Vermont Statutes Title 11 C. Mutual Benefit Enterprises, § 405. Approval of amendment

(1) at least two-thirds of the voting power of members present at a members' meeting called under section 402 of this title; and

(2) if the mutual benefit enterprise has investor members, at least a majority of the votes cast by patron members, unless the organic rules require a greater percentage vote by patron members.

(1) at least a majority vote of the voting power of all members present at a members' meeting called under section 402 of this title, unless the organic rules require a greater percentage; and

(2) if a mutual benefit enterprise has investor members, a majority of the votes cast by patron members, unless the organic rules require a larger affirmative vote by patron members.

(1) a different percentage that is not less than a majority of members voting at the meeting;

(2) measured against the voting power of all members; or

(3) a combination of subdivisions (1) and (2) of this subsection.

(1) personal liability for an obligation of the enterprise; or

(2) an obligation or liability for an additional contribution.

(1) the equity capital structure of the mutual benefit enterprise, including the rights of the enterprise's members to share in profits or distributions or the relative rights, preferences, and restrictions granted to or imposed upon one or more districts, classes, or voting groups of similarly situated members;

(2) the transferability of a member's interest;

(3) the manner or method of allocation of profits or losses among members;

(4) the quorum for a meeting and the rights of voting and governance; or

(5) unless otherwise provided in the organic rules, the terms for admission of new members.