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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 11 : Corporations, Partnerships and Associations

Chapter 004 : PROFESSIONAL CORPORATIONS

Subchapter 003 : Shares

(Cite as: 11 V.S.A. § 836)
  • § 836. Court costs and fees of experts

    (a) The court, in an appraisal proceeding commenced under section 835 of this title, shall determine all costs of the proceeding, including the reasonable compensation and expenses of appraisers appointed by the court, and shall assess the costs against the professional corporation. But the court may assess costs against the disqualified person or the estate of a deceased shareholder if the court finds the disqualified person or the executor or administrator of the estate of a deceased shareholder acted arbitrarily, vexatiously or not in good faith in refusing to accept the corporation's offer.

    (b) The court may also assess the fees and expenses of counsel and experts for the disqualified person or the estate of a deceased shareholder against the corporation and in favor of the disqualified person or the estate of a deceased shareholder, if the court finds that the fair value of his or her shares substantially exceeded the amount offered by the corporation or that the corporation did not make an offer. (Added 2001, No. 77 (Adj. Sess.), § 1.)