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Vt. Stat. Ann. tit. 30, § 105

Payment for stock with property; approved by Commission

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

When stock is issued for property other than cash, the value of the property fixed by the incorporators or stockholders must receive the approval of the Public Utility Commission.

Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 1995, No. 99 (Adj. Sess.), § 5.

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