Vermont Statutes Title 11 Sec. 107
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Terms Used In Vermont Statutes Title 11 Sec. 107
- Director: means a director of a mutual benefit enterprise. See
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
- State: means a state of the United States, District of Columbia, Puerto Rico, the U. See
§ 107. Governing law
The law of this State governs:
(1) the internal affairs of a mutual benefit enterprise; and
(2) the liability of a member as member and a director as director for the debts, obligations, or other liabilities of a mutual benefit enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)