The Vermont Statutes Online
The statutes were updated in November, 2018, and contain all actions of the
2018 legislative session.
§ 20.01. Law applicable
This chapter shall apply only to close corporations organized under this chapter. The provisions of this title other than those set forth in this chapter shall apply to close corporations in the absence of a contrary or inconsistent provision in this chapter. A corporation whose status as a close corporation terminates shall immediately become subject to the obligations and rights of a general corporation as provided in this title. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)