Vermont Statutes Title 11 Sec. 4172
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Terms Used In Vermont Statutes Title 11 Sec. 4172
- Articles of organization: means initial, amended, and restated articles of organization and articles of merger. See
- Business: includes every trade, occupation, profession, and other lawful purpose, whether or not carried on for profit. See
- Meeting: means any structured communication conducted by participants in person or through an electronic or telecommunications medium that permits simultaneous or sequentially structured communications. See
§ 4172. Election
A limited liability company organized pursuant to this title for the purpose of operating a business that utilizes blockchain technology for a material portion of its business activities may elect to be a blockchain-based limited liability company (BBLLC) by:
(1) specifying in its articles of organization that it elects to be a BBLLC; and
(2) meeting the requirements in subdivision 4173(2) and subsection 4174(a) of this title. (Added 2017, No. 205 (Adj. Sess.), § 7.)