Vermont Statutes Title 11 Sec. 4023
Terms Used In Vermont Statutes Title 11 Sec. 4023
- Articles of organization: means initial, amended, and restated articles of organization and articles of merger. See
- Designated office: means the office of a limited liability company designated pursuant to section 4007 of this title or the principal office of a foreign limited liability company. See
- Operating agreement: means any form of description of membership rights and obligations under section 4003 of this title, stored or depicted in any tangible or electronic medium, which is agreed to by the members, including amendments to the agreement. See
- Service of process: The service of writs or summonses to the appropriate party.
§ 4023. Articles of organization
(a) Articles of organization of a limited liability company shall set forth:
(1) the name of the company;
(2) the address of the initial designated office;
(3) the name and street address of the initial agent for service of process;
(4) the name and address of each organizer;
(5) if the company has no members at the time of filing, a statement to that effect; and
(6) whether the company is an L3C.
(b) Articles of organization of a limited liability company may set forth:
(1) provisions permitted to be set forth in an operating agreement; and
(2) other matters not inconsistent with law.
(c) Articles of organization of a limited liability company may not vary the nonwaivable provisions of subsection 4003(b) of this title. As to all other matters, if any provision of an operating agreement is inconsistent with the articles of organization:
(1) the operating agreement controls as to managers, members, and members’ transferees; and
(2) the articles of organization control as to persons other than managers, members, and their transferees who relied on the articles to their detriment. (Added 2015, No. 17, § 2.)