{"data":{"id":"us-vt/11-v.s.a.-1086","jurisdiction":"us-vt","citation":"11 V.S.A. § 1086","heading":"Members’ membership shares; fees; rights and responsibilities","body":"(a) The articles of incorporation or the bylaws shall establish qualifications and the method of acceptance of members. No person may be accepted as a member unless employed by the worker cooperative on a regular full-time or a part-time basis. The membership of a worker cooperative shall constitute at least 50 and one-tenth percent of the regular, full and part- time work force.\n(b) A worker cooperative shall issue a class of voting stock designated as “membership shares.” Each member shall own only one such membership share, and only members may own such shares.\n(c) Membership shares shall be issued for a fee determined from time to time by the directors. A worker cooperative may allow for payment of such fee by payroll deduction, installments, or similar methods. A membership share may be issued to a person upon acceptance for membership regardless of whether the membership fee is fully paid.\n(d) [Repealed.]\n(e) Members of a worker cooperative shall have all the rights and responsibilities of stockholders as a corporation organized under Title 11A, except as otherwise provided in this chapter.","path":["Title 11: Corporations, Partnerships and Associations","Chapter 008: Worker Cooperative Corporations"],"source_url":"https://legislature.vermont.gov/statutes/section/11/008/01086","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T15:55:21Z","sha256":"29aad349437928536285bf4f063aeee0e3ef9fcb8ef1153f050d0ddda99056e5","source_id":"us-vt","stale":false,"prev":"us-vt/11-v.s.a.-1085","next":"us-vt/11-v.s.a.-1087"},"notice":"GroundRules: Original legal text. Not legal advice."}