Terms Used In Vermont Statutes Title 11 Sec. 1103

  • Member: means a person that is admitted as a patron member or investor member or both in a mutual benefit enterprise. See
  • Organic rules: means the articles of organization and bylaws of a mutual benefit enterprise. See

§ 1103. Power of estate of member

Unless the organic rules provide for greater rights, if a member is dissociated because of death or is expelled by reason of being adjudged incompetent, the member’s personal representative or other legal representative may exercise the rights of a transferee of the member’s financial rights and, for purposes of settling the estate of a deceased member, may exercise the informational rights of a current member to obtain information under section 505 of this title. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)