Texas 89th Legislature, Regular Session Status: Introduced

HB 4518 — Relating to the formation of decentralized unincorporated nonprofit associations and the use of distributed ledger or blockchain technology for certain business purposes; authorizing fees.

Last action — Left pending in committee

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  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 89th Legislature, Regular Session. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Relating to the formation of decentralized unincorporated nonprofit associations and the use of distributed ledger or blockchain technology for certain business purposes; authorizing fees.

Bill Text

We don't have the full text on file for this bill yet.

Read HB 4518 on the official Texas source →

How this bill changes current law

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This bill amends the Texas statutes.

  • CHAPTER 253. DECENTRALIZED UNINCORPORATED NONPROFIT ASSOCIATIONS Sec. 253.001. DEFINITIONS. In this chapter: (1) "Administrator" means a member authorized by vote of the membership to fulfill administrative or operational tasks. (2) "Decentralized unincorporated nonprofit association" means an unincorporated association: (A) consisting of at least 100 members joined by mutual consent under an agreement, that may be in writing or inferred from conduct, for a common nonprofit purpose; (B) that has elected to be formed under this chapter; and (C) that is not formed under any other law governing the association's organization and operation. (3) "Distributed ledger technology" means a software protocol that: (A) governs the rules, operations, and communication between intersection and connection points in a telecommunications network and supporting infrastructure; (B) includes the computer software or hardware or collections of computer software or hardware that use or enable a distributed ledger, including blockchain; and (C) uses a distributed, shared, and replicated ledger, which may: (i) be public or private; (ii) be permissioned or permissionless; and (iii) include the use of a digital asset as a medium of electronic exchange. (4) "Established practices" means the practices used by a decentralized unincorporated nonprofit association without material change during: (A) the most recent five years of the association's existence; or (B) the association's entire existence, if the association has existed for less than five years. (5) "Governing principles" means all agreements and any amendment or restatement of those agreements, including any association agreements, consensus formation algorithms, or enacted governance proposals, that govern the purpose or operation of a decentralized unincorporated nonprofit association and the rights and obligations of the association's members and administrators, whether contained in a record, implied from the association's established practices, or both. (6) "Member" means a person that, under the governing principles of a decentralized unincorporated nonprofit association, may participate in: (A) the development of the policies and activities of the association; and (B) the selection of the association's administrators. (7) "Membership interest" means a member's voting right in a decentralized unincorporated nonprofit association as determined by the association's governing principles. (8) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form, including information inscribed on blockchain or distributed ledger technology. (9) "Smart contract" means a computational process that executes on distributed ledger technology used to automate a transaction, including a transaction that: (A) takes custody over and instructs transfer of assets on that ledger; (B) creates and transmits digital assets; (C) synchronizes information; or (D) authenticates user rights and conveys access to software applications. Sec. 253.0015. APPLICABILITY OF CODE TO ASSOCIATIONS. Except as provided by Sections 253.024(e) and 253.025, the only provisions of this code that apply to or govern a decentralized unincorporated nonprofit association are: (1) this chapter; (2) Chapters 1, 2, 4, and 10; and (3) if a decentralized unincorporated nonprofit association designates an agent for service of process, Subchapter E, Chapter 5. Sec. 253.002. SUPPLEMENTARY GENERAL PRINCIPLES OF LAW AND EQUITY. (a) Principles of law and equity supplement this chapter unless displaced by a particular provision of this chapter. (b) This chapter may not be interpreted to repeal or modify a statute or rule for an entity that does not elect to be formed as a decentralized unincorporated nonprofit association. Sec. 253.003. GOVERNING LAW; TERRITORIAL APPLICATION. (a) The law of this state governs any decentralized unincorporated nonprofit associatio

    amended

Action History

  1. Left pending in committee

  2. Testimony taken in committee

  3. Considered in public hearing

  4. Scheduled for public hearing on . . .

  5. Referred to Business & Commerce

  6. Read first time

  7. Received from the House

  8. Reported engrossed

  9. Statement(s) of vote recorded in Journal

  10. Record vote

  11. Passed

  12. Read 3rd time

  13. Statement(s) of vote recorded in Journal

  14. Record vote

  15. Passed to engrossment

  16. Read 2nd time

  17. Placed on General State Calendar

  18. Considered in Calendars

  19. Committee report sent to Calendars

  20. Committee report distributed

  21. Comte report filed with Committee Coordinator

  22. Reported favorably w/o amendment(s)

  23. Considered in public hearing

  24. Left pending in committee

  25. Testimony taken/registration(s) recorded in committee

  26. Considered in public hearing

  27. Scheduled for public hearing on . . .

  28. Referred to Trade, Workforce & Economic Development

  29. Read first time

  30. Filed

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 183 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (183)

183 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 4518 do?
Relating to the formation of decentralized unincorporated nonprofit associations and the use of distributed ledger or blockchain technology for certain business purposes; authorizing fees.
Who sponsors HB 4518?
HB 4518 is sponsored by David Cook.
What is the current status of HB 4518?
This bill died with 89th Legislature, Regular Session. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 4518?
Track HB 4518 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 4 months ago · updated continuously

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