📄️ 5. LIMITED LIABILITY
* Except as set forth in Articles 5(3) and Article 5(4), Members will only be responsible for providing the On-Chain Contributions that they have committed to the DAO, as required by the By-Laws. If the DAO exhausts its Assets, the Members will not be liable for excess liability.
📄️ 6. ASSET SUBSCRIPTION AND PAYMENT
* No minimum capital requirements will apply to a DAO recognised by the Model Law. If the DAO wishes to maintain a minimum amount of capital, the By-Laws of the DAO will specify the rules for subscription and payment.
📄️ 7. CLASSES OF PERSONS PARTICIPATING IN THE DAO
* A DAO may have multiple classes of participation rights defined in, and granted in accordance with, its By-Laws.
📄️ 8. VOTING RIGHTS
The voting rights of Members will be distributed in the following manner:
📄️ 9. PROXIES
With respect to proxies:
📄️ 10. MINORITY PROTECTION―
In the interest of minority Members of DAOs:
📄️ Commentary-10
The protection of minority rights, such as those of minority
📄️ Commentary-5
Limited liability of shareholders, while being a defining and important
📄️ Commentary-6
The subscription of minimum capital, with a large amount paid up front
📄️ Commentary-7
Participation rights in DAOs may take the form of tokenized governance
📄️ Commentary-8
Unlike modern corporations, DAOs do not need default voting rights
📄️ Commentary-9
In contrast to the rule in some jurisdictions that equity holders, such