Can a DAO be required to hold annual meetings or elections?
To date, there are no laws or regulations regarding the legal status of DAOs; therefore, no specific rules on periodical meetings or elections are applicable other than those decided by the founders/members of a DAO and set forth within the applicable smart contract. Moreover, it is and it will be a matter of debate and discussion whether a DAO can be
incorporated in one or more of the legal entities types provided by the Italian Civil Code (e.g., companies, partnerships, associations).
As of today, there are no grounds to affirm that a DAO can be incorporated in one of the Italian legal entities recognized by law without a new regulation that, if issued, might also include the obligation to hold annual meetings (e.g., annual financial statements approval) as provided for the legal entities types provided by the Italian law.