Unincorporated nonprofit associations; decentralized associations provided for

Summary

The bill allows groups of at least 100 members to form a "decentralized unincorporated nonprofit association" that can run its governance on blockchain and smart contracts. These associations may own property and earn profits, but any profit must be used for their nonprofit purpose and cannot be distributed to members except in limited circumstances. It also spells out the duties, liabilities, and dissolution process for members and administrators.

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