There Is a Newer Version
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the Vermont Statutes
2011 Vermont Code
Title 11 Corporations, Partnerships and Associations
Chapter 8 WORKER COOPERATIVE CORPORATIONS
§ 1089 Directors; officers
Universal Citation:
11 VT Stats § 1089. (2011 through Adj Sess)
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§ 1089. Directors; officers
(a) The bylaws of a worker cooperative shall provide for the election, terms, classifications, if any, and removal of directors and officers in accordance with the provisions of this chapter or the provisions of chapter 17 of this title.
(b) Nonmembers may serve as directors or officers of a worker cooperative but at no time shall there be a majority of nonmember directors.
(c) Vacancies in director positions resulting from death, resignation or removal shall be filled by vote of the member directors or by vote of the members. (Added 1985, No. 46, { 1.)
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