Vermont Statutes Title 30 Sec. 3032
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Terms Used In Vermont Statutes Title 30 Sec. 3032
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Cooperative: means a corporation organized under this chapter or which becomes subject to this chapter in the manner hereinafter provided. See
- 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
- Person: means a natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision or agency thereof, or a body politic or other entity. See
§ 3032. Sale or lease of assets
A cooperative may not sell, lease, or otherwise dispose of all or a substantial portion of its property unless such sale, lease, or other disposition is authorized by the affirmative vote of not less than a majority of all the members of the cooperative. Members may vote in person or in a manner authorized under section 3011 of this title. (Amended 1999, No. 143 (Adj. Sess.), § 22.)