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
002
:
THE COOPERATIVE MARKETING ACT; COOPERATIVE ASSOCIATIONS
(Cite as: 11 V.S.A. § 1028)
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§ 1028. Application to existing corporations
By a majority vote of its directors, and the vote in meeting assembled of the holders
of two-thirds of the outstanding stock, or, if the stock is divided into classes,
by the vote of the holders of two-thirds of each class of outstanding stock, a corporation
or association, organized under previously existing statutes, may be brought under
the provisions of this subchapter by limiting its membership and adopting the other
restrictions as provided herein. It shall make out in duplicate a statement signed
and sworn to by a majority of its directors to the effect that the corporation or
association, by a majority vote of the directors, and the vote in meeting assembled
of the holders of two-thirds of the outstanding stock, or, if the stock is divided
into classes, by the vote of the holders of two-thirds of each class of outstanding
stock, has decided to accept the benefits and be bound by the provisions of this subchapter
and has authorized all changes accordingly. Articles of incorporation shall be filed
as required in section 995 of this title, except that they shall be signed by the members of the then board of directors.
The filing fee shall be the same as for filing an amendment to the certificate of
organization.