Vermont § 104 Nature of mutual benefit enterprise

Vermont Statutes

§ 104 — Nature of mutual benefit enterprise

Vermont § 104

Title 11CTitle 11C: Mutual Benefit Enterprises

Ch. 1Article 001: General Provisions

This text of Vermont § 104 (Nature of mutual benefit enterprise) is published on Counsel Stack Legal Research, covering Vermont primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Vt. Stat. Ann. tit. 11C, § 104 (2026).

Text

(a)A mutual benefit enterprise organized under this title is an autonomous, unincorporated association of persons united to meet their mutual interests through a jointly owned enterprise primarily controlled by those persons, which permits combining:

(1)ownership, financing, and receipt of benefits by the members for whose interests the enterprise is formed; and

(2)separate investments in the enterprise by members who may receive returns on their investments and a share of control.

(b)The fact that a mutual benefit enterprise does not have one or more of the characteristics described in subsection (a) of this section does not alone prevent the enterprise from being formed under and governed by this title nor does it alone provide a basis for an action against the enterprise. (Added 201

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(a) A mutual benefit enterprise organized under this title is an autonomous, unincorporated association of persons united to meet their mutual interests through a jointly owned enterprise primarily controlled by those persons, which permits combining:
(1) ownership, financing, and receipt of benefits by the members for whose interests the enterprise is formed; and
(2) separate investments in the enterprise by members who may receive returns on their investments and a share of control.
(b) The fact that a mutual benefit enterprise does not have one or more of the characteristics described in subsection (a) of this section does not alone prevent the enterprise from being formed under and governed by this title nor does it alone provide a basis for an action against the enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)