(a) A decentralized unincorporated nonprofit association may provide for its governance, in whole or in part, through distributed ledger technology including, but not limited to, smart contracts. (b) The governing principles for a decentralized unincorporated nonprofit association may include, but not be limited to, the following provisions: (1) Specify whether any distributed ledger technology used or enabled by the decentralized unincorporated nonprofit association will be fully immutable or subject to change by the decentralized unincorporated nonprofit association and whether any distributed ledger will be fully or partially public or private, including the extent of a member’s access to information. (2) Adopt voting procedures, which may include smart contracts deployed to distributed ledger technology and which may provide for all of the following: a. Proposals from members or administrators in the decentralized unincorporated nonprofit association for upgrades, modifications, or additions to software systems or protocols. b. Other proposed changes to the decentralized unincorporated nonprofit association’s governing principles. c. Any other matters of governance or activities within the purpose of the decentralized unincorporated nonprofit association.
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