Vt. Stat. Ann. tit. 11C, § 105
Purpose and duration of mutual benefit enterprise
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
(1) A mutual benefit enterprise is an entity distinct from its members.
(1) A mutual benefit enterprise is an entity distinct from its members.
(2) A mutual benefit enterprise may be organized for any lawful purpose, whether or not for profit.
(2) A mutual benefit enterprise may be organized for any lawful purpose, whether or not for profit.
(3) Unless the articles of organization state a term for a mutual benefit enterprise’s existence, the enterprise has perpetual duration. Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.
(3) Unless the articles of organization state a term for a mutual benefit enterprise’s existence, the enterprise has perpetual duration.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.