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: 30 V.S.A. § 515)
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§ 515. Acquisition of control of a company subject to the jurisdiction of the Public Utility
Commission
(a) No person, corporation, partnership, or unincorporated association shall acquire ownership
of greater than 40 percent of the voting securities in a company as defined in subdivision 501(3) of this title subject to the supervision of the Public Utility Commission without the approval
of the Commission after due notice and opportunity for hearing and a finding on its
part that such acquisition will not be contrary to the public good.
(b) For the purposes of this section, voting security means any stock or security presently
entitling the owner or holder to vote in the direction or management of the affairs
of a company or any security issued under or pursuant to any trust, agreement, or
arrangement where a trustee or trustees or agent or agents for the owner or holder
of such a security are presently entitled to vote in the direction or management of
the affairs of a company.
(c) A specified per centum of the outstanding voting securities of such company means
such amount of outstanding voting securities of such company as entitles the holder
or holders thereof to cast said specified per centum of the aggregate votes that the
holders of all the outstanding voting securities of such company are entitled to cast
in the direction or management of the affairs of such company. (Added 1987, No. 271 (Adj. Sess.), § 15, eff. June 21, 1988; amended 1999, No. 157 (Adj. Sess.), § 13; 2023, No. 85 (Adj. Sess.), § 388, eff. July 1, 2024.)