The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
003
:
CORPORATORS AND MEMBERS
(Cite as: 8 V.S.A. § 13303)
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§ 13303. Powers and duties of corporators and members
(a) Corporators or members shall hold regular annual meetings, at a time fixed in the
internal governance documents of the institution, for the purpose of electing directors
of the institution and for the transaction of any other business that may properly
be brought before such meeting.
(b) Special meetings of the corporators or members may be called at any time by an executive
officer of the institution or in any other manner provided for in the internal governance
documents.
(c) Notice of the annual meeting or any special meeting shall be given by public advertisement
in a newspaper or newspapers of general circulation in the county or counties where
each office of the institution is located or in such other newspapers as the Commissioner
may designate, provided that corporators shall also be sent notice by mail at their
last known address. The notice shall be published on at least two different days and
in such manner as to be reasonably conspicuous. The last publication of notice shall
be at least seven days prior to such annual or special meeting. Notice of any special
meeting shall state the purpose for which such meeting is called.
(d) The internal governance documents shall prescribe the number of corporators or members
that constitute a quorum at any annual or special meeting. The internal governance
documents may also provide for voting by proxy.
(e) Meetings of the corporators or members shall be held at the institution’s principal
office, or at such other place in the area of this State served by the institution
as the notice shall designate. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)