The Vermont Statutes Online

Title 11: Corporations, Partnerships and Associations

Chapter 14: COOPERATIVE HOUSING OWNERSHIP ACT

11 V.S.A. § 1582. Purpose



§ 1582. Purpose

The purpose of this chapter is to foster creation and preservation of affordable housing in Vermont by enabling individuals to form cooperative housing corporations, including limited equity cooperatives, for the purpose of developing, acquiring, owning and operating housing on a cooperative basis, and by encouraging lending institutions to engage in financing of cooperative housing ownership interests. (Added 1987, No. 254 (Adj. Sess.), § 1, eff. June 16, 1988.)