Bill > SF0022

This bill amends Wyoming's laws regarding decentralized unincorporated nonprofit associations (DNPAs), making several technical and substantive changes to clarify and update the existing legal framework. The bill modifies definitions, refines language around organizational structures, and addresses various operational aspects of DNPAs, such as membership, governance, dissolution, and conversion processes. Key changes include adding a definition for "distributed ledger protocol," clarifying that members are not automatically liable for the association's actions, and specifying how assets should be distributed when winding up a DNPA, which now includes following federal law requirements. The bill also streamlines provisions related to membership interests, administrator selection, and record inspection rights, and ensures that DNPAs have clear guidelines for mergers, conversions, and organizational changes. Importantly, the bill provides more flexibility for these organizations by allowing them to specify their own governance principles while maintaining legal protections for members and administrators. The amendments aim to create a more robust and adaptable legal environment for decentralized nonprofit associations, particularly those utilizing blockchain or distributed ledger technologies. The bill will become effective on July 1, 2026.

Business and Industry

Blockchain, Financial Technology and Digital Innovation Technology (Other)

https://www.wyoleg.gov/Legislation/2026/SF0022