Vermont Statutes Title 31 Sec. 1202
Terms Used In Vermont Statutes Title 31 Sec. 1202
- Commissioner: means the Commissioner of Liquor and Lottery. 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.
- Distributor: means a person that purchases break-open tickets from a manufacturer and sells or distributes break-open tickets at wholesale in Vermont. See
- Manufacturer: means a person that designs, assembles, fabricates, produces, constructs, or otherwise prepares a break-open ticket for sale to a distributor. See
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
- 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
§ 1202. License required
(a) Manufacture. Break-open tickets sold in Vermont shall be manufactured only by a person licensed by the Commissioner. A licensed manufacturer shall sell break-open tickets only to distributors licensed under this chapter. A distributor licensed under this chapter shall purchase break-open tickets only from a manufacturer licensed under this chapter.
(b) Distribution. A distributor who sells or distributes break-open tickets for resale in Vermont shall be licensed by the Commissioner and shall also be:
(1) a natural person who is a resident of Vermont;
(2) a partnership in which the majority of partners are residents of Vermont;
(3) a corporation incorporated under the laws of Vermont, provided that a majority of the ownership interest is held by residents of Vermont; or
(4) a person who is not a resident of Vermont and whose state of residence allows residents or corporations of Vermont to distribute break-open tickets in that state under similar terms and conditions as provided under this chapter. (Added 2017, No. 73, § 13, eff. Sept. 1, 2017.)