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2014 Vermont Statutes
Title 11 - Corporations, Partnerships and Associations
Chapter 7 - COOPERATIVES
Subchapter 2: THE COOPERATIVE MARKETING ACT
§ 1019 Damages

11 V.S.A. § 1019 What's This?

§ 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.

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