Vermont Statutes Title 11 Sec. 517
Terms Used In Vermont Statutes Title 11 Sec. 517
- 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
- Voting power: means the total current power of members to vote on a particular matter for which a vote may or is to be taken. See
§ 517. Districts and delegates; classes of members
(a) The organic rules may provide for the formation of geographic districts of patron members and:
(1) for the conduct of patron member meetings by district and the election of directors at the meetings; or
(2) that districts may elect district delegates to represent and vote for the districts at members’ meetings.
(b) A delegate elected under subdivision (a)(2) of this section has one vote unless voting power is otherwise allocated by the organic rules.
(c) The organic rules may provide for the establishment of classes of members, for the preferences, rights, and limitations of the classes, and:
(1) for the conduct of members’ meetings by classes and the election of directors at the meetings; or
(2) that classes may elect class delegates to represent and vote for the classes in members’ meetings.
(d) A delegate elected under subdivision (c)(2) of this section has one vote unless voting power is otherwise allocated by the organic rules. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)