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17 chapters · 157 sections in this title.
11C V.S.A. ch. 006, § 601 Member’s interest
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§ 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.…
11C V.S.A. ch. 006, § 602 Patron and investor member’s interests
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§ 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…
11C V.S.A. ch. 006, § 603 Transferability of member’s interest
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§ 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 transfe…
11C V.S.A. ch. 006, § 604 Security interest and set-off
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§ 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 memb…