Vermont Statutes > Title 11A > Chapter 6 > Subchapter 1 – Shares
Current as of: 2022 | Check for updates | Other versions
|§ 6.01||Authorized shares|
|§ 6.02||Terms of class or series determined by board of directors|
|§ 6.03||Issued and outstanding shares|
|§ 6.04||Fractional shares|
Terms Used In Vermont Statutes > Title 11A > Chapter 6 > Subchapter 1 - Shares
- Agency: means the Agency of Natural Resources. See
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Articles of incorporation: include amended and restated articles of incorporation, articles of merger, and special charters. See
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Best management practices: means approved activities, maintenance procedures, and other practices to prevent or reduce the effects of impervious surface or cleared area on water quality and natural resources. See
- Cleared area: means an area where existing vegetative cover, soil, tree canopy, or duff is permanently removed or altered. See
- 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.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Dependent: A person dependent for support upon another.
- Duff: means leaf litter plus small fragments of plants and organic debris that provide a spongy substrate that absorbs the energy of falling water and allows runoff to infiltrate soil. See
- Expansion: means an increase or addition of impervious surface or cleared area. See
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Impervious surface: means those manmade surfaces, including paved and unpaved roads, parking areas, roofs, driveways, and walkways, from which precipitation runs off rather than infiltrates. See
- Lake: means a body of standing water, including a pond or a reservoir, which may have natural or artificial water level control. See
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mean water level: means the mean water level of a lake as defined in the Mean Water Level Rules of the Agency of Natural Resources adopted under 29 V. See
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
- Parcel: means a portion of land or a tract of land with defined boundaries created by dividing the land by sale, gift, lease, mortgage foreclosure, court-ordered partition or decree, or filing of a plat, plan, or deed in the records of the municipality where the act of division occurred. See
- Person: includes individual and entity. See
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- Private road: means a road or street other than a highway, as that term is defined in 19 V. See
- Project: means an act or activity that results in cleared area or the creation of impervious surface in a protected shoreland area. See
- Protected shoreland area: means all land located within 250 feet of the mean water level of a lake that is greater than 10 acres in surface area. See
- road: shall include bridges thereon and their approaches. See
- Secretary: means the corporate officer to whom the board of directors has delegated responsibility under subsection 8. See
- Secretary: means the Secretary of Natural Resources or the Secretary's duly authorized representative. See
- Shareholder: means the person in whose name shares are registered in the records of a corporation or upon presentation for registration are entitled to be registered in the records of a corporation. See
- Slope: means the vertical rise divided by the horizontal run of a plane expressed as a percentage. See
- 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
- Stormwater runoff: means precipitation and snowmelt that does not infiltrate into the soil, including material dissolved or suspended in it, but does not include discharges from undisturbed natural terrain or wastes from combined sewer overflows. See
- Vegetative cover: means mixed vegetation within the protected shoreland area, consisting of trees, shrubs, groundcover, and duff. See