Vermont § 13303 - Powers and duties of corporators and members

§ 13303. Powers and duties of corporators and members

• (a) Corporators or members shall hold regular annual meetings, at a time fixed in the
  internal governance documents of the institution, for the purpose of electing directors
  of the institution and for the transaction of any other business that may properly
  be brought before such meeting. (b) Special meetings of the corporators or members may be called at any time by an executive
  officer of the institution or in any other manner provided for in the internal governance
  documents. (c) Notice of the annual meeting or any special meeting shall be given by public advertisement
  in a newspaper or newspapers of general circulation in the county or counties where
  each office of the institution is located or in such other newspapers as the Commissioner
  may designate, provided that corporators shall also be sent notice by mail at their
  last known address. The notice shall be published on at least two different days and
  in such manner as to be reasonably conspicuous. The last publication of notice shall
  be at least seven days prior to such annual or special meeting. Notice of any special
  meeting shall state the purpose for which such meeting is called. (d) The internal governance documents shall prescribe the number of corporators or members
  that constitute a quorum at any annual or special meeting. The internal governance
  documents may also provide for voting by proxy. (e) Meetings of the corporators or members shall be held at the institution’s principal
  office, or at such other place in the area of this State served by the institution
  as the notice shall designate. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)