§ 17-32-102 — Definitions

(a) As used in this act:
(i) "Administrator" means a person authorized by the
members of a decentralized unincorporated nonprofit association
to fulfill administrative or operational tasks at the direction
of the membership;
(ii) "Charitable purpose" means any purpose of an
organization that has attained exemption under section 501(c)(3)
of the Internal Revenue Code or any successor section, or that
upon dissolution shall distribute its assets to a public benefit
corporation, the United States, a state or a person that is
recognized as exempt under section 501(c)(3) of the Internal
Revenue Code or any successor section;
(iii) "Decentralized unincorporated nonprofit
association" or "nonprofit association" means an unincorporated
nonprofit association that meets the following requirements:
(A) Consists of at least one hundred (100)
members joined by mutual consent under an agreement, that may be
in writing or inferred from conduct, for a common nonprofit
purpose except as permitted under W.S. 17-32-104;
(B) Has elected to be formed under this act; and
(C) Is not formed under any other law governing
the nonprofit association's organization or operation.
(iv) "Digital asset" means as defined in W.S. 34-29-
101(a)(i);
(v) "Distributed ledger technology" means a
distributed ledger protocol and supporting infrastructure,
including blockchain, that uses a distributed, shared and
replicated ledger, whether it be public or private, permissioned
or permissionless, and that may include the use of digital
assets as a medium of electronic exchange;
(vi) "Established practices" means the practices used
by a decentralized unincorporated nonprofit association without
material change during the most recent five (5) years of the
association's existence, or if the association has existed for
less than five (5) years, during the nonprofit association's
entire existence;
(vii) "Governing principles" means all agreements and
any amendment or restatement of those agreements, including any
decentralized unincorporated nonprofit association agreements,
consensus formation algorithms, smart contracts or enacted
governance proposals, that govern the purpose or operation of a
decentralized unincorporated nonprofit association and the
rights and obligations of the nonprofit association's members
and administrators, whether contained in a record, implied from
the nonprofit association's established practices or both;
(viii) "Member" means a person who, under the
governing principles of a decentralized unincorporated nonprofit
association, may participate in the selection of the nonprofit
association's administrators or the development of the policies
and activities of the nonprofit association;
(ix) "Membership interest" means a member's voting
right in a decentralized unincorporated nonprofit association
determined by the nonprofit association's governing principles,
including as ascertained from decentralized ledger technology on
which the nonprofit association relies to determine a member's
voting right;
(x) "Person" means an individual, corporation,
business trust, estate, trust, partnership, association, agency,
joint venture, government, governmental subdivision or
instrumentality or any other legal commercial entity;
(xi) "Record" means as defined in W.S. 40-21-
102(a)(xiii);
(xii) "Smart contract" means an automated
transaction, as defined in W.S. 40-21-102(a)(ii), or any
substantially similar analogue or code, script or programming
language relying on distributed ledger technology, including
blockchain, which may include facilitating and instructing
transfers of an asset, administrating membership interest votes
with respect to a decentralized unincorporated nonprofit
association or issuing executable instructions for these actions
based on the occurrence or nonoccurrence of specified
conditions;
(xiii) "State" means a state of the United States,
the District of Columbia, the commonwealth of Puerto Rico or any
territory or insular possession subject to the jurisdiction of
the United States;
(xiv) "This act" means W.S. 17-32-101 through 17-32-
128.