§ 3027.
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/vt/title-30/chapter-81/3027A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 3027. Dissolution—Cooperative not commencing business
A cooperative that has not commenced business may be dissolved by delivering to the Secretary of State a certificate of dissolution, which shall be executed and acknowledged on behalf of the cooperative by a majority of the incorporators and that shall state:
(1)the name of the cooperative;
(2)the address of its principal office;
(3)that the cooperative has not commenced business;
(4)that any sums received by the cooperative, less any part thereof disbursed for expenses of the cooperative, have been returned or paid to those entitled to them;
(5)that no debt of the cooperative is unpaid; and
(6)that a majority of the incorporators elect that the cooperative be dissolved. (Amended 2023, No. 85 (Adj. Sess.), § 423, eff. July 1, 2024.)