Establishes rules for decentralized unincorporated nonprofit associations in Texas, including governance via distributed ledger technology.

This bill creates a framework for decentralized unincorporated nonprofit associations in Texas. It allows these associations to govern themselves through distributed ledger technology, including smart contracts. Members of these associations are not personally liable for the debts of the association unless they agree to be. The bill outlines procedures for winding up the association's business, including the appointment of administrators and the distribution of remaining property. It also specifies that members do not owe fiduciary duties to the association or other members.

Establishes rules for decentralized unincorporated nonprofit associations in Texas, including governance via distributed ledger technology.

This bill creates a framework for decentralized unincorporated nonprofit associations in Texas. It allows these associations to govern themselves through distributed ledger technology, including smart contracts. Members of these associations are not personally liable for the debts of the association unless they agree to be. The bill outlines procedures for winding up the association's business, including the appointment of administrators and the distribution of remaining property. It also specifies that members do not owe fiduciary duties to the association or other members.