New Hampshire § 301-B-18 - Section 301-B:18 Administrators.

§ 301-B-18. Section 301-B:18 Administrators.

I. A New Hampshire DAO is not required to appoint administrators, including a board of directors or a trustee. A New Hampshire DAO may specify in its bylaws rules for appointing and removing administrators and establishing the powers, rights, privileges, immunities, duties, and liabilities of administrators. In the absence of such provisions, all the powers and tasks of administrators shall be vested in the participants in accordance with the bylaws. An administrator may or may not be a participant. II. The voting mechanism for nominating and appointing an administrator shall be set out in the bylaws. III. The appointment and authority of an administrator shall be evidenced by an authorization displayed on a public forum the validity of which shall be verifiable by a valid record on the blockchain of the New Hampshire DAO. IV. To the extent that an administrator exercises a power in accordance with the bylaws or the terms of the administrator's appointment, the administrator's action is binding upon all other persons. V. Unless the bylaws provide otherwise, an administrator may resign without liability upon 15 days' written notice to the participants of the New Hampshire DAO.