reglab/housing_qa huggingface dataset:
11 V.S.A. § 207
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 2 - Filing and Annual Reports|§ 207. Annual report for Secretary of State

§ 207. Annual report for Secretary of State|(a) A mutual benefit enterprise or foreign enterprise authorized to transact business in this State shall deliver to the Secretary of State for filing an annual report that states:  (1) the name of the enterprise or foreign enterprise; (2) the street address and, if different, mailing address of the enterprise's or foreign enterprise's designated office and the name of its agent for service of process at the designated office; (3) the street address and, if different, mailing address of the enterprise's or foreign enterprise's principal office; (4) the name and business address of any director or officer; and (5) in the case of a foreign enterprise, the state or other jurisdiction under whose law the foreign enterprise is formed and any alternative name adopted under section 1405 of this title.   (b) Information in an annual report shall be current as of the date the report is delivered to the Secretary of State.(c) A mutual benefit enterprise or foreign enterprise authorized to transact business in this State shall deliver its annual report to the Secretary for filing between January 1 and April 1 of each year, beginning in the year following the calendar year in which the mutual benefit enterprise is formed or the foreign enterprise is authorized to transact business in this State.(d) If an annual report does not contain the information required by subsection (a) of this section, the Secretary of State shall promptly notify the reporting mutual benefit enterprise or foreign enterprise and return the report for correction. If the report is corrected to contain the information required by subsection (a) of this section and delivered to the Secretary of State not later than 30 days after the date of the notice from the Secretary of State, it is timely delivered.(e) If a filed annual report contains an address of the designated office, the name or business address of a director or officer, or address of the principal office which differs from the information shown in the records of the Secretary of State immediately before the filing, the differing information in the annual report is considered a statement of change.(f) If a mutual benefit enterprise fails to deliver an annual report under this section, the Secretary of State may proceed under section 1211 of this title to dissolve the enterprise administratively.(g) If a foreign enterprise fails to deliver an annual report under this section, the Secretary of State may revoke the certificate of authority of the enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 208
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 2 - Filing and Annual Reports|§ 208. Filing fees

§ 208. Filing fees|The filing fees for records filed under this article by the Secretary of State are the same as those set forth for a limited liability company under 11 V.S.A. § 3013. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 301
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 3 - Formation and Initial Articles of Organization of Mutual Benefit Enterprise|§ 301. Organizers

§ 301. Organizers|A mutual benefit enterprise shall be organized by one or more organizers. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 302
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 3 - Formation and Initial Articles of Organization of Mutual Benefit Enterprise|§ 302. Formation of mutual benefit enterprise; articles of organization

§ 302. Formation of mutual benefit enterprise; articles of organization|(a) To form a mutual benefit enterprise, an organizer of the enterprise shall deliver articles of organization to the Secretary of State for filing. The articles shall state:  (1) the name of the enterprise; (2) the purposes for which the enterprise is formed; (3) the street address and, if different, mailing address of the enterprise's initial designated office and the name of the enterprise's initial agent for service of process at the designated office; (4) the street address and, if different, mailing address of the initial principal office; (5) the name and street address and, if different, mailing address of each organizer; and (6) the term for which the enterprise is to exist if other than perpetual.   (b) Subject to subsection 113(a) of this title, articles of organization may contain any other provisions in addition to those required by subsection (a) of this section.(c) A mutual benefit enterprise is formed after articles of organization that substantially comply with subsection (a) of this section are delivered to the Secretary of State, are filed, and become effective under subsection 203(c) of this title.(d) If articles of organization filed by the Secretary of State provide for a delayed effective date, a mutual benefit enterprise is not formed if, before the articles take effect, an organizer signs and delivers to the Secretary of State for filing a statement of cancellation. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 303
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 3 - Formation and Initial Articles of Organization of Mutual Benefit Enterprise|§ 303. Organization of mutual benefit enterprise

§ 303. Organization of mutual benefit enterprise|(a) After a mutual benefit enterprise is formed:  (1) if initial directors are named in the articles of organization, the initial directors shall hold an organizational meeting to adopt initial bylaws and carry on any other business necessary or proper to complete the organization of the enterprise; or (2) if initial directors are not named in the articles of organization, the organizers shall designate the initial directors and call a meeting of the initial directors to adopt initial bylaws and carry on any other business necessary or proper to complete the organization of the enterprise.   (b) Unless the articles of organization otherwise provide, the initial directors may cause the mutual benefit enterprise to accept members, including those necessary for the enterprise to begin business.(c) Initial directors need not be members.(d) An initial director serves until a successor is elected and qualified at a members' meeting or the director is removed, resigns, is adjudged incompetent, or dies. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 304
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 3 - Formation and Initial Articles of Organization of Mutual Benefit Enterprise|§ 304. Bylaws

§ 304. Bylaws|(a) Bylaws shall be in a record and, if not stated in the articles of organization, shall include:  (1) a statement of the capital structure of the mutual benefit enterprise, including:  (A) the classes or other types of members' interests and relative rights, preferences, and restrictions granted to or imposed upon each class or other type of member's interest; and (B) the rights to share in profits or distributions of the enterprise;  (2) a statement of the method for admission of members; (3) a statement designating voting and other governance rights, including which members have voting power and any restriction on voting power; (4) a statement that a member's interest is transferable if it is to be transferable and a statement of the conditions upon which it may be transferred; (5) a statement concerning the manner in which profits and losses are allocated and distributions are made among patron members and, if investor members are authorized, the manner in which profits and losses are allocated and how distributions are made among investor members and between patron members and investor members; (6) a statement concerning:  (A) whether persons who are not members but who conduct business with the enterprise may be permitted to share in allocations of profits and losses and receive distributions; and (B) the manner in which profits and losses are allocated and distributions are made with respect to those persons; and  (7) a statement of the number and terms of directors or the method by which the number and terms are determined.   (b) Subject to subsection 113(c) of this title and the articles of organization, bylaws may contain any other provision for managing and regulating the affairs of the enterprise.(c) In addition to amendments permitted under article 4 of this title, the initial board of directors may amend the bylaws by a majority vote of the directors at any time before the admission of members. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 401
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 4 - Amendment of Organic Rules of Mutual Benefit Enterprise|§ 401. Authority to amend organic rules

§ 401. Authority to amend organic rules|(a) A mutual benefit enterprise may amend its organic rules under this article for any lawful purpose. In addition, the initial board of directors may amend the bylaws of an enterprise under section 304 of this title.(b) Unless the organic rules otherwise provide, a member does not have a vested property right resulting from any provision in the organic rules, including a provision relating to the management, control, capital structure, distribution, entitlement, purpose, or duration of the mutual benefit enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 402
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 4 - Amendment of Organic Rules of Mutual Benefit Enterprise|§ 402. Notice and action on amendment of organic rules

§ 402. Notice and action on amendment of organic rules|(a) Except as provided in subsections 401(a) and 405(f) of this title, the organic rules of a mutual benefit enterprise may be amended only at a members' meeting. An amendment may be proposed by either:  (1) a majority of the board of directors or a greater percentage if required by the organic rules; or (2) one or more petitions signed by at least 10 percent of the patron members or at least 10 percent of the investor members.   (b) The board of directors shall call a members' meeting to consider an amendment proposed pursuant to subsection (a) of this section. The meeting shall be held not later than 90 days following the proposal of the amendment by the board or receipt of a petition. The board shall mail or otherwise transmit or deliver in a record to each member:  (1) the proposed amendment or a summary of the proposed amendment and a statement of the manner in which a copy of the amendment in a record may be reasonably obtained by a member; (2) a recommendation that the members approve the amendment or, if the board determines that because of conflict of interest or other special circumstances it should not make a favorable recommendation, the basis for that determination; (3) a statement of any condition of the board's submission of the amendment to the members; and (4) notice of the meeting at which the proposed amendment will be considered, which shall be given in the same manner as notice for a special meeting of members. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 403
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 4 - Amendment of Organic Rules of Mutual Benefit Enterprise|§ 403. Method of voting on amendment of organic rules

§ 403. Method of voting on amendment of organic rules|(a) A substantive change to a proposed amendment of the organic rules may not be made at the members' meeting at which a vote on the amendment occurs.(b) A nonsubstantive change to a proposed amendment of the organic rules may be made at the members' meeting at which the vote on the amendment occurs and need not be separately voted upon by the board of directors.(c) A vote to adopt a nonsubstantive change to a proposed amendment to the organic rules shall be by the same percentage of votes as is required to pass a proposed amendment. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 404
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 4 - Amendment of Organic Rules of Mutual Benefit Enterprise|§ 404. Voting by district, class, or voting group

§ 404. Voting by district, class, or voting group|(a) This section applies if the organic rules provide for voting by district or class or if there is one or more identifiable voting groups that a proposed amendment to the organic rules would affect differently from other members with respect to matters identified in subdivisions 405(e)(1) through (5) of this title. Approval of the amendment requires the same percentage of votes of the members of that district, class, or voting group required in sections 405 and 514 of this title.(b) If a proposed amendment to the organic rules would affect members in two or more districts or classes entitled to vote separately under subsection (a) of this section in the same or a substantially similar way, the districts or classes affected shall vote as a single voting group unless the organic rules otherwise provide for separate voting. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 406
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 4 - Amendment of Organic Rules of Mutual Benefit Enterprise|§ 406. Restated articles of organization

§ 406. Restated articles of organization|A mutual benefit enterprise, by the affirmative vote of a majority of the board of directors taken at a meeting for which the purpose is stated in the notice of the meeting, may adopt restated articles of organization that contain the original articles as previously amended. Restated articles may contain amendments if the restated articles are adopted in the same manner and with the same vote as required for amendments to the articles under subsection 405(a) of this title. Upon filing, restated articles supersede the existing articles and all amendments. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 407
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 4 - Amendment of Organic Rules of Mutual Benefit Enterprise|§ 407. Amendment or restatement of articles of organization; filing

§ 407. Amendment or restatement of articles of organization; filing|(a) To amend its articles of organization, a mutual benefit enterprise shall deliver to the Secretary of State for filing an amendment of the articles or restated articles of organization or articles of conversion or merger pursuant to article 16 of this title which contain one or more amendments of the articles of organization stating:  (1) the name of the enterprise; (2) the date of filing of the enterprise's initial articles; and (3) the changes the amendment makes to the articles as most recently amended or restated.   (b) Before the beginning of the initial meeting of the board of directors, an organizer who knows that information in the filed articles of organization was inaccurate when the articles were filed or has become inaccurate due to changed circumstances shall promptly:  (1) cause the articles to be amended; or (2) if appropriate, deliver an amendment to the Secretary of State for filing pursuant to section 203 of this title.   (c) If restated articles of organization are adopted, the restated articles may be delivered to the Secretary of State for filing in the same manner as an amendment.(d) Upon filing, an amendment of the articles of organization or other record containing an amendment of the articles which has been properly adopted by the members is effective as provided in subsection 203(c) of this title. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 501
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 501. Members

§ 501. Members|To begin business, a mutual benefit enterprise shall have at least two patron members unless the sole member is a cooperative. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 502
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 502. Becoming a member

§ 502. Becoming a member|A person becomes a member:  (1) as provided in the organic rules; (2) as the result of a merger or conversion under article 16 of this title; or (3) with the consent of all the members. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 503
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 503. No power as member to bind enterprise

§ 503. No power as member to bind enterprise|A member solely by reason of being a member may not act for or bind the mutual benefit enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 504
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 504. No liability as member for enterprise's obligations

§ 504. No liability as member for enterprise's obligations|Unless the articles of organization otherwise provide, a debt, obligation, or other liability of a mutual benefit enterprise is solely that of the enterprise and is not the debt, obligation, or liability of a member solely by reason of being a member. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 506
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 506. Annual meeting of members

§ 506. Annual meeting of members|(a) Members shall meet annually at a time provided in the organic rules or set by the board of directors not inconsistent with the organic rules.(b) An annual members' meeting may be held inside or outside this State at the place stated in the organic rules or selected by the board of directors not inconsistent with the organic rules.(c) Unless the organic rules otherwise provide, members may attend or conduct an annual members' meeting through any means of communication if all members attending the meeting can communicate with each other during the meeting.(d) The board of directors shall report or cause to be reported at the enterprise's annual members' meeting the enterprise's business and financial condition as of the close of the most recent fiscal year.(e) Unless the organic rules otherwise provide, the board of directors shall designate the presiding officer of the enterprise's annual members' meeting.(f) Failure to hold an annual members' meeting does not affect the validity of any action by the mutual benefit enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 507
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 507. Special meeting of members

§ 507. Special meeting of members|(a) A special meeting of members may be called only:  (1) as provided in the organic rules; (2) by a majority vote of the board of directors on a proposal stating the purpose of the meeting; (3) by demand in a record signed by members holding at least 20 percent of the voting power of the persons in any district or class entitled to vote on the matter that is the purpose of the meeting stated in the demand; or (4) by demand in a record signed by members holding at least 10 percent of the total voting power of all the persons entitled to vote on the matter that is the purpose of the meeting stated in the demand.   (b) A demand under subdivision (a)(3) or (4) of this section shall be submitted to the officer of the mutual benefit enterprise charged with keeping its records.(c) Any voting member may withdraw its demand under subdivision (a)(3) or (4) of this section before receipt by the mutual benefit enterprise of demands sufficient to require a special meeting of members.(d) A special meeting of members may be held inside or outside this State at the place stated in the organic rules or selected by the board of directors not inconsistent with the organic rules.(e) Unless the organic rules otherwise provide, members may attend or conduct a special meeting of members through the use of any means of communication if all members attending the meeting can communicate with each other during the meeting.(f) Only business within the purpose or purposes stated in the notice of a special meeting of members may be conducted at the meeting.(g) Unless the organic rules otherwise provide, the presiding officer of a special meeting of members shall be designated by the board of directors. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 508
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 508. Notice of members' meeting

§ 508. Notice of members' meeting|(a) A mutual benefit enterprise shall notify each member of the time, date, and place of a members' meeting at least 15 and not more than 60 days before the meeting.(b) Unless the articles of organization otherwise provide, notice of an annual members' meeting need not include any purpose of the meeting.(c) Notice of a special meeting of members shall include each purpose of the meeting as contained in the demand under subdivision 507(a)(3) or (4) of this title or as voted upon by the board of directors under subdivision 507(a)(2) of this title.(d) Notice of a members' meeting shall be given in a record unless oral notice is reasonable under the circumstances. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 509
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 509. Waiver of member's meeting notice

§ 509. Waiver of member's meeting notice|(a) A member may waive notice of a members' meeting before, during, or after the meeting.(b) A member's participation in a members' meeting is a waiver of notice of that meeting unless the member objects to the meeting at the beginning of the meeting or promptly upon the member's arrival at the meeting and does not thereafter vote for or assent to action taken at the meeting. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 510
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 510. Quorum of members

§ 510. Quorum of members|Unless the organic rules otherwise require a greater number of members or percentage of the voting power, the voting member or members present at a members' meeting constitute a quorum. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 511
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 511. Voting by patron members

§ 511. Voting by patron members|Except as provided by subsection 512(a) of this title, each patron member has one vote. The organic rules may allocate voting power among patron members as provided in subsection 512(a) of this title. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 512
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 512. Determination of voting power of patron member

§ 512. Determination of voting power of patron member|(a) The organic rules may allocate voting power among patron members on the basis of one or a combination of the following:  (1) one member, one vote; (2) use or patronage; (3) equity; or (4) if a patron member is a cooperative, the number of its patron members.   (b) The organic rules may provide for the allocation of patron member voting power by districts or class or any combination thereof. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
11 V.S.A. § 513
2021 Vermont Statutes|Title 11C - Mutual Benefit Enterprises|Chapter 5 - Members|§ 513. Voting by investor members

§ 513. Voting by investor members|If the organic rules provide for investor members, each investor member has one vote unless the organic rules otherwise provide. The organic rules may provide for the allocation of investor member voting power by class, classes, or any combination of classes. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)