2016 Vermont Statutes
Title 11C - Mutual Benefit Enterprises
Chapter 8 - Directors And Officers
§ 801 Board of directors
§ 801. Board of directors
(a) A mutual benefit enterprise shall have a board of directors of at least three individuals unless the enterprise has fewer than three members. If the enterprise has fewer than three members, the number of directors may not be fewer than the number of members.
(b) The affairs of a mutual benefit enterprise shall be managed by or under the direction of the board of directors. The board may adopt policies and procedures that do not conflict with the organic rules or this title.
(c) An individual is not an agent for a mutual benefit enterprise solely by being a director. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
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