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2021 Vermont Statutes
Title 11C - Mutual Benefit Enterprises
Chapter 8 - Directors and Officers
§ 802. No liability as director for mutual benefit enterprise's obligations
Universal Citation:
11 VT Stats § 802 (2021)
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§ 802. No liability as director for mutual benefit enterprise's obligations
A debt, obligation, or other liability of a mutual benefit enterprise is solely that of the enterprise and is not a debt, obligation, or liability of a director solely by reason of being a director. An individual is not personally liable, directly or indirectly, for an obligation of an enterprise solely by reason of being a director. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
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