§ 1600. Deposits; sale of cooperative interests; escrow
Deposits taken in connection with the sale of cooperative interests by a cooperative housing corporation, with respect to units intended for residential use shall be deposited and held in an interest-bearing escrow account for the benefit of the purchaser, until such time as the transaction closes unless the escrow requirement is expressly waived by the purchaser. (Added 1987, No. 254 (Adj. Sess.), § 1, eff. June 16, 1988.)
Structure Vermont Statutes
Title 11 - Corporations, Partnerships and Associations
Chapter 14 - Cooperative Housing Ownership Act
§ 1585. Name; use of “cooperative”
§ 1586. Property classification of cooperative interest
§ 1587. Perfection of security interests in cooperative interests
§ 1588. Articles of association; minimum requirements
§ 1589. Subscriptions for membership prior to organization; organization meeting
§ 1590. Minimum occupancy requirement
§ 1592. Bylaws; minimum requirements
§ 1593. Membership shares; requirements
§ 1595. Meetings; notice; quorum
§ 1596. Directors; election; removal
§ 1598. Limited equity cooperatives
§ 1600. Deposits; sale of cooperative interests; escrow
§ 1601. Offering of cooperative interests; subscription agreement; disclosures required
§ 1602. Consumer protection; enforcement
§ 1605. Net income; apportionment
§ 1606. Conversion; cooperative apartments
§ 1608. Eligibility for property tax relief