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Terms Used In Vermont Statutes Title 11 Sec. 1011

  • Contract: A legal written agreement that becomes binding when signed.

§ 1011. Contracts with directors

During the term of his or her office, a director shall not be a party to a contract for profit with the association differing in any way from the business relations accorded each member or holder of common stock of the association or others, or upon terms differing from those generally current in that district.