N.H. Rev. Stat. § 301-B:7 — NH Code / Title XXVII / Chapter 301-B / Section 7
301-B:7 Legal Existence of New Hampshire DAOs.
Status: in_force

I. A New Hampshire DAO shall exist as a separate legal entity distinct from its developers, participants, administrators, and legal representatives and shall at no time be deemed a partnership under RSA 304-A:6. II. Except to the extent otherwise provided in the bylaws of the New Hampshire DAO, the New Hampshire DAO shall have perpetual existence, and a New Hampshire DAO may not be terminated or revoked by a developer, participant, administrator, legal representative, or other person except in accordance with the terms of its bylaws. III. Except to the extent otherwise provided in the bylaws, the death, incapacity, dissolution, termination, or bankruptcy of a developer, participant, administrator or legal representative, shall not result in the termination or dissolution of a New Hampshire DAO. IV. In the event that a New Hampshire DAO does not have perpetual existence, a New Hampshire DAO is deregistered, and its affairs shall be wound up at the time or upon the happening of events specified in the bylaws. V. Upon dissolution of a New Hampshire DAO and until the filing of a deregistration instruction as provided in RSA 301-B:12, the persons who, under the bylaws of the New Hampshire DAO, are responsible for winding up the New Hampshire DAO's affairs may, in the name of and for and on behalf of the New Hampshire DAO, prosecute and defend suits, whether civil, criminal, or administrative, gradually settle and close the New Hampshire DAO business, dispose of and convey the New Hampshire DAO property, discharge or make reasonable provision for the New Hampshire DAO liabilities, and distribute to the participants any remaining assets of the New Hampshire DAO as may be required by the bylaws. VI. A New Hampshire DAO which has deregistered shall pay or make reasonable provision to pay all claims and obligations, including all contingent, conditional, or unmatured claims and obligations, known to the New Hampshire DAO and all claims and obligations which are known to the New Hampshire DAO but for which the identity of the claimant is unknown and claims and obligations that have not been made known to the New Hampshire DAO or that have not arisen but that, based on the facts known to the New Hampshire DAO, are likely to arise or to become known to the New Hampshire DAO within 10 years after the date of deregistration. If there are sufficient assets, such claims and obligations shall be paid in full and any such provision for payment shall be made in full. If there are insufficient assets, such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. Unless otherwise provided in the bylaws of a New Hampshire DAO, any remaining assets shall be distributed to the beneficial owners. Any person, including any trustee, who under the bylaws is responsible for winding up a New Hampshire DAO's affairs who has complied with this section shall not be personally liable to the claimants of the dissolved New Hampshire DAO by reason of such person's actions in winding up the New Hampshire DAO.