PocketLaw | Vermont Statutes | Cooperative Housing Ownership Act

Cooperative Housing Ownership Act

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Short title

Purpose

Definitions

Application

Name; use of 'cooperative'

Property classification of cooperative interest

Perfection of security interests in cooperative interests

Articles of association; minimum requirements

Subscriptions for membership prior to organization; organization meeting

Minimum occupancy requirement

Membership

Bylaws; minimum requirements

Membership shares; requirements

Voting

Meetings; notice; quorum

Directors; election; removal

Merger; consolidation

Limited equity cooperatives

Proprietary lease

Deposits; sale of cooperative interests; escrow

Offering of cooperative interests; subscription agreement; disclosures required

Consumer protection; enforcement

Dissolution

Loans

Net income; apportionment

Conversion; cooperative apartments

Nondiscrimination

Eligibility for property tax relief

Homestead exemption from attachment and execution

Separate taxation; mobile home cooperatives