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17. DAO RESTRUCTURING

  • In the event that there is not a Contentious Fork and a DAO's Smart Contract is restructured through modification, upgrade or migration, it will retain its legal personality and limited liability only to the extent that:

    • The new code of the DAO continues to fulfill all the formation requirements of Article 4;

    • In the event of migration, where the DAO has to be associated with a new unique Public Address, proper notice is provided by way of Public Signaling.

    Failure to meet these requirements will result in a loss of legal personality and limited liability effective at the time of restructuring.

  • The DAO restructured in accordance with subsection (1) will be the universal successor of the original DAO and inherit its rights and obligations.