Vermont § 4574 - Officers; quorum The directors shall elect one of their number as chair
Full text of Vermont Vermont Statutes Online § 4574 — Officers; quorum The directors shall elect one of their number as chair, with citation guidance and answers to common questions.
§ 4574. Officers; quorum The directors shall elect one of their number as chair
- . The directors shall elect
a secretary and a treasurer who need not be directors, and the same person may be
elected to serve both as secretary and treasurer. The powers of the Bank are vested
in the directors thereof and three directors of the Bank shall constitute a quorum.
Action may be taken and motions and resolutions adopted by the Bank at any meeting
thereof by the affirmative vote of at least three directors of the Bank. A vacancy
in the directorship of the Bank shall not impair the right of a quorum to exercise
all the powers and perform all the duties of the Bank. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970; amended 1971, No. 148 (Adj. Sess.), § 1, eff. Feb. 14, 1972.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 4574
What does Vermont Statutes Online § 4574 cover?
Section 4574 ("Officers; quorum The directors shall elect one of their number as chair") 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 § 4574?
A common citation format is "Vermont Statutes Online § 4574" (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 § 4574 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.