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
:
PROCEDURE FOR EXERCISE OF DISSENTERS' RIGHTS
(Cite as: 11A V.S.A. § 13.22)
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§ 13.22. Dissenters’ notice
(a) If proposed corporate action creating dissenters’ rights under section 13.02 of this title is authorized at a shareholders’ meeting, the corporation shall deliver a written
dissenters’ notice to all shareholders who satisfied the requirements of section 13.21 of this title.
(b) The dissenters’ notice must be sent no later than 10 days after the corporate action
was taken, and must:
(1) state where the payment demand must be sent and where and when certificates for certificated
shares must be deposited;
(2) inform holders of uncertificated shares to what extent transfer of the shares will
be restricted after the payment demand is received;
(3) supply a form for demanding payment that includes the date of the first announcement
to news media or to shareholders of the terms of the proposed corporate action and
requires that the person asserting dissenters’ rights certify whether or not the person
acquired beneficial ownership of the shares before that date;
(4) set a date by which the corporation must receive the payment demand, which date may
not be fewer than 30 nor more than 60 days after the date the subsection (a) notice
is delivered; and
(5) be accompanied by a copy of this chapter. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)