LawServer Nav Menu

Vermont Statutes Title 11 Sec. 7-01

Terms Used In Vermont Statutes Title 11 Sec. 7-01

  • Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. See
  • Bylaws: means the code or codes of rules (other than the articles) adopted pursuant to this title for the regulation or management of the affairs of the corporation, stored or depicted in any tangible or electronic medium, and irrespective of the name or names by which such rules are designated. 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.
  • Corporation: means public benefit and mutual benefit corporation. See
  • Meeting: means any structured communications conducted by participants in person or through the use of an electronic or telecommunications medium permitting simultaneous or sequentially structured communications. See
  • Membership: refers to the rights and obligations a member or members have pursuant to a corporation's articles, bylaws, and this title. See
  • Principal office: means the office (in or outside this State) so designated in the biennial report filed pursuant to section 16. See
  • State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See

§ 7.01. Annual meeting and regular meetings

(a) A corporation with members shall hold an annual membership meeting at a time stated in or fixed in accordance with the bylaws, unless a different time is specifically set forth in the notice of meeting with the change in time being duly noted.

(b) A corporation with members may hold regular membership meetings at the times stated in or fixed in accordance with the bylaws, unless a different time is specifically set forth in the notice of meeting with the change in time being duly noted.

(c) Annual and regular membership meetings shall be held in this State unless permitted in the bylaws of the corporation to be held outside this State. Annual meetings shall be held at the place stated in or fixed in accordance with the bylaws. If no place is stated in or fixed in accordance with the bylaws, or otherwise stated in the notice of meeting, annual meetings shall be held at the corporation’s principal office.

(d) At the annual meeting:

(1) the president and chief financial officer shall report on the activities and financial condition of the corporation; and

(2) the members shall consider and act upon such other matters as may be raised consistent with the notice requirements of section 7.05 and subsection 7.23(b) of this chapter.

(e) At regular meetings, the members shall consider and act upon such matters as may be raised consistent with the notice requirements of section 7.05 and subsection 7.23(b) of this title.

(f) An annual or regular meeting may be conducted by means of any electronic or telecommunications mechanism, including video-conferencing telecommunication.

(g) The failure to hold an annual meeting at a time stated in or fixed in accordance with a corporation’s bylaws does not affect the validity of any corporation action. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997; amended 2009, No. 78 (Adj. Sess.), § 33, eff. April 15, 2010.)

Vermont Statutes Title 11 Sec. 7-01

Terms Used In Vermont Statutes Title 11 Sec. 7-01

  • Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. 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.
  • Meeting: means any structured communications conducted by participants in person or through the use of electronic or telecommunications medium permitting simultaneous or sequentially structured communications for the purpose of reaching a collective agreement. See
  • Principal office: means the office (in or outside this State) so designated in the annual report where the principal executive offices of a domestic or foreign corporation are located. See
  • State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See

§ 7.01. Annual meeting

Annual shareholders’ meetings shall be held in this State, unless permitted in the bylaws of the corporation to be held outside this State. Annual meetings shall be held at the place stated in or fixed in accordance with the bylaws. If no place is stated in or fixed in accordance with the bylaws, annual meetings shall be held at the corporation’s principal office. An annual meeting may be conducted by means of any electronic or telecommunications mechanism, including video-conference telecommunication. The failure to hold an annual meeting at the time stated or fixed in accordance with a corporation’s bylaws does not affect the validity of any corporate action. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994; amended 2007, No. 190 (Adj. Sess.), § 88, eff. June 6, 2008.)