Vermont Statutes Title 30 Sec. 101
Terms Used In Vermont Statutes Title 30 Sec. 101
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
§ 101. Corporations subject to commission; formation
(a) Subject to the additional or varied requirements of this chapter, a corporation may be formed pursuant to the provisions of the general corporation law for the sole purpose of conducting any one or more of the kinds of business, other than a railroad business, that are subject to regulation by the Public Utility Commission.
(b) Unless the context clearly requires otherwise, references in this title to a “corporation” mean and include an individual, partnership, association, corporation, limited liability company, municipality, cooperative, and any other legally recognized entity or person.
(c) Unless the context clearly requires otherwise, references in this title to “articles of incorporation” mean and include articles of organization, partnership agreements, or other documentation submitted to the Vermont Secretary of State to register or form a business. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 2023, No. 33, § 2, eff. July 1, 2023.)