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The Vermont Statutes Online



Title

11

:
Corporations, Partnerships and Associations






Chapter

007

:
COOPERATIVES






Subchapter

002
:
THE COOPERATIVE MARKETING ACT










 

§

1019. Damages

The bylaws or

the marketing contract may fix, as liquidated damages, a specific sum to be

paid by a member or stockholder to the association upon the breach by him or

her of any provision of the marketing contract regarding the sale or delivery

or withholding of products; and may further provide that the member shall pay

all costs, premiums for bonds, expenses and fees, in case any action is brought

upon the contract by the association. Any such provisions shall be valid and

enforceable in the courts of this state. Such clauses providing for liquidated

damages shall be enforceable as such and shall not be regarded as penalties.