§ 407.
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/vt/407A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 407. Amendment or restatement of articles of organization; filing
(a)To amend its articles of organization, a mutual benefit enterprise shall deliver to the Secretary of State for filing an amendment of the articles or restated articles of organization or articles of conversion or merger pursuant to article 16 of this title which contain one or more amendments of the articles of organization stating:
(1)the name of the enterprise;
(2)the date of filing of the enterprise’s initial articles; and
(3)the changes the amendment makes to the articles as most recently amended or restated.
(b)Before the beginning of the initial meeting of the board of directors, an organizer who knows that information in the filed articles of organization was inaccurate when the articles were filed or has become inaccurate due to changed circumstances shall promptly:
(1)cause the articles to be amended; or
(2)if appropriate, deliver an amendment to the Secretary of State for filing pursuant to section 203 of this title.
(c)If restated articles of organization are adopted, the restated articles may be delivered to the Secretary of State for filing in the same manner as an amendment.
(d)Upon filing, an amendment of the articles of organization or other record containing an amendment of the articles which has been properly adopted by the members is effective as provided in subsection 203(c) of this title. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)