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.
(Cite as: 27A V.S.A. § 4-102)
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§ 4-102. Liability for public offering statement requirements
(a) Except as otherwise provided in subsection (b) of this section, a declarant shall
prepare a public offering statement conforming to the requirements of sections 4-103, 4-104, 4-105, and 4-106 of this title before offering any interest in a unit to the public.
(b) A declarant may transfer responsibility for preparation of all or a part of the public
offering statement to a successor declarant or to a dealer who intends to offer units
in the common interest community. In the event of any such transfer, the transferor
shall provide the transferee with any information necessary to enable the transferee
to fulfill the requirements of subsection (a) of this section.
(c) Any declarant or dealer who offers a unit to a purchaser shall deliver a public offering
statement in the manner prescribed in subsection 4-103(a) of this title. The declarant who prepared all or a part of the public offering statement is liable
under section 4-117 of this title for any false or misleading statement stated in it or for any omission of material
fact therefrom.
(d) If a unit is part of a common interest community and is part of any other real estate
regime in connection with the sale of which the delivery of a public offering statement
is required under the laws of this state, a single public offering statement conforming
to the requirements of sections 4-103, 4-104, 4-105, and 4-106 of this title, as they relate to each regime in which the unit is located, and to any other requirements
imposed by law may be prepared and delivered in lieu of providing two or more public
offering statements. (Added 1997, No. 104 (Adj. Sess.), § 3, eff. Jan. 1, 1999; amended 2009, No. 155 (Adj. Sess.), § 43, eff. Jan. 1, 2012.)