Vermont § 1002 Contribution and valuation

Vermont Statutes

§ 1002 — Contribution and valuation

Vermont § 1002

Title 11CTitle 11C: Mutual Benefit Enterprises

Ch. 10Article 010: Contributions, Allocations, and Distributions

This text of Vermont § 1002 (Contribution and valuation) 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, § 1002 (2026).

Text

(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 obl

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(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.)