Vermont Statutes Title 11 Sec. 820
Terms Used In Vermont Statutes Title 11 Sec. 820
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 820. Election of professional corporation status
(a) One or more persons may incorporate a professional corporation by delivering to the Secretary of State for filing articles of incorporation that state:
(1) it is a professional corporation; and
(2) its purpose is to render the specified professional service.
(b) A corporation incorporated under a general law of this State may elect professional corporation status by amending its articles of incorporation to comply with subsection (a) of this section and 11A Vt. Stat. Ann. chapter 10. (Added 2001, No. 77 (Adj. Sess.), § 1.)
Vermont Statutes Title 11 Sec. 820
Terms Used In Vermont Statutes Title 11 Sec. 820
§ 820. Other considerations of directors
In determining what the director reasonably believes to be in the best interests of the enterprise, a director may consider:
(1) the interests of the enterprise’s employees, suppliers, creditors, and customers;
(2) the economy of the State, region, nation, and community, and societal considerations, including those of any community in which any offices or facilities of the enterprise are located; and
(3) any other factors the director in his or her discretion reasonably considers appropriate in determining what he or she reasonably believes to be in the best interests of the enterprise and the long-term and short-term interests of the enterprise and its members, including the possibility that these interests may be best served by the continued independence of the enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)