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The Vermont Statutes Online
Title
11
:
Corporations, Partnerships and Associations
Chapter
005
:
SCRIP CORPORATIONS
§
929. Redemption right
If scrip is
issued in return for bonds of this state or of the United States, the issuing
corporation shall give a receipt for such bonds. Within the time named in such
receipt and under such rules as the commissioner may prescribe, the holder of
such receipt may present the same together with scrip to the amount advanced,
or lawful money to the amount named therein, and receive the bonds named in
such receipt, exclusive of accrued interest on such bonds from date of deposit to
date of maturity. Such redemption right shall not extend for more than one year
unless renewed with the consent of the commissioner.