SB 782 VA

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Introduced

Corporations; limited liability decentralized autonomous organizations (LLDs). Creates the Limited Liability Decentralized Autonomous Organization (LLD) Act, which establishes requirements for an LLD, defined as a distinct legal entity that operates through decentralized governance using blockchain technology and smart contracts that execute decentralized decision-making mechanisms. The bill permits the formation of an LLD by filing articles of formation with the State Corporation Commission (the Commission), and, if certain requirements are met, the Commission may issue a certificate of formation. The bill includes requirements for amending an LLD's articles of formation and also includes requirements for LLD bylaws, operating agreements, underlying smart contracts, and participant interests and management of the LLD. Under the bill, an LLD and its participants have limited liability for debts, obligations, and liabilities of the LLD. The bill also includes provisions related to recordkeeping, transferring interests, withdrawal of participants, and dissolution of the LLD. The bill directs the Commission to adopt emergency regulations to implement certain provisions of the bill. Except for the emergency rulemaking, the provisions of the bill have a delayed effective date of January 1, 2027.

• Saddam Azlan Salim Democratic · primary

1. Jan 22, 2026 Presented and ordered printed 26102324D · upper
2. Jan 22, 2026 Referred to Committee on Commerce and Labor · upper
3. Feb 1, 2026 Fiscal Impact Statement from State Corporation Commission (SB782) · upper
4. Feb 2, 2026 Senate committee amendments offered · upper
5. Feb 2, 2026 Continued to next session in Commerce and Labor (15-Y 0-N) · upper

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Commerce and Labor Amendment · HTML
• Introduced · PDF
• Introduced · HTML