Smart-contract identifier

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.

Statutory text behind this definition

  1. Sentence 1

    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.

    W.S. 17-31-106(b), Wyoming Decentralized Autonomous Organization Supplement (W.S. 17-31)