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§ 817 — Vermont Law | CourtGPT
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  4. Title 11c - Mutual Benefit Enterprises/
  5. Chapter 8 - Directors and Officers§ 801. Board of Directors/
  6. § 817
Vermont Legal Code

§ 817

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(b) Unless the organic rules otherwise provide, an individual appointed to serve on a committee of a mutual benefit enterprise need not be a director or member. (c) An individual who is not a director and is serving on a committee has the same rights, duties, and obligations as a director serving on the committee. (d) Unless the organic rules otherwise provide, each committee of a mutual benefit enterprise may exercise the powers delegated to it by the board of directors, but a committee may not: (1) approve allocations or distributions except according to a formula or method prescribed by the board of directors; (2) approve or propose to members action requiring approval of members; or(3) fill vacancies on the board of directors or any of its committees. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)