Current through the 2024 Legislative
Section 301-B:15 - [Effective 7/1/2025] Registry Listing RequirementsI. 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 of the application: (a) The DAO shall be deployed on a permissionless blockchain.(b) The DAO shall provide a unique public address by which any person can review and monitor the DAO's activities.(c) The software code establishing and maintaining the DAO shall be in open-source format in a public forum to allow anyone to review it.(d) The software code establishing and maintaining the DAO shall have undergone quality assurance testing.(e) There shall be at least one GUI by which any person can read the value of the key variables of the DAO's smart contracts and monitor all transactions originating from, or addressed to, any of the DAO's smart contracts.(f) The DAO shall have bylaws that satisfy the RSA 301-B:16 and may be publicly accessed using a GUI or public forum.(g) The DAO shall refer to or provide a communications mechanism accessible by the public that allows a layperson to contact the DAO, and all participants and administrators of the DAO shall be able to access the contents of this mechanism.(h) The DAO shall refer to or provide a dispute resolution mechanism to resolve any disputes among the DAO's participants and administrators.(i) The DAO shall refer to or provide a dispute resolution mechanism to resolve any disputes with third parties that, by their nature, are capable of being settled by alternative dispute resolution.(j) The DAO shall be a decentralized network at all times.(k) The DAO shall have a decentralized governance system at all times.II. A DAO, upon meeting the listing requirements in paragraph I, shall be a New Hampshire DAO that is eligible for the benefits and subject to the requirements of this chapter.III. A New Hampshire DAO shall publish at a public address sufficient information and data to permit any person, including the registry administrator or any other accreditation authority, to monitor and evaluate whether the New Hampshire DAO continues to satisfy the listing requirements of paragraph I.Added by 2024, 263:1, eff. 7/1/2025.