Terms Used In Vermont Statutes > Title 11 > Chapter 7 > Subchapter 1 - Provisions Relating to Cooperatives Formed Under General Corporation Law

• Articles of organization: means the articles of organization of a mutual benefit enterprise required by section 302 of this title. See
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Board of directors: means the board of directors of a mutual benefit enterprise. See
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Director: means a director of a mutual benefit enterprise. See
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. 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
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Quorum: The number of legislators that must be present to do business.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.