The Vermont Statutes Online
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
NOTE: The online version of the Vermont Statutes does NOT yet include the actions of the 2023 legislative session. The 2023 updates should be available by the end of October.
Title 11C : Mututal Benefit Enterprises
Chapter 006 : MEMBER'S INTEREST IN MUTUAL BENEFIT ENTERPRISE
(Cite as: 11C V.S.A. § 602)-
§ 602. Patron and investor member’s interests
(a) Unless the organic rules establish investor members’ interests, a member’s interest is a patron member’s interest.
(b) Unless the organic rules otherwise provide, if a mutual benefit enterprise has investor members, while a person is a member of the enterprise, the person:
(1) if admitted as a patron member, remains a patron member;
(2) if admitted as an investor member, remains an investor member; and
(3) if admitted as a patron member and an investor member remains a patron and an investor member if not dissociated in one of the capacities. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
