Title XXVII, Corporations, Associations, and Proprietors of Common Lands

I. 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. II. Except as authorized by paragraph IV, V, or VI, a DAO name, …

I. The registry administrator shall maintain a registry of New Hampshire DAOs that have satisfied the listing requirements set forth in RSA 301-B:15. The registry shall be referred to as the New Hampshire DAO registry. II. With respect to each New Hampshire DAO listed in the New …

I. 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 o…

I. Every New Hampshire DAO shall have bylaws that set forth the purposes, powers, and rules and procedures for the internal organization, governance, capital requirements and other procedures of the New Hampshire DAO. II. The bylaws shall accurately reflect the rules, terms, inst…

I. The bylaws shall specify rules for determining which persons are participants in the New Hampshire DAO. II. The bylaws shall specify rules establishing the governance rights of participants, exercisable pursuant to tokens or otherwise. III. If the bylaws provide for meetings o…

I. A New Hampshire DAO is not required to appoint administrators, including a board of directors or a trustee. A New Hampshire DAO may specify in its bylaws rules for appointing and removing administrators and establishing the powers, rights, privileges, immunities, duties, and l…

I. A New Hampshire DAO may authorize one or more legal representatives to undertake tasks that cannot be achieved on-chain, including the New Hampshire legal representative as required by RSA 301-B:9. The scope of authority delegated to legal representatives shall be set forth in…

The general court finds that the state's economy and its citizens will benefit from, and the development of business and investment in New Hampshire will be facilitated by, making available a unique legal entity form that can provide a framework that enhances the capacity of dece…

Developers, participants, administrators or legal representatives of a DAO shall not be imputed to have fiduciary duties towards each other or third parties solely on the basis of their role, unless the person acting in such a role explicitly holds itself out as a fiduciary, or t…

In any matter relating to the New Hampshire DAO, a developer, participant, administrator or legal representative shall be fully protected from liability to the New Hampshire DAO and to the participants if the person acting in such a role relies, in a manner consistent with contra…

The bylaws may provide for the limitation or elimination of any and all liabilities for breach of contract and breach of duties, including fiduciary duties, of a developer, participant, administrator, legal representative, or other person to a New Hampshire DAO or to another part…

I. Except as provided in paragraph II, and subject to such standards and restrictions, if any, as are set forth in its bylaws, a New Hampshire DAO may, and shall have the power to, indemnify any participant or administrator or other person made a party to a proceeding or threaten…

The attorney general may apply to the superior court for a decree of deregistration of a New Hampshire DAO, and the superior court may issue such a decree, in any of the following circumstances: I. The New Hampshire DAO has procured or maintained its registration through fraud. I…

In the event of a hard fork in the underlying permissionless blockchain: I. By default, the New Hampshire DAO retains its legal personality and limited liability, and the legal representative remains the legal representative of the majority chain, and any off-chain assets shall b…

I. In the event that there is not a contentious fork and a New Hampshire DAO's smart contract is restructured through modification, upgrade or migration, it shall retain its legal personality and limited liability only to the extent that: (a) The new code of the New Hampshire DAO…

In the case of a failure event: I. Legal personality and limited liability shall be maintained to the extent necessary to protect New Hampshire DAO participants, administrators, and legal representatives from personal liability. II. A failure event may trigger liability on the pe…

The New Hampshire DAO shall be governed by: I. The bylaws; II. The provisions of this chapter; and III. The provisions of RSA 304-C shall apply to New Hampshire DAOs except to the extent that any such provision is inconsistent with any provision of this chapter.

For avoidance of any doubt, 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.

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 'inte…

All provisions of this act may be altered from time to time or repealed, and all rights of New Hampshire DAOs, participants, administrators, and legal representatives are subject to this reservation.

The secretary of state shall issue a request for proposals for the development and administration of the New Hampshire DAO registry as described in RSA 301-B:14. The request for proposals shall have such terms as the secretary of state shall deem necessary and appropriate to carr…

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.

I. "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 …

The laws of the state of New Hampshire govern: I. The internal affairs of a New Hampshire DAO; and II. The liability of a participant as a participant and of an administrator as administrator for the debts, obligations, or other liabilities of a New Hampshire DAO.

I. A New Hampshire DAO shall exist as a separate legal entity distinct from its developers, participants, administrators, and legal representatives and shall at no time be deemed a partnership under RSA 304-A:6. II. Except to the extent otherwise provided in the bylaws of the New…

I. A New Hampshire DAO may sue and be sued, and service of process upon its New Hampshire registered agent or other authorized legal representative shall be sufficient. In furtherance of the foregoing, a New Hampshire DAO may be sued for debts and other obligations or liabilities…

I. Each New Hampshire DAO shall have and maintain in the state of New Hampshire: (a) A registered office; and (b) A registered agent, which agent may be: (1) An individual who resides in this state and who's residential or business office is identical with the registered office; …