{"data":{"id":"us-vt/11a-v.s.a.-21.05","jurisdiction":"us-vt","citation":"11A V.S.A. § 21.05","heading":"Election of existing corporation to become a benefit corporation","body":"Any corporation organized under this title may become a benefit corporation by amending its articles of incorporation to add the statement required by subdivision 21.03(a)(1) of this title to meet the definition of a benefit corporation. The amendment shall be adopted and shall become effective in accordance with sections 10.01 through 10.09 of this title, except that:\n(1) the notice of the meeting of shareholders that will approve the amendment shall include a statement from the board of directors of the reasons why the board is proposing the amendment and the anticipated effect on shareholders of becoming a benefit corporation; and\n(2) the amendment shall be approved by the higher of:\n(A) the vote required by the articles of incorporation; or\n(B) two-thirds of the votes entitled to be cast by the outstanding shares of the corporation, provided that if any class of shares is entitled to vote as a group, approval shall also require the affirmative vote of the holders of at least two-thirds of the votes entitled to be cast by the outstanding shares of each voting group.","path":["Title 11A: Vermont Business Corporations","Chapter 021: Benefit Corporations"],"source_url":"https://legislature.vermont.gov/statutes/fullchapter/11A/021","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T16:11:27Z","sha256":"5e5b0b655815e0ff832ebe5b6bb4e40892107b3be37bb06177b62afc5c5a3a09","source_id":"us-vt","stale":false,"prev":"us-vt/11a-v.s.a.-21.04","next":"us-vt/11a-v.s.a.-21.06"},"notice":"GroundRules: Original legal text. Not legal advice."}