The Vermont Statutes Online
The Statutes below include the actions of the 2024 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.
Title 8 : Banking and Insurance
Chapter 221 : Organization and Management of Credit Union
Subchapter 004 : MEMBERSHIP
(Cite as: 8 V.S.A. § 31406)-
§ 31406. Meetings of members
(a) The annual meeting and any special meetings of the members of the credit union shall be held in accordance with the bylaws.
(b) On all questions and elections brought to the membership for a vote, each member shall have one vote, regardless of the member’s shareholdings. No member may vote by proxy, but a member may vote by early voter absentee ballot, mail ballot, or other method if the bylaws of the credit union so provide.
(c) The bylaws may establish a minimum age, not greater than the age of majority as defined in 1 V.S.A. § 173, as a qualification of eligibility to vote at meetings of the members. A minor, as defined in 1 V.S.A. § 173, may not be a voting member of the governing body, the supervisory committee, or any other appointed or elected committee.
(d) An organization having membership in the credit union may be represented and have its vote cast by an officer of the organization or its designated agent so authorized by the organization’s governing body as evidenced by a certified copy of such authorization provided to the credit union before the vote is cast. (Added 2005, No. 16, § 1, eff. July 1, 2005.)
