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The Vermont Statutes Online

 

Title 11B : Nonprofit Corporations

Chapter 014 : DISSOLUTION

Subchapter 003 : JUDICIAL DISSOLUTION

(Cite as: 11B V.S.A. § 14.31)
  • § 14.31. Procedure for judicial dissolution

    (a) Venue for a proceeding by the Attorney General to dissolve a corporation lies in the Superior Court of Washington County. Venue for a proceeding brought by any other party named in section 14.30 of this title lies in the county where a corporation's principal office (or, if none in this State, its registered office) is or was last located.

    (b) It is not necessary to make directors or members parties to a proceeding to dissolve a corporation unless relief is sought against them individually.

    (c) A court in a proceeding brought to dissolve a corporation may issue injunctions, appoint a receiver or custodian pendente lite with all powers and duties the court directs, take other action required to preserve the corporate assets wherever located, and carry on the activities of the corporation until a full hearing can be held.

    (d) A person other than the Attorney General who brings an involuntary dissolution proceeding for a public benefit corporation shall forthwith give written notice of the proceeding to the Attorney General who may intervene. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)