Vermont Statutes Title 11 C. Mutual Benefit Enterprises, § 1601. Definitions

(1) “Constituent entity” means an entity that is a party to a merger.

(2) “Constituent mutual benefit enterprise” means a mutual benefit enterprise that is a party to a merger.

(3) “Converted entity” means the organization into which a converting entity converts pursuant to sections 1602 through 1605 of this title.

(4) “Converting entity” means an entity that converts into another entity pursuant to sections 1602 through 1605 of this title.

(5) “Converting mutual benefit enterprise” means a converting entity that is a mutual benefit enterprise.

(6) “Organizational documents” means articles of incorporation, bylaws, articles of organization, operating agreements, partnership agreements, or other documents serving a similar function in the creation and governance of an entity.

(7) “Personal liability” means personal liability for a debt, liability, or other obligation of an entity imposed, by operation of law or otherwise, on a person that co-owns or has an interest in the entity:

(8) “Surviving entity” means an entity into which one or more other entities are merged, whether the entity existed before the merger or is created by the merger.