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No liability as director for mutual benefit enterprise’s obligations

11C V.S.A. § 8-802
in effect
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802. No liability as director for mutual benefit enterprise’s obligations A debt, obligation, or other liability of a mutual benefit enterprise is solely that of the enterprise and is not a debt, obligation, or liability of a director solely by reason of being a director. An individual is not personally liable, directly or indirectly, for an obligation of an enterprise solely by reason of being a director. Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.
Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/section/11C/008/00802Fetched: 10/21/2026

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