§ 105. Purpose and duration of mutual benefit enterprise
(a) A mutual benefit enterprise is an entity distinct from its members.
(b) A mutual benefit enterprise may be organized for any lawful purpose, whether or not for profit.
(c) Unless the articles of organization state a term for a mutual benefit enterprise’s existence, the enterprise has perpetual duration. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Structure Vermont Statutes
Title 11C - Mutual Benefit Enterprises
Chapter 1 - General Provisions
§ 103. Mutual benefit enterprise subject to amendment or repeal
§ 104. Nature of mutual benefit enterprise
§ 105. Purpose and duration of mutual benefit enterprise
§ 108. Supplemental principles of law
§ 109. Requirements of other laws
§ 110. Relation to restraint of trade and antitrust laws
§ 113. Effect of organic rules
§ 115. Business transactions of member with mutual benefit enterprise
§ 117. Designated office and agent for service of process
§ 118. Change of designated office or agent for service of process