Vt. Stat. Ann. tit. 11C, § 504
No liability as member for enterprise’s obligations
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
Unless the articles of organization otherwise provide, a debt, obligation, or other liability of a mutual benefit enterprise is solely that of the enterprise and is not the debt, obligation, or liability of a member solely by reason of being a member.
Unless the articles of organization otherwise provide, a debt, obligation, or other liability of a mutual benefit enterprise is solely that of the enterprise and is not the debt, obligation, or liability of a member solely by reason of being a member.
Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.