Vermont Statutes Title 11 Sec. 1604
Terms Used In Vermont Statutes Title 11 Sec. 1604
- Articles of organization: means the articles of organization of a mutual benefit enterprise required by section 302 of this title. See
- Entity: means a person other than an individual. See
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Mutual benefit enterprise: means an enterprise organized under this title. See
- State: means a state of the United States, District of Columbia, Puerto Rico, the U. See
- Statute: A law passed by a legislature.
§ 1604. Filings required for conversion; effective date
(a) After a plan of conversion is approved:
(1) a converting mutual benefit enterprise shall deliver to the Secretary of State for filing articles of conversion, which shall include:
(A) a statement that the mutual benefit enterprise has been converted into another entity;
(B) the name and form of the converted entity and the jurisdiction of its governing statute;
(C) the date the conversion is effective under the governing statute of the converted entity;
(D) a statement that the conversion was approved as required by this title;
(E) a statement that the conversion was approved as required by the governing statute of the converted entity; and
(F) if the converted entity is an entity organized in a jurisdiction other than this State and is not authorized to transact business in this State, the street address and, if different, mailing address of an office which the Secretary of State may use for purposes of section 120 of this title; and
(2) if the converting entity is not a converting mutual benefit enterprise, the converting entity shall deliver to the Secretary of State for filing articles of organization, which shall include, in addition to the information required by section 302 of this title:
(A) a statement that the enterprise was converted from another entity;
(B) the name and form of the converting entity and the jurisdiction of its governing statute; and
(C) a statement that the conversion was approved in a manner that complied with the converting entity’s governing statute.
(b) A conversion becomes effective:
(1) if the converted entity is a mutual benefit enterprise, when the articles of conversion take effect pursuant to subsection 203(c) of this title; or
(2) if the converted entity is not a mutual benefit enterprise, as provided by the governing statute of the converted entity. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Vermont Statutes Title 11 Sec. 1604
Terms Used In Vermont Statutes Title 11 Sec. 1604
§ 1604. Loans
Any lender is authorized to make loans secured by cooperative interests of a cooperative housing corporation, including limited equity cooperatives, upon the same terms and with the same limitations as other consumer and residential loans. (Added 1987, No. 254 (Adj. Sess.), § 1, eff. June 16, 1988.)