§832. Share transfer restriction

Link to law: http://legislature.vermont.gov/statutes/section/11/004/00832
Published: 2015

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The Vermont Statutes Online



Title

11

:
Corporations, Partnerships and Associations






Chapter

004

:
PROFESSIONAL CORPORATIONS






Subchapter

003
:
SHARES










 

§

832. Share transfer restriction

(a) A

shareholder of a professional corporation may transfer or pledge shares,

fractional shares, and rights or options for the purchase of shares of the

corporation only to individuals, and general partnerships qualified under

section 830 of this title to be issued shares.

(b) A transfer

of shares made in violation of subsection (a) of this section, except one made

by operation of law or court judgment, is void. (Added 2001, No. 77 (Adj.

Sess.), § 1.)
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