The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 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.
Title 11 : Corporations, Partnerships and Associations
Chapter 005 : Scrip Corporations
(Cite as: 11 V.S.A. § 930)-
§ 930. Borrowing scrip by municipal corporations
All municipal corporations whether incorporated by special act or under general law may borrow scrip from the issuing corporation upon their promissory notes payable both principal and interest in scrip within one year, but not to an amount in any one year greater than one-half the taxes voted or assessed during such year. When such notes are paid, scrip to the amount of such payments shall be retired and not reissued unless against new security.
