Unincorporated nonprofit DAO's.

Wyoming's SF 50 creates a legal framework for "decentralized unincorporated nonprofit associations" (DAOs) operating without traditional corporate structure. The bill defines these organizations as requiring at least 100 members with a common nonprofit purpose, governed by "governing principles" (including smart contracts on distributed ledgers), and prohibits profit distributions to members except for reasonable compensation. It requires assets to be distributed to charitable causes upon dissolution and specifies that Wyoming law governs such associations formed in the state. This directly affects DAOs seeking formal recognition for nonprofit activities while operating through decentralized digital governance.