Vermont Statutes Title 11 Sec. 837
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Vermont Statutes Title 11 Sec. 837
- 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.
- 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
§ 837. Cancellation of disqualified shares
If the shares of a disqualified person or the estate of a deceased shareholder are not acquired under section 834 or 835 of this title within 10 months after the death of the shareholder or within five months after the disqualification or transfer, the professional corporation shall immediately cancel the shares on its books, and the disqualified person or the estate of a deceased shareholder has no further interest as a shareholder in the corporation, other than the right to payment of the fair value of the shares under section 834 or 835 of this title. (Added 2001, No. 77 (Adj. Sess.), § 1.)