Vermont Statutes Title 11 Sec. 832
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Terms Used In Vermont Statutes Title 11 Sec. 832
- 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.
§ 832. Share transfer restriction
(a) A shareholder of a professional corporation may transfer or pledge shares, fractional shares, and rights or options for the purchase of shares of the corporation only to individuals, and general partnerships qualified under section 830 of this title to be issued shares.
(b) A transfer of shares made in violation of subsection (a) of this section, except one made by operation of law or court judgment, is void. (Added 2001, No. 77 (Adj. Sess.), § 1.)