§ 516. Action without a meeting
(a) Unless the organic rules require that action be taken only at a members’ meeting, any action that may be taken by the members may be taken without a meeting if each member entitled to vote on the action consents in a record to the action.
(b) Consent under subsection (a) of this section may be withdrawn by a member in a record at any time before the mutual benefit enterprise receives a consent from each member entitled to vote.
(c) Consent to any action may specify the effective date or time of the action. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Structure Vermont Statutes
Title 11C - Mutual Benefit Enterprises
§ 503. No power as member to bind enterprise
§ 504. No liability as member for enterprise’s obligations
§ 505. Right of member and former member to information
§ 506. Annual meeting of members
§ 507. Special meeting of members
§ 508. Notice of members’ meeting
§ 509. Waiver of member’s meeting notice
§ 511. Voting by patron members
§ 512. Determination of voting power of patron member
§ 513. Voting by investor members
§ 514. Voting requirements for members