The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
001
:
FORMATION
(Cite as: 8 V.S.A. § 3308)
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§ 3308. List of stockholders; certificate to transact business; liability of president and
directors
When the entire capital stock of a corporation having capital stock has been issued,
a complete list of the stockholders with the name and post office address of each
and the number of shares held by each shall be filed with the Commissioner, who shall
examine the corporation. If, after such examination, it appears that the whole capital
stock has been paid in cash, and the Commissioner has considered the criteria in section
3361 of this chapter, the Commissioner shall issue a certificate under his or her
seal authorizing the corporation to begin the transaction of business, which shall
be filed with the Secretary of State. A corporation having capital stock shall not
begin the transaction of business until the certificate has been issued and filed.
If a corporation commences business before a certificate is issued and filed, the
president and directors assenting thereto are personally liable for all debts incurred
before the certificate is issued and filed. (Amended 1967, No. 344 (Adj. Sess.), § 1 (ch. 1, subch. 1, § 8); 2015, No. 15, § 1, eff. May 1, 2015.)