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Vt. Stat. Ann. tit. 11, § 832

Share transfer restriction

Showing this section's text as in effect on July 1, 2021 (in force July 1, 2021 – June 1, 2022). View current text →

(1) 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.

(2) 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. Added 2001, No. 77 (Adj. Sess.), § 1.

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