Vermont § 1089 Directors; officers

Vermont Statutes

§ 1089 — Directors; officers

Vermont·Title 11 Title 11: Corporations, Partnerships and Associations·Ch. 8 Chapter 008: Worker Cooperative Corporations

(a)The bylaws of a worker cooperative shall provide for the election, terms, classifications, if any, and removal of directors and officers in accordance with the provisions of this chapter or the provisions of 11A V.S.A. chapter 8.

(b)Nonmembers may serve as directors or officers of a worker cooperative but at no time shall there be a majority of nonmember directors.

(c)Vacancies in director positions resulting from death, resignation, or removal shall be filled by vote of the member directors or by vote of the members. (Added 1985, No. 46, § 1; amended 2023, No. 85 (Adj. Sess.), § 22, eff. July 1, 2024.)

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(a) The bylaws of a worker cooperative shall provide for the election, terms, classifications, if any, and removal of directors and officers in accordance with the provisions of this chapter or the provisions of 11A V.S.A. chapter 8.
(b) Nonmembers may serve as directors or officers of a worker cooperative but at no time shall there be a majority of nonmember directors.
(c) Vacancies in director positions resulting from death, resignation, or removal shall be filled by vote of the member directors or by vote of the members. (Added 1985, No. 46, § 1; amended 2023, No. 85 (Adj. Sess.), § 22, eff. July 1, 2024.)

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