Vermont Statutes Title 11 Sec. 506
Terms Used In Vermont Statutes Title 11 Sec. 506
- Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. See
- Board of directors: means the board of directors of a mutual benefit enterprise. See
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Mutual benefit enterprise: means an enterprise organized under this title. See
- Organic rules: means the articles of organization and bylaws of a mutual benefit enterprise. See
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
- State: means a state of the United States, District of Columbia, Puerto Rico, the U. See
§ 506. Annual meeting of members
(a) Members shall meet annually at a time provided in the organic rules or set by the board of directors not inconsistent with the organic rules.
(b) An annual members’ meeting may be held inside or outside this State at the place stated in the organic rules or selected by the board of directors not inconsistent with the organic rules.
(c) Unless the organic rules otherwise provide, members may attend or conduct an annual members’ meeting through any means of communication if all members attending the meeting can communicate with each other during the meeting.
(d) The board of directors shall report or cause to be reported at the enterprise’s annual members’ meeting the enterprise’s business and financial condition as of the close of the most recent fiscal year.
(e) Unless the organic rules otherwise provide, the board of directors shall designate the presiding officer of the enterprise’s annual members’ meeting.
(f) Failure to hold an annual members’ meeting does not affect the validity of any action by the mutual benefit enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)