Vermont § 3027 Dissolution—Cooperative not commencing business

Vermont Statutes

§ 3027 — Dissolution—Cooperative not commencing business

Vermont·Title 30 Title 30: Public Service·Ch. 81 Chapter 081: Utility Cooperatives

A cooperative that has not commenced business may be dissolved by delivering to the Secretary of State a certificate of dissolution, which shall be executed and acknowledged on behalf of the cooperative by a majority of the incorporators and that shall state:

(1)the name of the cooperative;

(2)the address of its principal office;

(3)that the cooperative has not commenced business;

(4)that any sums received by the cooperative, less any part thereof disbursed for expenses of the cooperative, have been returned or paid to those entitled to them;

(5)that no debt of the cooperative is unpaid; and

(6)that a majority of the incorporators elect that the cooperative be dissolved. (Amended 2023, No. 85 (Adj. Sess.), § 423, eff. July 1, 2024.)

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A cooperative that has not commenced business may be dissolved by delivering to the Secretary of State a certificate of dissolution, which shall be executed and acknowledged on behalf of the cooperative by a majority of the incorporators and that shall state:
(1) the name of the cooperative;
(2) the address of its principal office;
(3) that the cooperative has not commenced business;
(4) that any sums received by the cooperative, less any part thereof disbursed for expenses of the cooperative, have been returned or paid to those entitled to them;
(5) that no debt of the cooperative is unpaid; and
(6) that a majority of the incorporators elect that the cooperative be dissolved. (Amended 2023, No. 85 (Adj. Sess.), § 423, eff. July 1, 2024.)

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