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
002
:
ISSUANCE OF SHARES
(Cite as: 11A V.S.A. § 6.26)
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§ 6.26. Shares without certificates
(a) Unless the articles of incorporation or bylaws require that shares shall be represented
by certificates, the board of directors of a corporation may authorize the issue of
some or all of the shares of any or all of its classes or series without certificates.
The authorization does not affect shares already represented by certificates until
they are surrendered to the corporation.
(b) Within a reasonable time after the issue or transfer of shares without certificates,
and at least annually thereafter, the corporation shall send the shareholder a written
statement of the information required on certificates by subsections 6.25(b) and (c),
and, if applicable, section 6.27 of this title. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)