Vermont § 3043 - Formation of cooperatives by cooperatives

§ 3043. Formation of cooperatives by cooperatives

• (a) Notwithstanding any other provision of this chapter, one or more cooperatives formed
  under the provisions of this chapter may organize and control a cooperative having
  as its principal purpose the generation, manufacture, purchase, acquisition, accumulation,
  transmission, sale, supply, and disposal of energy, cable television, telecommunications,
  interactive media, and internet access. Such a cooperative shall have all of the powers
  of cooperatives formed under the provisions of this chapter. (b) Members of a cooperative organized pursuant to subsection (a) of this section shall
  be the cooperative or cooperatives organizing it and may include any individual, partnership,
  association, corporation, municipality, or cooperative engaged in the generation,
  transmission, or distribution of energy within or outside the State of Vermont. The
  bylaws of a cooperative organized pursuant to subsection (a) of this section may provide
  for more than one class of membership, including a class or classes with no rights
  or with limited rights to vote on matters requiring the vote of members under this
  chapter, and including a class or classes with no rights or limited rights to receive
  distributions of patronage refunds. (Added 1979, No. 51, § 1, eff. April 25, 1979; amended 1999, No. 143 (Adj. Sess.), § 26; 2023, No. 85 (Adj. Sess.), § 431, eff. July 1, 2024.)