{"data":{"id":"us-vt/11b-v.s.a.-10.04","jurisdiction":"us-vt","citation":"11B V.S.A. § 10.04","heading":"Class voting by members on amendments","body":"(a) The members of a class in a public benefit corporation are entitled to vote as a class on a proposed amendment to the articles if the amendment would change the rights of that class as to voting in a manner different than such amendment affects another class or members of another class.\n(b) The members of a class in a mutual benefit corporation are entitled to vote as a class on a proposed amendment to the articles if the amendment would:\n(1) affect the rights, privileges, preferences, restrictions, or conditions of that class as to voting, dissolution, redemption, or transfer of memberships in a manner different than such amendment would affect another class;\n(2) change the rights, privileges, preferences, restrictions, or conditions of that class as to voting, dissolution, redemption, or transfer by changing the rights, privileges, preferences, restrictions, or conditions of another class;\n(3) increase or decrease the number of memberships authorized for that class;\n(4) increase the number of memberships authorized for another class;\n(5) effect an exchange, reclassification, or termination of the memberships of that class; or\n(6) authorize a new class of memberships.\n(c) If a class is to be divided into two or more classes as a result of an amendment to the articles, the amendment must be approved by the members of each class that would be created by the amendment.\n(d) If a class vote is required to approve an amendment to the articles, the amendment must be approved by the members of the class by two-thirds of the votes cast by the class or a majority of the voting power of the class, whichever is less.\n(e) A class of members is entitled to the voting rights granted by this section although the articles and bylaws provide that the class may not vote on the proposed amendment.","path":["Title 11B: Nonprofit Corporations","Chapter 010: Amendment of Articles of Incorporation and Bylaws","Subchapter 001: ARTICLES OF INCORPORATION"],"source_url":"https://legislature.vermont.gov/statutes/fullchapter/11B/010","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T16:16:27Z","sha256":"0f120edc17c3ed66252a04b5c3be6c270082d9c93744987d82fc47ba839621a1","source_id":"us-vt","stale":false,"prev":"us-vt/11b-v.s.a.-10.03","next":"us-vt/11b-v.s.a.-10.05"},"notice":"GroundRules: Original legal text. Not legal advice."}