2013 Vermont Statutes
Title 30 Public Service
Chapter 81 ELECTRIC COOPERATIVES
§ 3027 Dissolution-Cooperative not commencing business
3027. Dissolution-Cooperative not commencing business
A cooperative which has not commenced business may be dissolved by delivering to the secretary of state a certificate of dissolution which shall be executed and acknowledged on behalf of the cooperative by a majority of the incorporators and which shall state:
(1) the name of the cooperative;
(2) the address of its principal office;
(3) that the cooperative has not commenced business;
(4) that any sums received by the cooperative, less any part thereof disbursed for expenses of the cooperative, have been returned or paid to those entitled thereto;
(5) that no debt of the cooperative is unpaid; and
(6) that a majority of the incorporators elect that the cooperative be dissolved.
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