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
001
:
SHARES
(Cite as: 11A V.S.A. § 6.03)
-
§ 6.03. Issued and outstanding shares
(a) A corporation may issue the number of shares of each class or series authorized by
the articles of incorporation. Shares that are issued are outstanding shares until
they are reacquired, redeemed, converted, or cancelled.
(b) The reacquisition, redemption, or conversion of outstanding shares is subject to the
limitations of subsection (c) of this section and to section 6.40 of this title.
(c) At all times that shares of the corporation are outstanding, one or more shares that
together have unlimited voting rights and one or more shares that together are entitled
to receive the net assets of the corporation upon dissolution must be outstanding. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)