Vermont Statutes Title 30 Sec. 102
Terms Used In Vermont Statutes Title 30 Sec. 102
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- seal: shall include an impression of the official seal made upon paper alone or by means of a wafer or wax affixed thereto. See
§ 102. Petition; hearing; certificate
(a) Before the articles of incorporation are transmitted to the Secretary of State, the incorporators shall petition the Public Utility Commission to determine whether the establishment and maintenance of the corporation will promote the general good of the State and shall at that time file a copy of any petition with the Department. The Department, within 12 days, shall review the petition and file a recommendation regarding the petition in the same manner as is set forth in subsection 225(b) of this title. The recommendation shall set forth reasons why the petition shall be accepted without hearing or shall request that a hearing on the petition be scheduled. If the Department requests a hearing on the petition, or, if the Commission deems a hearing necessary, it shall appoint a time and place either remotely accessible or in the county where the proposed corporation is to have its principal office for hearing the petition. At least 12 days before this hearing, notice of the hearing shall be published on the Commission’s website and once in a newspaper of general circulation in the county in which the proposed corporation is to have its principal office. The website notice shall be maintained through the date of the hearing. The newspaper notice shall include an Internet address where more information regarding the petition may be viewed. The Department of Public Service, through the Director for Public Advocacy, shall represent the public at the hearing.
(b) If the Commission finds that the establishment and maintenance of the proposed corporation will promote the general good of the State, it shall give the incorporators a certificate to that effect under its seal.
(c) For good cause, after an opportunity for hearing, the Commission may amend or revoke any certificate awarded under the provisions of this section. If any such certificate is revoked, the corporation shall no longer have authority to conduct any business that is subject to the jurisdiction of the Commission, whether or not regulation thereunder has been reduced or suspended under section 226a or 227a of this title. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 1979, No. 204 (Adj. Sess.), § 19, eff. Feb. 1, 1981; 1987, No. 87, § 4; 1995, No. 99 (Adj. Sess.), § 2; 2023, No. 33, § 4, eff. July 1, 2023.)