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Vt. Stat. Ann. tit. 11, § 832

Share transfer restriction

Known as the Vermont Professional Corporation Act

The act spans §§ 11–11 (34 sections).

Added 2001, No. 77 (Adj

(a) A shareholder of a professional corporation may transfer or pledge shares, fractional shares, and rights or options for the purchase of shares of the corporation only to individuals, and general partnerships qualified under section 830 of this title to be issued shares.

(b) A transfer of shares made in violation of subsection (a) of this section, except one made by operation of law or court judgment, is void.

Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.