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Terms Used In Vermont Statutes Title 18 Sec. 5432

  • 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.

§ 5432. Organization and operation

Such corporation shall be organized, and the affairs of the corporation shall be governed and controlled under the provisions of 11 Vt. Stat. Ann. chapter 1, under those sections thereof which provide for the organization and management of corporations not for profit.