§ 801. Board of directors
(a) A mutual benefit enterprise shall have a board of directors of at least three individuals unless the enterprise has fewer than three members. If the enterprise has fewer than three members, the number of directors may not be fewer than the number of members.
(b) The affairs of a mutual benefit enterprise shall be managed by or under the direction of the board of directors. The board may adopt policies and procedures that do not conflict with the organic rules or this title.
(c) An individual is not an agent for a mutual benefit enterprise solely by being a director. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Structure Vermont Statutes
Title 11C - Mutual Benefit Enterprises
Chapter 8 - Directors and Officers
§ 802. No liability as director for mutual benefit enterprise’s obligations
§ 803. Qualifications of directors
§ 804. Election of directors and composition of board
§ 806. Resignation of director
§ 808. Suspension of director by board
§ 810. Remuneration of directors
§ 814. Waiver of notice of meeting
§ 818. Standards of conduct and liability
§ 820. Other considerations of directors
§ 821. Right of director or committee member to information