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. § 1002)
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§ 1002. Contribution and valuation
(a) Unless the organic rules otherwise provide, the contributions of a member to a mutual
benefit enterprise may consist of tangible or intangible property or other benefit
to the enterprise, including money, labor, or other services performed or to be performed,
promissory notes, other agreements to contribute money or property, and contracts
to be performed.
(b) The receipt and acceptance of contributions and the valuation of contributions shall
be reflected in a mutual benefit enterprise’s records.
(c) Unless the organic rules otherwise provide, the board of directors shall determine
the value of a member’s contributions received or to be received, and the determination
by the board of directors of valuation is conclusive for purposes of determining whether
the member’s contribution obligation has been met. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)