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Vt. Stat. Ann. tit. 11C, § 801

Board of directors

Known as the Mutual Benefit Enterprise Act

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

Added 2011, No. 84 (Adj

(a) A mutual benefit enterprise shall have a board of directors of at least three individuals unless the enterprise has fewer than three members. If the enterprise has fewer than three members, the number of directors may not be fewer than the number of members.

(b) The affairs of a mutual benefit enterprise shall be managed by or under the direction of the board of directors. The board may adopt policies and procedures that do not conflict with the organic rules or this title.

(c) An individual is not an agent for a mutual benefit enterprise solely by being a director.

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