Vermont § 1202 Nonjudicial dissolution

Vermont Statutes

§ 1202 — Nonjudicial dissolution

Vermont § 1202

Title 11CTitle 11C: Mutual Benefit Enterprises

Ch. 12Article 012: Dissolution

This text of Vermont § 1202 (Nonjudicial dissolution) 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, § 1202 (2026).

Text

Except as otherwise provided in sections 1203 and 1211 of this title, a mutual benefit enterprise is dissolved and its activities shall be wound up:

(1)upon the occurrence of an event or at a time specified in the articles of organization;

(2)upon the action of the enterprise’s organizers, board of directors, or members under section 1204 or 1205 of this title; or

(3)90 days after the dissociation of a member, which results in the enterprise having one patron member and no other members, unless the enterprise:

(A)has a sole member that is a cooperative; or

(B)not later than the end of the 90-day period, admits at least one member in accordance with the organic rules and has at least two members, at least one of which is a patron member. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. Apri

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Except as otherwise provided in sections 1203 and 1211 of this title, a mutual benefit enterprise is dissolved and its activities shall be wound up:
(1) upon the occurrence of an event or at a time specified in the articles of organization;
(2) upon the action of the enterprise’s organizers, board of directors, or members under section 1204 or 1205 of this title; or
(3) 90 days after the dissociation of a member, which results in the enterprise having one patron member and no other members, unless the enterprise:
(A) has a sole member that is a cooperative; or
(B) not later than the end of the 90-day period, admits at least one member in accordance with the organic rules and has at least two members, at least one of which is a patron member. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)