Terms Used In Vermont Statutes > Title 11B > Chapter 14 > Subchapter 1 - Voluntary Dissolution

• Agency: means the Vermont Agency of Natural Resources. See
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• articles: include amended and restated articles of incorporation and articles of merger. See
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• board of directors: means the board of directors except that no person or group of persons are the board of directors because of powers delegated to that person or group pursuant to section 8. See
• Bylaws: means the code or codes of rules (other than the articles) adopted pursuant to this title for the regulation or management of the affairs of the corporation, stored or depicted in any tangible or electronic medium, and irrespective of the name or names by which such rules are designated. See
• Class: refers to a group of memberships which have the same rights with respect to voting, dissolution, redemption, and transfer. See
• 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.
• Corporation: means public benefit and mutual benefit corporation. See
• Directors: means individuals, designated in the articles or bylaws or elected by the incorporators, and their successors and individuals elected or appointed by any other name or title to act as members of the board. See
• Distribution: means the payment of a dividend or any part of the income or profit of a corporation to its members, directors, or officers. See
• Elemental mercury: means the chemical symbol Hg. See
• filing: means filed in the Office of the Secretary of State. See
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Formulated mercury-added product: means a product that is sold as a consistent mixture of chemicals to which mercury or a mercury compound has been intentionally added in order to provide a specific characteristic, appearance, or quality, or to perform a specific function, or for any other reason. See
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Manufacturer: means any person, firm, association, partnership, corporation, governmental entity, organization, combination, or joint venture that:

• Meeting: means any structured communications conducted by participants in person or through the use of an electronic or telecommunications medium permitting simultaneous or sequentially structured communications. See
• Member: means (without regard to what a person is called in the articles or bylaws) any person or persons who on more than one occasion, pursuant to a provision of a corporation's articles or bylaws, have the right to vote for the election of a director or directors. See
• Membership: refers to the rights and obligations a member or members have pursuant to a corporation's articles, bylaws, and this title. See
• Mercury-containing thermostat: includes thermostats used to sense and control room temperature in residential, commercial, industrial, and other buildings but does not include a thermostat used to sense and control temperature as part of a manufacturing process. See
• Mutual benefit corporation: means a domestic corporation which is required to be a mutual benefit corporation pursuant to section 17. See
• Person: includes any individual or entity. See
• Person: means any individual, corporation, partnership, cooperative, association, firm, sole proprietorship, governmental agency, or other entity. See
• Principal office: means the office (in or outside this State) so designated in the biennial report filed pursuant to section 16. See
• Proceeding: includes civil suit and criminal, administrative, and investigatory action. See
• Public benefit corporation: means a domestic corporation which is required to be a public benefit corporation pursuant to section 17. See
• Quorum: The number of legislators that must be present to do business.
• Secretary: means the corporate officer to whom the board of directors has delegated responsibility under subsection 8. See
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• Thermostat retailer: means a person who sells thermostats of any kind directly to homeowners or other nonprofessionals through any selling or distribution mechanism, including sales using the Internet or catalogues. See
• Thermostat wholesaler: means a person that is engaged in the distribution and wholesale sale of heating, ventilation, and air-conditioning components to contractors who install heating, ventilation, and air-conditioning components. See
• Vote: includes authorization by written ballot and written consent. See
• Voting power: means the total number of votes entitled to be cast for the election of directors at the time the determination of voting power is made, excluding a vote which is contingent upon the happening of a condition or event that has not occurred at the time. See