Vermont § 1102 Effect of dissociation as member

Vermont Statutes

§ 1102 — Effect of dissociation as member

Vermont § 1102

Title 11CTitle 11C: Mutual Benefit Enterprises

Ch. 11Article 011: Dissociation

This text of Vermont § 1102 (Effect of dissociation as member) 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, § 1102 (2026).

Text

(a)Upon a member’s dissociation:

(1)subject to section 1103 of this title, the person has no further rights as a member; and

(2)subject to section 1103 of this title and article 16 of this title, any financial rights owned by the person in the person’s capacity as a member immediately before dissociation are owned by the person as a transferee.

(b)A person’s dissociation as a member does not of itself discharge the person from any debt, obligation, or liability to the mutual benefit enterprise that the person incurred under the organic rules, by contract, or by other means while a member. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)

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(a) Upon a member’s dissociation:
(1) subject to section 1103 of this title, the person has no further rights as a member; and
(2) subject to section 1103 of this title and article 16 of this title, any financial rights owned by the person in the person’s capacity as a member immediately before dissociation are owned by the person as a transferee.
(b) A person’s dissociation as a member does not of itself discharge the person from any debt, obligation, or liability to the mutual benefit enterprise that the person incurred under the organic rules, by contract, or by other means while a member. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)