Virginia House Bill 1796

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 6 2025 - 25% progression
Action: 2025-01-06 - Referred to Committee on Communications, Technology and Innovation
Pending: House Communications, Technology and Innovation Committee
Text: Latest bill text (Introduced) [HTML]

Corporations; decentralized autonomous organizations. Creates a regulatory framework for decentralized autonomous organizations, which are a form of limited liability company, and provides that an entity seeking to become a decentralized autonomous organization must file its articles of organization with the State Corporation Commission in order to seek a certificate of organization. The bill permits a limited liability company to elect to become a decentralized autonomous organization with management vested in its members or smart contracts and contains requirements for its articles of incorporation and operating agreements. The bill also contains provisions governing the relationships and rights of members of a decentralized autonomous organization and for the dissolution of a decentralized autonomous organization. The bill has a delayed effective date of January 1, 2026.

Corporations; creates a regulatory framework for decentralized autonomous organizations.

Del. Dan Helmer [D]

Sen. Saddam Salim [D]

Date	Chamber	Action
2025-01-06	House	Referred to Committee on Communications, Technology and Innovation
2025-01-06	House	Prefiled and ordered printed; Offered 01-08-2025 25102358D

Type	Source
Summary	https://lis.virginia.gov/bill-details/20251/HB1796
Text	https://lis.virginia.gov/bill-details/20251/HB1796/text/HB1796