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2. LEGAL PERSONALITY

  • A DAO within the scope of this Model Law will be deemed a legal entity separate and distinct from its Members. A DAO will, by its own name, be capable of:

    • suing and being sued;
    • acquiring, owning, holding and developing or disposing of property, both movable and immovable; and
    • doing and suffering such acts and things as bodies corporate may lawfully do and suffer.

  • A DAO within the scope of this Model Law must meet its liabilities through its On-Chain and Off-Chain Assets.

  • The validity of an action by a DAO within the scope of this Model Law may not be challenged on the ground that the DAO lacks power to act.