reglab/housing_qa huggingface dataset:
11 V.S.A. § 514
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 514. Voting requirements for members

§ 514. Voting requirements for members|If a mutual benefit enterprise has both patron and investor members, the following rules apply:  (1) The total voting power of all patron members may not be less than a majority of the entire voting power entitled to vote. (2) Action on any matter is approved only upon the affirmative vote of at least a majority of:  (A) all members voting at the meeting unless more than a majority is required by articles 4, 12, 15, and 16 of this title or the organic rules; and (B) votes cast by patron members unless the organic rules require a larger affirmative vote by patron members.  (3) The organic rules may provide for the percentage of the affirmative votes that shall be cast by investor members to approve the matter. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 515
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 515. Manner of voting

§ 515. Manner of voting|(a) Unless the organic rules otherwise provide, voting by a proxy at a members' meeting is prohibited. This subsection does not prohibit delegate voting based on district or class.(b) If voting by a proxy is permitted, a patron member may appoint only another patron member as a proxy and, if investor members are permitted, an investor member may appoint only another investor member as a proxy.(c) The organic rules may provide for the manner of and provisions governing the appointment of a proxy.(d) The organic rules may provide for voting on any question by ballot delivered by mail or voting by other means on questions that are subject to vote by members. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 516
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 516. Action without a meeting

§ 516. Action without a meeting|(a) Unless the organic rules require that action be taken only at a members' meeting, any action that may be taken by the members may be taken without a meeting if each member entitled to vote on the action consents in a record to the action.(b) Consent under subsection (a) of this section may be withdrawn by a member in a record at any time before the mutual benefit enterprise receives a consent from each member entitled to vote.(c) Consent to any action may specify the effective date or time of the action. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 517
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 517. Districts and delegates; classes of members

§ 517. Districts and delegates; classes of members|(a) The organic rules may provide for the formation of geographic districts of patron members and:  (1) for the conduct of patron member meetings by district and the election of directors at the meetings; or (2) that districts may elect district delegates to represent and vote for the districts at members' meetings.   (b) A delegate elected under subdivision (a)(2) of this section has one vote unless voting power is otherwise allocated by the organic rules.(c) The organic rules may provide for the establishment of classes of members, for the preferences, rights, and limitations of the classes, and:  (1) for the conduct of members' meetings by classes and the election of directors at the meetings; or (2) that classes may elect class delegates to represent and vote for the classes in members' meetings.   (d) A delegate elected under subdivision (c)(2) of this section has one vote unless voting power is otherwise allocated by the organic rules. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 601
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 6 - Member's Interest in Mutual Benefit Enterprise|§ 601. Member's interest

§ 601. Member's interest|A member's interest:  (1) is personal property; (2) consists of:  (A) governance rights; (B) financial rights; and (C) the right or obligation, if any, to do business with the mutual benefit enterprise; and  (3) may be in certificated or uncertificated form. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 602
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 6 - Member's Interest in Mutual Benefit Enterprise|§ 602. Patron and investor member's interests

§ 602. Patron and investor member's interests|(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.)
11 V.S.A. § 603
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 6 - Member's Interest in Mutual Benefit Enterprise|§ 603. Transferability of member's interest

§ 603. Transferability of member's interest|(a) The provisions relating to the transferability of a member's interest are subject to Title 9A.(b) Unless the organic rules otherwise provide, a member's interest other than financial rights is not transferable.(c) Unless a transfer is restricted or prohibited by the organic rules, a member may transfer its financial rights in the mutual benefit enterprise.(d) The terms of any restriction on transferability of financial rights shall be:  (1) set forth in the organic rules and the member records of the enterprise; and (2) conspicuously noted on any certificates evidencing a member's interest.   (e) A transferee of a member's financial rights, to the extent the rights are transferred, has the right to share in the allocation of profits or losses and to receive the distributions to the member transferring the interest to the same extent as the transferring member.(f) A transferee of a member's financial rights does not become a member upon transfer of the rights unless the transferee is admitted as a member by the mutual benefit enterprise.(g) A mutual benefit enterprise need not give effect to a transfer under this section until the enterprise has notice of the transfer.(h) A transfer of a member's financial rights in violation of a restriction on transfer contained in the organic rules is ineffective as to a person having notice of the restriction at the time of transfer. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 604
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 6 - Member's Interest in Mutual Benefit Enterprise|§ 604. Security interest and set-off

§ 604. Security interest and set-off|(a) A member or transferee may create an enforceable security interest in its financial rights in a mutual benefit enterprise.(b) Unless the organic rules otherwise provide, a member may not create an enforceable security interest in the member's governance rights in a mutual benefit enterprise.(c) The organic rules may provide that a mutual benefit enterprise has a security interest in the financial rights of a member to secure payment of any indebtedness or other obligation of the member to the enterprise. A security interest provided for in the organic rules is enforceable under and governed by 9A V.S.A. article 9.(d) Unless the organic rules otherwise provide, a member may not compel the mutual benefit enterprise to offset financial rights against any indebtedness or obligation owed to the enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 605
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 6 - Member's Interest in Mutual Benefit Enterprise|§ 605. Charging orders for judgment creditor of member or transferee

§ 605. Charging orders for judgment creditor of member or transferee|(a) On application by a judgment creditor of a member or transferee, a court may enter a charging order against the financial rights of the judgment debtor for the unsatisfied amount of the judgment. A charging order issued under this subsection constitutes a lien on the judgment debtor's financial rights and requires the mutual benefit enterprise to pay over to the creditor or receiver to the extent necessary to satisfy the judgment any distribution that would otherwise be paid to the judgment debtor.(b) To the extent necessary to effectuate the collection of distributions pursuant to a charging order under subsection (a) of this section, the court may:  (1) appoint a receiver of the share of the distributions due or to become due to the judgment debtor under the judgment debtor's financial rights, with the power to make all inquiries the judgment debtor might have made; and (2) make all other orders that the circumstances of the case may require to give effect to the charging order.   (c) Upon a showing that distributions under a charging order will not pay the judgment debt within a reasonable time, the court may foreclose the lien and order the sale of the financial rights. The purchaser at the foreclosure sale obtains only the financial rights that are subject to the charging order, does not thereby become a member, and is subject to section 603 of this title.(d) At any time before a sale pursuant to a foreclosure, a member or transferee whose financial rights are subject to a charging order under subsection (a) of this section may extinguish the charging order by satisfying the judgment and filing a certified copy of the satisfaction with the court that issued the charging order.(e) At any time before sale pursuant to a foreclosure, the mutual benefit enterprise or one or more members whose financial rights are not subject to the charging order may pay to the judgment creditor the full amount due under the judgment and succeed to the rights of the judgment creditor, including the charging order. Unless the organic rules otherwise provide, the enterprise may act under this subsection only with the consent of all members whose financial rights are not subject to the charging order.(f) This title does not deprive any member or transferee of the benefit of any exemption of laws applicable to the member's or transferee's financial rights.(g) This section provides the exclusive remedy by which a judgment creditor of a member or transferee may satisfy the judgment from the member's or transferee's financial rights. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 701
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 7 - Marketing Contracts|§ 701. Authority

§ 701. Authority|In this article, "marketing contract" means a contract between a mutual benefit enterprise and another person who need not be a patron member:  (1) requiring the other person to sell or to deliver for sale or marketing on the person's behalf a specified part of the person's products, commodities, or goods exclusively to or through the enterprise or any facilities furnished by the enterprise; or (2) authorizing the enterprise to act for the person in any manner with respect to the products, commodities, or goods. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 702
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 7 - Marketing Contracts|§ 702. Marketing contracts

§ 702. Marketing contracts|(a) If a marketing contract provides for the sale of products, commodities, or goods to a mutual benefit enterprise, the sale transfers title to the enterprise upon delivery or at any other specific time expressly provided by the contract.(b) A marketing contract may:  (1) authorize a mutual benefit enterprise to create an enforceable security interest in the products, commodities, or goods delivered; and (2) allow the enterprise to sell the products, commodities, or goods delivered and pay the sales price on a pooled or other basis after deducting selling costs, processing costs, overhead, expenses, and other charges.   (c) Some or all of the provisions of a marketing contract between a patron member and a mutual benefit enterprise may be contained in the organic rules. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 703
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 7 - Marketing Contracts|§ 703. Duration of marketing contract

§ 703. Duration of marketing contract|The initial duration of a marketing contract may not exceed 10 years, but the contract may be self-renewing for additional periods not exceeding five years each. Unless the contract provides for another manner or time for termination, either party may terminate the contract by giving notice in a record at least 90 days before the end of the current term. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 704
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 7 - Marketing Contracts|§ 704. Remedies for breach of contract

§ 704. Remedies for breach of contract|(a) Damages to be paid to a mutual benefit enterprise for breach or anticipatory repudiation of a marketing contract may be liquidated, but only at an amount or under a formula that is reasonable in light of the actual or anticipated harm caused by the breach or repudiation. A provision that so provides is not a penalty.(b) Upon a breach of a marketing contract, whether by anticipatory repudiation or otherwise, a mutual benefit enterprise may seek:  (1) an injunction to prevent further breach; and (2) specific performance.   (c) The remedies in this section are in addition to any other remedies available to an enterprise under law other than this title. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 801
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 8 - Directors and Officers|§ 801. Board of directors

§ 801. Board of directors|(a) A mutual benefit enterprise shall have a board of directors of at least three individuals unless the enterprise has fewer than three members. If the enterprise has fewer than three members, the number of directors may not be fewer than the number of members.(b) The affairs of a mutual benefit enterprise shall be managed by or under the direction of the board of directors. The board may adopt policies and procedures that do not conflict with the organic rules or this title.(c) An individual is not an agent for a mutual benefit enterprise solely by being a director. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 802
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 8 - Directors and Officers|§ 802. No liability as director for mutual benefit enterprise's obligations

§ 802. No liability as director for mutual benefit enterprise's obligations|A debt, obligation, or other liability of a mutual benefit enterprise is solely that of the enterprise and is not a debt, obligation, or liability of a director solely by reason of being a director. An individual is not personally liable, directly or indirectly, for an obligation of an enterprise solely by reason of being a director. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 803
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 8 - Directors and Officers|§ 803. Qualifications of directors

§ 803. Qualifications of directors|(a) Unless the organic rules otherwise provide, and subject to subsection (c) of this section, each director of a mutual benefit enterprise shall be an individual who is a member of the enterprise or an individual who is designated by a member that is not an individual for purposes of qualifying and serving as a director. Initial directors need not be members.(b) Unless the organic rules otherwise provide, a director may be an officer or employee of the mutual benefit enterprise.(c) If the organic rules provide for nonmember directors, the number of nonmember directors may not exceed:  (1) one if there are two through four directors; (2) two if there are five through eight directors; or (3) one-third of the total number of directors if there are at least nine directors.   (d) The organic rules may provide qualifications for directors in addition to those in this section. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 804
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 8 - Directors and Officers|§ 804. Election of directors and composition of board

§ 804. Election of directors and composition of board|(a) Unless the organic rules require a greater number:  (1) the number of directors that shall be patron members may not be fewer than:  (A) one if there are two or three directors; (B) two if there are four or five directors; (C) three if there are six through eight directors; or (D) one-third of the directors if there are at least nine directors; and  (2) a majority of the board of directors shall be elected exclusively by patron members.   (b) Unless the organic rules otherwise provide, if a mutual benefit enterprise has investor members, the directors who are not elected exclusively by patron members are elected by the investor members.(c) Subject to subsection (a) of this section, the organic rules may provide for the election of all or a specified number of directors by one or more districts or classes of members.(d) Subject to subsection (a) of this section, the organic rules may provide for the nomination or election of directors by districts or classes, directly or by district delegates.(e) If a class of members consists of a single member, the organic rules may provide for the member to appoint a director or directors.(f) Unless the organic rules otherwise provide, cumulative voting for directors is prohibited.(g) Except as otherwise provided by the organic rules, subsection (e) of this section, or sections 303, 516, 517, and 809 of this title, member directors shall be elected at an annual members' meeting. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 805
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 8 - Directors and Officers|§ 805. Term of director

§ 805. Term of director|(a) Unless the organic rules otherwise provide and subject to subsections (c) and (d) of this section and subsection 303(c) of this title, the term of a director expires at the annual members' meeting following the director's election or appointment. The term of a director may not exceed three years.(b) Unless the organic rules otherwise provide, a director may be reelected.(c) Except as otherwise provided in subsection (d) of this section, a director continues to serve until a successor director is elected or appointed and qualifies or the director is removed, resigns, is adjudged incompetent, or dies.(d) Unless the organic rules otherwise provide, a director does not serve the remainder of the director's term if the director ceases to qualify to be a director. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 806
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 8 - Directors and Officers|§ 806. Resignation of director

§ 806. Resignation of director|A director may resign at any time by giving notice in a record to the mutual benefit enterprise. Unless the notice states a later effective date, a resignation is effective when the notice is received by the enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 807
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 8 - Directors and Officers|§ 807. Removal of director

§ 807. Removal of director|Unless the organic rules otherwise provide, the following rules apply:  (1) Members may remove a director with or without cause. (2) A member or members holding at least 10 percent of the total voting power entitled to be voted in the election of a director may demand removal of the director by one or more signed petitions submitted to the officer of the mutual benefit enterprise charged with keeping its records. (3) Upon receipt of a petition for removal of a director, an officer of the enterprise or the board of directors shall:  (A) call a special meeting of members to be held not later than 90 days after receipt of the petition by the enterprise; and (B) mail or otherwise transmit or deliver in a record to the members entitled to vote on the removal and to the director to be removed notice of the meeting which complies with section 508 of this title.  (4) A director is removed if the votes in favor of removal are equal to or greater than the votes required to elect the director at the time of the vote. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 808
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 8 - Directors and Officers|§ 808. Suspension of director by board

§ 808. Suspension of director by board|(a) A board of directors may suspend a director if, considering the director's course of conduct and the inadequacy of other available remedies, immediate suspension is necessary for the best interests of the enterprise and if the director is engaging or has engaged in:  (1) fraudulent conduct with respect to the enterprise or its members; (2) gross abuse of the position of director; (3) intentional or reckless infliction of harm on the enterprise; or (4) any other behavior, act, or omission as provided by the organic rules.   (b)(1) A suspension under subsection (a) of this section is effective for 30 days unless the board of directors calls a special meeting of members for removal of the director before the end of the 30-day period, in which case the suspension is effective until adjournment of the meeting or the director is removed.  (2) Upon call of a special meeting of members for removal of the director, an officer of the enterprise or the board of directors shall mail or otherwise transmit or deliver in a record to the members entitled to vote on the removal and to the director to be removed notice of the meeting that complies with section 508 of this title. (3) A director is removed if the votes in favor of removal are equal to or greater than the votes required to elect the director at the time of the vote. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 809
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 8 - Directors and Officers|§ 809. Vacancy on board

§ 809. Vacancy on board|(a) Unless the organic rules otherwise provide, a vacancy on the board of directors shall be filled:  (1) notwithstanding subdivision 804(a)(2) and subsection 804(b) of this title, within a reasonable time by majority vote of the remaining directors until the next annual members' meeting or a special meeting of members called to fill the vacancy; and (2) for the unexpired term by members at the next annual members' meeting or a special meeting of members called to fill the vacancy.   (b) Unless the organic rules otherwise provide, if a vacating director was elected or appointed by a class of members or a district:  (1) the new director shall be of that class or district; and (2) the selection of the director for the unexpired term shall be conducted in the same manner as would the selection for that position without a vacancy.   (c) If a member appointed a vacating director, the organic rules may provide for that member to appoint a director to fill the vacancy. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 810
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 8 - Directors and Officers|§ 810. Remuneration of directors

§ 810. Remuneration of directors|Unless the organic rules otherwise provide, the board of directors may set the remuneration of directors and of nondirector committee members appointed under subsection 817(a) of this title. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)