Vermont Statutes Title 11 Sec. 807
Terms Used In Vermont Statutes Title 11 Sec. 807
- Board of directors: means the board of directors of a mutual benefit enterprise. See
- Director: means a director of a mutual benefit enterprise. See
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Member: means a person that is admitted as a patron member or investor member or both in a mutual benefit enterprise. See
- 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
- 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
§ 807. Removal of director
Unless the organic rules otherwise provide, the following rules apply:
(1) Members may remove a director with or without cause.
(2) A member or members holding at least 10 percent of the total voting power entitled to be voted in the election of a director may demand removal of the director by one or more signed petitions submitted to the officer of the mutual benefit enterprise charged with keeping its records.
(3) Upon receipt of a petition for removal of a director, an officer of the enterprise or the board of directors shall:
(A) call a special meeting of members to be held not later than 90 days after receipt of the petition by the enterprise; and
(B) mail or otherwise transmit or deliver in a record to the members entitled to vote on the removal and to the director to be removed notice of the meeting which complies with section 508 of this title.
(4) A director is removed if the votes in favor of removal are equal to or greater than the votes required to elect the director at the time of the vote. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Vermont Statutes Title 11 Sec. 807
Terms Used In Vermont Statutes Title 11 Sec. 807
- 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.
§ 807. Professional services through officers, employees, agents
A professional corporation may render professional services only through its officers, employees, and agents, who are duly licensed to render such professional services. However, this provision shall not be interpreted to prohibit the employment by a professional corporation of clerks, secretaries, bookkeepers, technicians, and other assistants who are not usually and ordinarily considered by custom and practice to be rendering professional services to the public for which the license is required. (1963, No. 218, § 8, eff. July 3, 1963.)