The Vermont Statutes Online
The Vermont Statutes Online does not include the actions of the 2024 session of the General Assembly. We expect them to be updated by November 1st.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 11C : Mututal Benefit Enterprises
Chapter 008 : Directors and Officers
(Cite as: 11C V.S.A. § 801)-
§ 801. Board of directors
(a) A mutual benefit enterprise shall have a board of directors of at least three individuals unless the enterprise has fewer than three members. If the enterprise has fewer than three members, the number of directors may not be fewer than the number of members.
(b) The affairs of a mutual benefit enterprise shall be managed by or under the direction of the board of directors. The board may adopt policies and procedures that do not conflict with the organic rules or this title.
(c) An individual is not an agent for a mutual benefit enterprise solely by being a director. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
