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2018 Vermont Statutes
Title 11C - Mutual Benefit Enterprises
Chapter 10 - Contributions, Allocations, And Distributions
§ 1005 Distributions
Universal Citation: 11 V.S.A. § 1005
§ 1005. Distributions
(a) Unless the organic rules otherwise provide and subject to section 1007 of this title, the board of directors may authorize, and the mutual benefit enterprise may make, distributions to members.
(b) Unless the organic rules otherwise provide, distributions to members may be made in any form, including money, capital credits, allocated patronage equities, revolving fund certificates, and the mutual benefit enterprise's own or other securities. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
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