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WV HB5060
Bill
Status
Engrossed
3/4/2026
Primary Sponsor
Tristan Leavitt
Click for details
AI Summary
- Creates the Decentralized Unincorporated Nonprofit Association Act, establishing a new legal entity type requiring at least 100 members joined for a common nonprofit purpose
- Provides that members and administrators are not personally liable for the association's contracts, torts, or judgments solely by reason of their membership or administrative role
- Permits governance through distributed ledger technology, smart contracts, and blockchain-based voting and consensus mechanisms
- Allows associations to hold real and personal property, engage in profit-making activities (with profits used for nonprofit purposes), and participate in legal proceedings in the association's name
- Establishes that membership interests are freely transferable unless governing principles specify otherwise, and members owe no fiduciary duty to the association or other members unless otherwise provided
Legislative Description
Relating to Decentralized Unincorporated Nonprofit Associations
Last Action
To Judiciary
3/5/2026
Committee Referrals
Judiciary3/5/2026
Judiciary2/20/2026
Homeland Security2/19/2026
Judiciary2/3/2026
Full Bill Text
No bill text available