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The Vermont Statutes Online



Title

11

:
Corporations, Partnerships and Associations






Chapter

007

:
COOPERATIVES






Subchapter

002
:
THE COOPERATIVE MARKETING ACT










 

§

998. Members

Under the terms

and conditions prescribed in its bylaws, a marketing cooperative may admit as

members, or issue common stock to, only cooperative marketing associations

legally formed under the laws of this state, or persons engaged in the

production of the agricultural or handcraft products to be handled by or

through the association, including the lessees and tenants of land used

therefor, and any lessors and landlords who receive any part of the

agricultural or handcraft products produced on the leased premises or of the

sale price of such product as rent. Under the terms and conditions prescribed

in its bylaws, a consumers' cooperative may admit as members any natural

persons, associations, incorporated or unincorporated groups organized on a

cooperative basis, or any nonprofit groups. Under the terms and conditions

prescribed in its bylaws, a railroad cooperative may admit as members, or issue

stock to, any nonprofit organizations, any persons, corporations or

associations who are patrons of its services. (Amended 1973, No. 90, § 3.)