Vermont Statutes Title 11 Sec. 109
Terms Used In Vermont Statutes Title 11 Sec. 109
- Entity: means a person other than an individual. See
- Foreign enterprise: means an entity organized in a jurisdiction other than this State under a law similar to this title. 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
- State: means a state of the United States, District of Columbia, Puerto Rico, the U. See
§ 109. Requirements of other laws
(a) This title does not alter or amend any law that governs the licensing and regulation of an individual or entity in carrying on a specific business or profession even if that law permits the business or profession to be conducted by a mutual benefit enterprise, a foreign enterprise, or a member of either.
(b) A mutual benefit enterprise may not conduct an activity that, under law of this State other than this title, may be conducted only by an entity that meets specific requirements for the internal affairs of that entity unless the organic rules of the enterprise conform to those requirements.
(c) If an activity of a mutual benefit enterprise is within the scope of the Uniform Common Interest Ownership Act, the requirements of the Uniform Common Interest Ownership Act apply, even if there is a conflicting provision in this title. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)