2011 Vermont Code
Title 11B Nonprofit Corporations
Chapter 7 MEMBERS, MEETINGS AND VOTING
§ 4 Action by written consent
§ 7.04. Action by written consent
(a) Unless the articles of incorporation preclude the taking of action required or permitted by this title without a members' meeting, action required or permitted by this title to be taken at a members' meeting may be taken without a meeting if the action is taken by all the members entitled to vote on the action. Each action must be evidenced by one or more written consents describing the action taken, signed by all the members entitled to vote on the action, and delivered to the corporation for inclusion in the minutes or filed with the corporate records.
(b) If the articles of incorporation contain specific authority to do so, action required or permitted by this title to be taken at a members' meeting may be taken without a meeting if the action is taken by the holders of at least a majority of all of the members entitled to vote on the action, and if each member is given prior notice of the action proposed to be taken. Each action must be evidenced by one or more written consents describing the action taken, signed by at least a majority of all the members entitled to vote and delivered to the corporation for inclusion in the minutes or filed with the corporate records. Prompt notice of any action taken by less than unanimous written consent in lieu of a meeting shall be given to all shareholders entitled to vote on such action under this title.
(c) If not otherwise fixed under section 7.03 or 7.07 of this title, the record date for determining shareholders entitled to take action without a meeting is the date the first member signs the consent under subsection (a) of this section.
(d) A consent signed under this section has the effect of a meeting vote and may be described as such in any document.
(e) For purposes of this section, written consent may be evidenced by an electronic communication or an electronic record. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997; amended 2009, No. 78 (Adj. Sess.), § 35.)
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