Vermont § 506 - Annual meeting of members

§ 506. Annual meeting of members

• (a) Members shall meet annually at a time provided in the organic rules or set by the
  board of directors not inconsistent with the organic rules. (b) An annual members’ meeting may be held inside or outside this State at the place stated
  in the organic rules or selected by the board of directors not inconsistent with the
  organic rules. (c) Unless the organic rules otherwise provide, members may attend or conduct an annual
  members’ meeting through any means of communication if all members attending the meeting
  can communicate with each other during the meeting. (d) The board of directors shall report or cause to be reported at the enterprise’s annual
  members’ meeting the enterprise’s business and financial condition as of the close
  of the most recent fiscal year. (e) Unless the organic rules otherwise provide, the board of directors shall designate
  the presiding officer of the enterprise’s annual members’ meeting. (f) Failure to hold an annual members’ meeting does not affect the validity of any action
  by the mutual benefit enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)