Terms Used In Vermont Statutes > Title 5 > Chapter 66 - Consolidation and Merger

• agreement: means one or more of the following:

• Appraisal: A determination of property value.
• Board of Liquor and Lottery: means the board of control appointed under the provisions of chapter 5 of this title. See
• Certificate of approval: means an authorization by the Board of Liquor and Lottery pursuant to section 274 of this title to a manufacturer or distributor of malt beverages, vinous beverages, or ready-to-drink spirits beverages not licensed under the provisions of this title, to sell those beverages to holders of a packager's or wholesale dealer's license issued by the Board pursuant to section 272 or 273 of this title. See
• Certificate of approval holder: means a holder of a certificate of approval issued by the Board of Liquor and Lottery pursuant to section 274 of this title that produces or distributes a total annual volume of not more than 50,000 barrels of malt beverages and whose products comprise three percent or less of a wholesale dealer's total annual sales of malt beverages by volume. 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.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Franchise: means a written agreement governing a relationship between a wholesale dealer and a certificate of approval holder or manufacturer that has existed for at least one year and has one or more of the following characteristics:

• 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}
• Malt beverages: means all fermented beverages of any name or description manufactured for sale from malt, wholly or in part, or from any malt substitute, known as, among other things, beer, ale, or lager, containing not less than one percent nor more than 16 percent alcohol by volume at 60 degrees Fahrenheit. See
• Manufacturer: means a manufacturer licensed pursuant to section 271 of this title that produces a total annual volume of not more than 50,000 barrels of malt beverages and whose products comprise three percent or less of a wholesale dealer's total annual sales of malt beverages by volume. See
• Total annual sales: means the total volume of all malt beverages sold by a wholesale dealer in the last four completed calendar quarters. See
• Total annual volume: means :

• Wholesale dealer: means a packager licensed pursuant to section 272 of this title or a wholesale dealer licensed pursuant to section 273 of this title. See