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2005 Vermont Code - § 105. — Payment for stock with property; approved by public service board

§ 105. Payment for stock with property; approved by public service board

When stock is issued for property other than cash, the value of the property fixed by the incorporators or stockholders must receive the approval of the public service board. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 1995, No. 99 (Adj. Sess.), § 5.)

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