Vermont Statutes Title 24 Sec. 1777
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Terms Used In Vermont Statutes Title 24 Sec. 1777
- 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.
§ 1777. Regulations
When a municipal corporation has established or provided a sinking fund for the retirement of a bond issue or other debt, the fund so established or provided shall be kept intact and separate from other monies at the disposal of such corporation, shall be accounted for as a pledged asset for the purpose of retiring such obligations, and shall not be appropriated or used for the current expenses of such corporation.