Vermont § 1002 - Contribution and valuation
Full text of Vermont Vermont Statutes Online § 1002 — Contribution and valuation, with citation guidance and answers to common questions.
§ 1002. Contribution and valuation
- (a) Unless the organic rules otherwise provide, the contributions of a member to a mutual
benefit enterprise may consist of tangible or intangible property or other benefit
to the enterprise, including money, labor, or other services performed or to be performed,
promissory notes, other agreements to contribute money or property, and contracts
to be performed. (b) The receipt and acceptance of contributions and the valuation of contributions shall
be reflected in a mutual benefit enterprise’s records. (c) Unless the organic rules otherwise provide, the board of directors shall determine
the value of a member’s contributions received or to be received, and the determination
by the board of directors of valuation is conclusive for purposes of determining whether
the member’s contribution obligation has been met. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Frequently Asked Questions About Vermont § 1002
What does Vermont Statutes Online § 1002 cover?
Section 1002 ("Contribution and valuation") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 1002?
A common citation format is "Vermont Statutes Online § 1002" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 1002 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.