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Vt. Stat. Ann. tit. 11C, § 602

Patron and investor member’s interests

Known as the Mutual Benefit Enterprise Act

The act spans §§ 11–11 (158 sections).

Added 2011, No. 84 (Adj

(a) Unless the organic rules establish investor members’ interests, a member’s interest is a patron member’s interest.

(b) Unless the organic rules otherwise provide, if a mutual benefit enterprise has investor members, while a person is a member of the enterprise, the person:

(1) if admitted as a patron member, remains a patron member;

(2) if admitted as an investor member, remains an investor member; and

(3) if admitted as a patron member and an investor member remains a patron and an investor member if not dissociated in one of the capacities.

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