Vermont Statutes Title 11 Sec. 1592
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Terms Used In Vermont Statutes Title 11 Sec. 1592
- Cooperative housing corporation: means a domestic corporation which has elected to be governed by the provisions of this chapter. See
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Member: means a person who owns a cooperative interest, and who is entitled to voting rights as prescribed in section 1594 of this title. See
§ 1592. Bylaws; minimum requirements
The bylaws of a cooperative housing corporation shall contain procedures under which the cooperative housing corporation‘s possessory remedy shall be pursued in the event of a member‘s default and the rights of the defaulting member, in accordance with subdivision 1599(3) of this title. (Added 1987, No. 254 (Adj. Sess.), § 1, eff. June 16, 1988.)