§ 2700. Default by compacting state—Article X
If any compacting state shall at any time default in the performance of any of its obligations assumed or imposed in accordance with the provisions of this compact, all rights and privileges and benefits conferred by this compact or agreement hereunder shall be suspended from the effective date of such default as fixed by the board. Unless such default shall be remedied within a period of two years following the effective date of such default, this compact may be terminated with respect to such defaulting state by affirmative vote of three-fourths of the other member states. Any such defaulting state may be reinstated by (a) performing all acts and obligations upon which it has heretofore defaulted, and (b) application to and approval by a majority vote of the board.
Structure Vermont Statutes
Chapter 83 - New England Higher Education Compact
§ 2692. Creation of Board of Higher Education—Article II
§ 2693. When operative—Article III
§ 2694. General administrative powers and duties of board—Article IV
§ 2695. General powers of board; contracts—Article V
§ 2696. Availability of funds—Article VI
§ 2697. Power of board as to grants, devises, gifts and bequests—Article VII
§ 2698. Separability—Article VIII
§ 2699. Period of existence; withdrawal; reinstatement—Article IX
§ 2700. Default by compacting state—Article X
§ 2731. Appointment of State members of board