Vermont Statutes Title 11 Sec. 921
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Vermont Statutes Title 11 Sec. 921
- 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.
- Scrip: as used in this chapter includes certificates having no fixed maturity, transferable by delivery, and payable to bearer in lawful currency when realized out of the assets pledged to secure such scrip. See
§ 921. General provisions
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 issuing scrip and to provide security therefor and to do all things necessary or convenient thereto.