{"data":{"id":"us-vt/11c-v.s.a.-803","jurisdiction":"us-vt","citation":"11C V.S.A. § 803","heading":"Qualifications of directors","body":"(a) Unless the organic rules otherwise provide, and subject to subsection (c) of this section, each director of a mutual benefit enterprise shall be an individual who is a member of the enterprise or an individual who is designated by a member that is not an individual for purposes of qualifying and serving as a director. Initial directors need not be members.\n(b) Unless the organic rules otherwise provide, a director may be an officer or employee of the mutual benefit enterprise.\n(c) If the organic rules provide for nonmember directors, the number of nonmember directors may not exceed:\n(1) one if there are two through four directors;\n(2) two if there are five through eight directors; or\n(3) one-third of the total number of directors if there are at least nine directors.\n(d) The organic rules may provide qualifications for directors in addition to those in this section.","path":["Title 11C: Mutual Benefit Enterprises","Chapter 008: Directors and Officers"],"source_url":"https://legislature.vermont.gov/statutes/section/11C/008/00803","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T16:24:27Z","sha256":"f69159b1b4ca7b9ff0fc4fe38ef43bb300420827306eaeff106e908398e9d901","source_id":"us-vt","stale":false,"prev":"us-vt/11c-v.s.a.-802","next":"us-vt/11c-v.s.a.-804"},"notice":"GroundRules: Original legal text. Not legal advice."}