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. § 506)
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§ 506. Annual meeting of members
(a) Members shall meet annually at a time provided in the organic rules or set by the
board of directors not inconsistent with the organic rules.
(b) An annual members’ meeting may be held inside or outside this State at the place stated
in the organic rules or selected by the board of directors not inconsistent with the
organic rules.
(c) Unless the organic rules otherwise provide, members may attend or conduct an annual
members’ meeting through any means of communication if all members attending the meeting
can communicate with each other during the meeting.
(d) The board of directors shall report or cause to be reported at the enterprise’s annual
members’ meeting the enterprise’s business and financial condition as of the close
of the most recent fiscal year.
(e) Unless the organic rules otherwise provide, the board of directors shall designate
the presiding officer of the enterprise’s annual members’ meeting.
(f) Failure to hold an annual members’ meeting does not affect the validity of any action
by the mutual benefit enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)