Legislation


Vt. Stat. Ann. tit. 11A, § 20.10. Merger or consolidation: Close Corporations – Vermont

Status: Enacted
Year Enacted: 1993
File: Download

A plan of merger that if effected would terminate the close corporation status of a corporation shall be approved by a vote of at least two-thirds of the votes of the outstanding shares of such corporation, provided that if any class of shares is entitled to vote as a group, the plan of merger or consolidation shall be approved by the affirmative vote of the holders of at least two-thirds of the outstanding shares of each voting group and the affirmative vote of the holders of at least two-thirds of the total outstanding shares.


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