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 11 : Corporations, Partnerships and Associations
Chapter 008 : Worker Cooperative Corporations
(Cite as: 11 V.S.A. § 1087)-
§ 1087. Voting shares; bylaws; amendment of articles of organization
(a) No capital stock other than membership shares shall be given voting power in a worker cooperative except as otherwise provided in this chapter or in the articles of incorporation.
(b) Notwithstanding 11A V.S.A. § 10.20, the power to adopt, amend, or repeal bylaws of a worker cooperative shall be in the members only.
(c) 11A V.S.A. chapter 10, subchapter 1 relating to amendments to the articles of incorporation shall be construed to limit voting on any amendment of the articles of incorporation of a worker cooperative to the members, except that amendments affecting the rights of a class of stockholders may not be adopted without the vote of such stockholders in accordance with 11A V.S.A. § 10.04. (Added 1985, No. 46, § 1; amended 2023, No. 85 (Adj. Sess.), § 20, eff. July 1, 2024.)
