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The Vermont Statutes Online

 

Title 11A : Vermont Business Corporations

Chapter 016 : RECORDS AND REPORTS

Subchapter 002 : REPORTS

(Cite as: 11A V.S.A. § 16.21)
  • § 16.21. Other reports to shareholders

    (a) If a corporation indemnifies or advances expenses to a director under section 8.51, 8.52, 8.53, or 8.54 of this title in connection with a proceeding by or in the right of the corporation, the corporation shall report the indemnification or advance in writing to the shareholders with or before the notice of the next shareholders' meeting.

    (b) If a corporation issues or authorizes the issuance of shares for promissory notes, the corporation shall report in writing to the shareholders the number of shares authorized or issued, and the consideration received by the corporation, with or before the notice of the next shareholders' meeting. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)