reglab/housing_qa huggingface dataset:
11 V.S.A. § 981
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 981. Use of "cooperative."

§ 981. Use of "cooperative."|A corporation formed under chapters 1 and 17 of this title shall not have the word "cooperative" or any abbreviation thereof as part of its name, unless the corporation is a worker cooperative corporation organized under chapter 8 of this title, a cooperative housing corporation organized under chapter 14 of this title, or the articles of association contain all of the following provisions:  (1) Each shareholder shall have only one vote in all matters pertaining to the management of the corporation. (2) The interest or dividend on the paid up capital stock of the corporation shall not exceed six percent per annum. (3) There shall be set aside annually not less than ten percent of the net profits of the corporation for a reserve fund until there is accumulated a fund of not less than 50 percent of the paid up capital stock. (4) The remainder of the earnings, or any part thereof, shall be distributed by a uniform dividend upon the amount of purchases or sales through the corporation by the shareholders, or the amount of raw material furnished to, or business done through, the corporation by the shareholders; and such profits or earnings shall be distributed as often as once in 12 months. (5) Not more than ten percent of the capital stock of such corporation shall be owned by any one member. (6) Certificates of stock in cooperative corporations shall contain a statement on the face thereof that the holder is entitled to only one vote thereon. (Amended 1985, No. 46, § 3; 1987, No. 254 (Adj. Sess.), § 3, eff. June 16, 1988.)
11 V.S.A. § 991
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 991. Definitions

§ 991. Definitions|In this subchapter, unless the context or subject matter otherwise requires:  (1) "Agricultural products" includes horticultural, viticultural, forestry, dairy, livestock, poultry, bee, and any farm products. (2) "Association" means any corporation organized under this chapter. (3) "Associations" organized hereunder means nonprofit associations. (4) "Consumers' cooperative" means a corporation organized under this chapter for the acquisition and distribution for the benefit of ultimate consumers of property, goods, commodities, or services. (5) "Handcraft product" means any product fashioned primarily by hand with the final form and its characteristics shaped by hand and produced in the home or a small craft center by the artisan or craftsman in a skilled or artistic process rather than in an assembly line technique. (6) "Marketing cooperative" means a corporation organized under this chapter for the marketing of agricultural or handcraft products. (7) "Member" includes actual members of associations without capital stock and holders of common stock in associations organized with capital stock. (8) "Person" includes individuals, firms, partnerships, corporations and associations. (9) "Railroad cooperative" means any corporation organized under this chapter for the organization, acquisition, and operation of a general transportation business by railroad, including truck, bus, air, and water transportation subsidiaries of the railroad. (Amended 1973, No. 90, § 1.)
11 V.S.A. § 992
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 992. Use of "cooperative"

§ 992. Use of "cooperative"|The use of the word "cooperative" as a part of the name of any person is hereby limited to such persons as are legally organized and chartered under the provisions of this chapter or chapter 8 or 14 of this title. (Amended 1985, No. 46, § 4; 1987, No. 254 (Adj. Sess.), § 4, eff. June 16, 1988; 2011, No. 84 (Adj. Sess.), § 2, eff. April 20, 2012.)
11 V.S.A. § 993
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 993. Subscribers

§ 993. Subscribers|Five or more persons, a majority of whom are residents of this State, may form a nonprofit, cooperative association, with or without capital stock, under the provisions of this subchapter.
11 V.S.A. § 996
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 996. Amendment of certificate

§ 996. Amendment of certificate|The certificate of organization may be altered or amended except as otherwise provided in this subchapter at any regular meeting or any special meeting called for that purpose. An amendment must first be approved by two-thirds of the directors and adopted by a vote of two-thirds of the members or delegates present and voting at such meeting. Amendments to the certificate of organization, when so adopted, shall be filed in accordance with the provisions of section 995 of this title.
11 V.S.A. § 997
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 997. Fee

§ 997. Fee|For filing a certificate of organization, an association shall pay $20.00 to the Secretary of State, and for filing an amendment thereto, $10.00. (Amended 1963, No. 37, § 4; 1967, No. 278 (Adj. Sess.), § 7.)
11 V.S.A. § 998
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 998. Members

§ 998. Members|Under the terms and conditions prescribed in its bylaws, a marketing cooperative may admit as members, or issue common stock to, only cooperative marketing associations legally formed under the laws of this State, or persons engaged in the production of the agricultural or handcraft products to be handled by or through the association, including the lessees and tenants of land used therefor, and any lessors and landlords who receive any part of the agricultural or handcraft products produced on the leased premises or of the sale price of such product as rent. Under the terms and conditions prescribed in its bylaws, a consumers' cooperative may admit as members any natural persons, associations, incorporated or unincorporated groups organized on a cooperative basis, or any nonprofit groups. Under the terms and conditions prescribed in its bylaws, a railroad cooperative may admit as members, or issue stock to, any nonprofit organizations, any persons, corporations, or associations who are patrons of its services. (Amended 1973, No. 90, § 3.)
11 V.S.A. § 999
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 999. Proxies

§ 999. Proxies|If a member of a nonstock association be other than a natural person, such member may be represented by any individual, associate, officers, manager, or member thereof duly authorized in writing.
11 V.S.A. § 1000
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1000. Adoption of bylaws

§ 1000. Adoption of bylaws|(a) Within 30 days after its organization, each association shall adopt for its government and management a code of bylaws, not inconsistent with the powers granted hereby. Except as provided in subsection (b) of this section, a majority vote of the members shall be necessary to adopt, alter, amend, or repeal such bylaws.(b) In the case of any association having district election of delegates and delegate system of voting as permitted by subdivision 995(10) of this title, in which, under its articles of association or bylaws, such delegates have complete voting power on behalf of the membership for every purpose except that of their own election and the election of district directors, following reasonable notice to the members or stockholders in accordance with the bylaws, a majority of the delegates attending and voting at any meeting of the delegates of the association may adopt, alter, amend, or repeal such bylaws. (Amended 1971, No. 87, § 1, eff. April 16, 1971.)
11 V.S.A. § 1002
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1002. Meetings

§ 1002. Meetings|Each association shall by its bylaws provide for one or more regular meetings annually.
11 V.S.A. § 1003
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1003. Special meetings

§ 1003. Special meetings|The board of directors shall have the right to call a special meeting of the members or stockholders of the association at any time. They shall call one upon the petition of not less than ten percent of the members or stockholders, stating the specific business to be brought before the association.
11 V.S.A. § 1004
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1004. Notice of meetings

§ 1004. Notice of meetings|Notice of each meeting, together with a statement of the purposes thereof, shall be mailed or telegraphed to each member at least ten days prior to the meeting.
11 V.S.A. § 1005
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1005. Place of meetings

§ 1005. Place of meetings|Meetings of the members or stockholders of the association, regular or special, shall be held at such place within or outside this State as may be determined from time to time by the board of directors. (Added 1971, No. 87, § 2, eff. April 16, 1971.)
11 V.S.A. § 1006
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1006. Directors

§ 1006. Directors|The business of the association shall be managed by a board of not less than five directors, elected by the members or stockholders from their own number.
11 V.S.A. § 1007
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1007. Classification of directors

§ 1007. Classification of directors|The bylaws may provide that the territory in which the association has members shall be divided into districts and that the directors shall be elected according to such districts by the members in that district. In such case, the bylaws shall specify the number of directors to be elected by each district, and the manner and method of reapportioning the directors and of redistricting the territory covered by the association.
11 V.S.A. § 1008
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1008. Primary elections for directors

§ 1008. Primary elections for directors|The bylaws may provide that primary elections shall be held in each district, to elect the directors apportioned to such districts, and that the result of all such primary elections may be ratified by the next regular meeting of the association or may be deemed the act of the association.
11 V.S.A. § 1009
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1009. Appointment of directors by public officials

§ 1009. Appointment of directors by public officials|The bylaws may provide that one or more directors may be appointed by any public official or commission or by the other directors selected by the members or their delegates. Such directors shall represent primarily the interest of the general public in such associations and need not be members or stockholders of the association, but shall have the same powers and rights as other directors. Such directors shall not number more than one-fifth of the entire board.
11 V.S.A. § 1010
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1010. Vacancies on board of directors

§ 1010. Vacancies on board of directors|When a vacancy on the board of directors occurs other than by expiration of term, the remaining members of the board shall fill the vacancy by a majority vote, unless the bylaws provide for an election of directors by districts. In such a case, the board of directors shall immediately call a special meeting of the members, or stockholders, to fill the vacancy in the district where it exists.
11 V.S.A. § 1011
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1011. Contracts with directors

§ 1011. Contracts with directors|During the term of his or her office, a director shall not be a party to a contract for profit with the association differing in any way from the business relations accorded each member or holder of common stock of the association or others, or upon terms differing from those generally current in that district.
11 V.S.A. § 1012
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1012. Executive committee

§ 1012. Executive committee|The bylaws may provide for an executive committee and may allot to such committee all the functions and powers of the board of directors, subject to the general direction and control of that board.
11 V.S.A. § 1013
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1013. Officers

§ 1013. Officers|The directors shall elect from their number a president and one or more vice presidents. They shall also elect a secretary, who shall be the clerk of the corporation, and a treasurer, who need not be directors or members of the association. The directors may combine the two latter offices and designate the combined office as that of secretary-treasurer, or unite both functions and titles in one person. The treasurer may be a bank or any depository, and as such, shall not be considered as an officer, but as a function of the board of directors, and in such case, the secretary shall perform the usual accounting duties of the treasurer, except that the funds shall be deposited only as and where authorized by the board of directors.
11 V.S.A. § 1014
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1014. Salaries

§ 1014. Salaries|An association may provide a fair compensation for the time actually spent by its officers and directors in its service and for the service of the members of its executive committee. The bylaws may provide that a director or officer shall not occupy any position in the association on regular salary or substantially full time pay.
11 V.S.A. § 1015
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1015. Issue of stock

§ 1015. Issue of stock|An association shall not issue stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, but such retention as security shall not affect the member's right to vote. Until such notes are paid in full, the corresponding stock, to the extent of unpaid balances, shall be carried on the books of the association and upon all financial statements made by the association as "capital stock issued for notes," and the notes shall be carried on such books and statements as "notes given for capital stock."
11 V.S.A. § 1016
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1016. Liability of members for debts

§ 1016. Liability of members for debts|A member shall not be liable for the debts of the association.
11 V.S.A. § 1017
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1017. Preferred stock

§ 1017. Preferred stock|An association organized with stock may issue preferred stock but such stock shall have no voting privileges. Such stock may be issued on such terms and with such preferences as the board of directors may determine and may be sold to any person, member or nonmember, and may be redeemable or retirable by the association on such terms and conditions as may be provided in the certificate of organization and printed on the face of the stock certificate.
11 V.S.A. § 1018
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1018. Marketing contracts- Terms

§ 1018. Marketing contracts- Terms|An association and its members may make and execute marketing contracts, requiring the members to sell, for any period of time, all or any specified part of their agricultural products or specified commodities exclusively to or through the association or any facilities to be created by the association. If they contract a sale to the association, it shall be conclusively held that title to the products passes to the association upon delivery except for legally recorded chattel mortgages given for value and prior to July 1 in any year on such products or commodities whether such mortgages are given before or after the making of such contract of sale. The contract may provide, among other things, that the association may sell or resell the products delivered by its members, with or without taking title thereto, and pay over to its members the resale price, after deducting all necessary selling, overhead and other costs and expenses, including interest or dividends on stock, not exceeding eight percent per annum, and reserves for retiring the stock, if any, and other proper reserves, and for any other reductions.
11 V.S.A. § 1019
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1019. Damages

§ 1019. Damages|The bylaws or the marketing contract may fix, as liquidated damages, a specific sum to be paid by a member or stockholder to the association upon the breach by him or her of any provision of the marketing contract regarding the sale or delivery or withholding of products; and may further provide that the member shall pay all costs, premiums for bonds, expenses, and fees, in case any action is brought upon the contract by the association. Any such provisions shall be valid and enforceable in the courts of this State. Such clauses providing for liquidated damages shall be enforceable as such and shall not be regarded as penalties.
11 V.S.A. § 1020
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1020. Enjoining breach

§ 1020. Enjoining breach|In case of any such breach or threatened breach of such marketing contract by a member, a Superior Court may restrain by injunction further breach of the contract and may decree specific performance thereof. Pending the termination of such an action and upon filing a verified complaint showing the breach or threatened breach, and upon filing a sufficient bond, such court may grant a temporary restraining order against the member. (1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974.)
11 V.S.A. § 1021
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1021. Liability of landowner, landlord or lessor

§ 1021. Liability of landowner, landlord or lessor|In any action upon such marketing agreement, it shall be conclusively presumed that a landowner, landlord, or lessor is able to control the delivery of products produced on his or her land by tenants or others, whose tenancy, possession, or work on such land, or the terms of whose tenancy, possession, or labor thereon, were created or changed after execution by the landowner, landlord, or lessor of such a marketing agreement. In such action, the foregoing remedies for nondelivery or breach shall lie and be enforceable against such landowner, landlord, or lessor.
11 V.S.A. § 1022
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1022. Payment in stock

§ 1022. Payment in stock|When an association with preferred capital stock shall purchase the stock or any property or interest, it may discharge the obligation so incurred, wholly or in part, by exchanging for the acquired interest shares of its preferred capital stock to an amount which at par value would equal the fair market value of the stock, property, or interest so purchased, as determined by the board of directors. In that case the transfer to the association of the stock or interest purchased shall be equivalent to payment in cash for the shares of stock issued.
11 V.S.A. § 1023
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1023. Ownership or control of other corporations

§ 1023. Ownership or control of other corporations|An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of, any other corporation or corporations, with or without capital stock, and engaged in preserving, drying, processing, canning, packing, storing, handling, shipping, utilizing, manufacturing, marketing, or selling the agricultural products handled by the association or byproducts thereof.
11 V.S.A. § 1024
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1024. Warehouse receipts

§ 1024. Warehouse receipts|When such corporations are warehousing corporations, they may issue negotiable or nonnegotiable warehouse receipts of the association against the commodities delivered, and such warehouse receipts shall be considered as adequate collateral to the extent of the usual and current value of the commodity represented thereby. In case such warehouse is licensed, or licensed and bonded, under the laws of this or any other state of the United States, its warehouse receipt delivered to the association on commodities of the association or its members, or delivered by the association or by its members, shall not be challenged or discriminated against because of ownership or control, wholly or in part, by the association.
11 V.S.A. § 1025
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1025. Joint agreements

§ 1025. Joint agreements|Upon resolution adopted by its board of directors, an association may enter into all necessary and proper contracts or arrangements with any other cooperative corporation, association, or associations, formed in this or in any other state, for the cooperative and more economical carrying on of its business or any part thereof. Any two or more associations may, by an agreement, unite in employing and using or may separately employ and use the same personnel, methods, means, and agencies for carrying on and conducting their respective businesses.
11 V.S.A. § 1026
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1026. Annual report

§ 1026. Annual report|An association formed under this subchapter shall prepare and submit at its annual meeting an annual report containing the name of the association, its principal place of business, a general statement of its business operations during the fiscal year, showing the amount of capital stock paid for and the number of stockholders, if a stock association, or the number of members and amount of membership fees received, if a nonstock association, the total expenses of operation, and the amount of its assets and indebtedness or liabilities.
11 V.S.A. § 1027
2021 Vermont Statutes|Title 11 - Corporations, Partnerships and Associations|Chapter 7 - Cooperatives|§ 1027. Foreign corporations

§ 1027. Foreign corporations|A corporation or association organized under generally similar laws of another state shall be allowed to carry on any proper activities, operations, and functions in this State upon compliance with the general regulations applicable to foreign corporations desiring to do business in this State. All contracts which could be made by an association incorporated hereunder, made by or with such association, shall be legal and valid and enforceable in this State with all of the remedies set forth in this subchapter.