Vermont Statutes Title 11 Sec. 1502
Terms Used In Vermont Statutes Title 11 Sec. 1502
- 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.
- 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
§ 1502. Signing and filing of articles
In case it is voted to form a new corporation, a church, or religious or ecclesiastical corporation or society so voting, at the meeting when such vote is taken, shall authorize the secretary of such corporation or society to sign the name of such corporation or society to the articles of association of such new corporation. There shall be filed with the articles of association of such new corporation an attested copy of the minutes of the meeting of each corporation or society at which it was voted to form such new corporation. Upon the filing of the articles of association in the Office of the Secretary of State as required by section 1927 of this title, all rights, title, and interest of each church or religious or ecclesiastical corporation or society signing such articles of association shall vest in such new corporation.
Vermont Statutes Title 11 Sec. 1502
Terms Used In Vermont Statutes Title 11 Sec. 1502
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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
§ 1502. Member approval of other disposition of assets
A sale, lease, exchange, license, or other disposition of assets of a mutual benefit enterprise, other than a disposition described in section 1501 of this title, requires approval of the enterprise’s members under sections 1503 and 1504 of this title if the disposition leaves the enterprise without significant continuing business activity. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)