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Searching 2023-2024 Session

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 11A : Vermont Business Corporations

Chapter 011 : Conversion, Merger, Share Exchange, and Domestication

(Cite as: 11A V.S.A. § 11.09)
  • § 11.09. Share exchange authorized; plan of share exchange

    (a) A corporation may acquire all of the outstanding shares of one or more classes or series of another corporation if the board of directors of each corporation adopts, and its shareholders, if required under section 11.10 of this title, approve a plan of share exchange.

    (b) The plan of share exchange shall be in a record and shall include:

    (1) the name of the corporation whose shares will be acquired and the name of the acquiring corporation; and

    (2) the terms and conditions of the share exchange; including the manner and basis of exchanging the shares to be acquired in exchange for shares of the acquiring corporation or other consideration.

    (c) The plan of share exchange may contain any other provision not prohibited by law. (Added 2015, No. 157 (Adj. Sess.), § E.1, eff. July 1, 2017.)