Vermont Statutes Title 8 Sec. 31108
Terms Used In Vermont Statutes Title 8 Sec. 31108
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. 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
§ 31108. Amendment to articles of incorporation
(a) The articles of incorporation, or comparable organization document as applicable to the credit union, may be amended as provided in the bylaws. Notwithstanding the provisions of the bylaws, however, written notice of the meeting and text of the proposed amendment shall be given to each director at least seven days prior to the meeting and to each member in accordance with section 31408 of this title.
(b) The credit union shall file with the Commissioner within 10 days after its adoption one copy of any proposed amendment. The credit union shall not amend its articles or comparable organizational document without the written approval of the Commissioner.
(c) Following the Commissioner’s approval of the amendment, the credit union shall submit the amendment to the Secretary of State for filing as required by Title 11B. (Added 2005, No. 16, § 1, eff. July 1, 2005.)