Vermont § 1005 Distributions

Vermont Statutes

§ 1005 — Distributions

Vermont·Title 11C Title 11C: Mutual Benefit Enterprises·Ch. 10 Article 010: Contributions, Allocations, and Distributions

(a)Unless the organic rules otherwise provide and subject to section 1007 of this title, the board of directors may authorize, and the mutual benefit enterprise may make, distributions to members.

(b)Unless the organic rules otherwise provide, distributions to members may be made in any form, including money, capital credits, allocated patronage equities, revolving fund certificates, and the mutual benefit enterprise’s own or other securities. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)

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(a) Unless the organic rules otherwise provide and subject to section 1007 of this title, the board of directors may authorize, and the mutual benefit enterprise may make, distributions to members.
(b) Unless the organic rules otherwise provide, distributions to members may be made in any form, including money, capital credits, allocated patronage equities, revolving fund certificates, and the mutual benefit enterprise’s own or other securities. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)

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