The Vermont Statutes Online

Title 11: Corporations, Partnerships and Associations

Chapter 14: COOPERATIVE HOUSING OWNERSHIP ACT

11 V.S.A. § 1587. Perfection of security interests in cooperative interests



§ 1587. Perfection of security interests in cooperative interests

(a) A security interest in a cooperative interest shall attach, be perfected, and be enforceable as provided in 9A V.S.A. Article 9.

(b) On request of a secured party, a cooperative housing corporation shall note on its books and records the interest of the secured party in a cooperative interest. No such request or notation is required in order to perfect a security interest in a cooperative interest. (Added 1987, No. 254 (Adj. Sess.), § 1, eff. June 16, 1988.)