Vermont § 602 Patron and investor member’s interests

Vermont Statutes

§ 602 — Patron and investor member’s interests

Vermont·Title 11C Title 11C: Mutual Benefit Enterprises·Ch. 6 Article 006: Member's Interest in Mutual Benefit Enterprise

(a)Unless the organic rules establish investor members’ interests, a member’s interest is a patron member’s interest.

(b)Unless the organic rules otherwise provide, if a mutual benefit enterprise has investor members, while a person is a member of the enterprise, the person:

(1)if admitted as a patron member, remains a patron member;

(2)if admitted as an investor member, remains an investor member; and

(3)if admitted as a patron member and an investor member remains a patron and an investor member if not dissociated in one of the capacities. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)

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(a) Unless the organic rules establish investor members’ interests, a member’s interest is a patron member’s interest.
(b) Unless the organic rules otherwise provide, if a mutual benefit enterprise has investor members, while a person is a member of the enterprise, the person:
(1) if admitted as a patron member, remains a patron member;
(2) if admitted as an investor member, remains an investor member; and
(3) if admitted as a patron member and an investor member remains a patron and an investor member if not dissociated in one of the capacities. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)

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