§ 17-31-104 — Definition and election of decentralized autonomous organization status

(a) A decentralized autonomous organization is a limited
liability company whose articles of organization contain a
statement that the company is a decentralized autonomous
organization as described in subsection (c) of this section.
(b) A limited liability company formed under the Wyoming
Limited Liability Company Act, W.S. 17-29-101 through 17-29-
1102, may convert to a decentralized autonomous organization by
amending its articles of organization to include the statement
required by subsections (a) and (c) of this section and W.S. 17-
31-106.
(c) A statement in substantially the following form shall
appear conspicuously in the articles of organization or
operating agreement, if applicable, in a decentralized
autonomous organization:
NOTICE OF RESTRICTIONS ON DUTIES AND TRANSFERS
The rights of members in a decentralized autonomous organization
may differ materially from the rights of members in other
limited liability companies. The Wyoming Decentralized
Autonomous Organization Supplement, underlying smart contracts,
articles of organization and operating agreement, if applicable,
of a decentralized autonomous organization may define, reduce or
eliminate fiduciary duties and may restrict transfer of
ownership interests, withdrawal or resignation from the
decentralized autonomous organization, return of capital
contributions and dissolution of the decentralized autonomous
organization.
(d) The registered name for a decentralized autonomous
organization shall include wording or abbreviation to denote its
status as a decentralized autonomous organization, specifically
"DAO", "LAO", or "DAO LLC."
(e) A statement in the articles of organization shall
establish how the decentralized autonomous organization shall be
managed by the members, including to what extent the management
will be conducted algorithmically.