§ 1005. Distributions
(a) Unless the organic rules otherwise provide and subject to section 1007 of this title, the board of directors may authorize, and the mutual benefit enterprise may make, distributions to members.
(b) Unless the organic rules otherwise provide, distributions to members may be made in any form, including money, capital credits, allocated patronage equities, revolving fund certificates, and the mutual benefit enterprise’s own or other securities. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Structure Vermont Statutes
Title 11C - Mutual Benefit Enterprises
Chapter 10 - Contributions, Allocations, and Distributions
§ 1001. Members’ contributions
§ 1002. Contribution and valuation
§ 1003. Contribution agreements
§ 1004. Allocations of profits and losses
§ 1005. Distributions
§ 1006. Redemption or repurchase
§ 1007. Limitations on distributions
§ 1008. Liability for improper distributions; limitation of action