PocketLaw | Vermont Statutes | Organization And Management Of Mutual

Organization And Management Of Mutual And Cooperative Financial Institutions

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Application to organize

Issuance of certificate of general good; refusal to issue certificate of general good

Requirements to commence business; minimum initial capital contribution deposits; examination; certificate of authority

Submission to Secretary of State

Payment of capital deposits

Certificate to commence business

Failure to commence business

Initial capital deposits; capital reserves

Return of initial capital deposit

Capital notes or debentures as capital reserve

Corporators of mutual financial institutions

Members of a cooperative financial institution; qualifications and voting rights

Powers and duties of corporators and members

Directors: number, election, qualifications, and term

Meetings of the governing body

Powers and duties of the governing body

Officers

Voluntary dissolution; procedure; criteria