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
002
:
THE COOPERATIVE MARKETING ACT; COOPERATIVE ASSOCIATIONS
(Cite as: 11 V.S.A. § 1022)
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§ 1022. Payment in stock
When an association with preferred capital stock shall purchase the stock or any property
or interest, it may discharge the obligation so incurred, wholly or in part, by exchanging
for the acquired interest shares of its preferred capital stock to an amount which
at par value would equal the fair market value of the stock, property, or interest
so purchased, as determined by the board of directors. In that case the transfer to
the association of the stock or interest purchased shall be equivalent to payment
in cash for the shares of stock issued.