Vermont Statutes Title 29 Sec. 1404
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Terms Used In Vermont Statutes Title 29 Sec. 1404
- 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.
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
§ 1404. Judgments, maximum liability of municipal corporations and counties
Upon trial of any action in which sovereign immunity has been waived, as provided in section 1403 of this title, a judgment shall not be rendered against a municipal corporation or county for more than the maximum amount of liability insurance carried by it and applicable to the subject matter of the action. (Added 1959, No. 328 (Adj. Sess.), § 14; amended 1989, No. 114, § 8, eff. June 20, 1989.)