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.
(Cite as: 11C V.S.A. § 302)
-
§ 302. Formation of mutual benefit enterprise; articles of organization
(a) To form a mutual benefit enterprise, an organizer of the enterprise shall deliver
articles of organization to the Secretary of State for filing. The articles shall
state:
(1) the name of the enterprise;
(2) the purposes for which the enterprise is formed;
(3) the street address and, if different, mailing address of the enterprise’s initial
designated office and the name of the enterprise’s initial agent for service of process
at the designated office;
(4) the street address and, if different, mailing address of the initial principal office;
(5) the name and street address and, if different, mailing address of each organizer;
and
(6) the term for which the enterprise is to exist if other than perpetual.
(b) Subject to subsection 113(a) of this title, articles of organization may contain any other provisions in addition to those required
by subsection (a) of this section.
(c) A mutual benefit enterprise is formed after articles of organization that substantially
comply with subsection (a) of this section are delivered to the Secretary of State,
are filed, and become effective under subsection 203(c) of this title.
(d) If articles of organization filed by the Secretary of State provide for a delayed
effective date, a mutual benefit enterprise is not formed if, before the articles
take effect, an organizer signs and delivers to the Secretary of State for filing
a statement of cancellation. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)