Vermont Statutes Title 29 Sec. 1403
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Terms Used In Vermont Statutes Title 29 Sec. 1403
- 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.
- Statute: A law passed by a legislature.
§ 1403. Waiver of immunity by municipal corporations and counties
Notwithstanding the provisions of 12 V.S.A. § 5602 or any other statute, when a municipal corporation purchases a policy of liability insurance under 24 V.S.A. § 1092, and when a county purchases a policy of liability insurance under the provisions of 24 V.S.A. § 131, it waives its sovereign immunity from liability to the extent of the coverage of the policy and consents to be sued. (Added 1959, No. 328 (Adj. Sess.), § 14; amended 1981, No. 213 (Adj. Sess.), § 1; 1989, No. 114, § 7, eff. June 20, 1989.)