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Vt. Stat. Ann. tit. 11C, § 1005

Distributions

Known as the Mutual Benefit Enterprise Act

The act spans §§ 11C-1001 to 11C-909 (158 sections).

Added 2011, No. 84 (Adj

(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.

Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.