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.
(Cite as: 9 V.S.A. § 4304)
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§ 4304. Unlawful sales; delivery
It shall be unlawful for any such beneficial owner, director, or officer, directly,
or indirectly, to sell any equity security of the company if the person selling the
security or his or her principal does not own the security sold, or if owning the
security, does not deliver it against the sale within 20 days thereafter, or does
not within five days after the sale deposit it in the mails or other usual channels
of transportation; but no person may be considered to have violated this section if
he or she proves that notwithstanding the exercise of good faith he or she was unable
to make delivery or deposit within that time, or that to do so would cause undue inconvenience
or expense. (Added 1965, No. 88, § 3.)