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: 11 V.S.A. § 805)
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§ 805. Issuance and transfer of shares
A professional corporation may issue the shares of its capital stock only to persons
who are duly licensed to render the same specific professional service as those for
which the corporation was organized. A shareholder may voluntarily transfer his or
her shares in a professional corporation only to a person who is duly licensed to
render the same specific professional services as those for which the corporation
was organized. Any shares issued in violation of this section shall be null and void.
The voluntary transfer of any shares in violation of this section shall be null and
void. No shares may be transferred upon the books of the professional corporation
or issued by it until there is presented to and filed with the corporation a certificate
by the regulating board stating that the person to whom the transfer is to be made
or the shares issued is duly licensed to render the same specific professional services
as those for which the corporation was organized. (1963, No. 218, § 6, eff. July 3, 1963.)