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. § 1501)
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§ 1501. Disposition of assets not requiring member approval
Unless the articles of organization otherwise provide, member approval under section 1502 of this title is not required for a mutual benefit enterprise to:
(1) sell, lease, exchange, license, or otherwise dispose of all or any part of the assets
of the enterprise in the usual and regular course of business; or
(2) mortgage, pledge, dedicate to the repayment of indebtedness, or encumber in any way
all or any part of the assets of the enterprise whether or not in the usual and regular
course of business. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)