2011 Vermont Code
Title 11A Vermont Business Corporations
Chapter 10 AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS
§ 8 Amendment pursuant to judicial reorganization

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TITLE 11A

Vermont Business Corporations

CHAPTER 10. AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS

Subchapter I. Articles of Incorporation

§ 10.08. Amendment pursuant to judicial reorganization

(a) A corporation's articles of incorporation may be amended without action by the board of directors or shareholders to carry out a plan of reorganization ordered or decreed by a court of competent jurisdiction under federal statute if the articles of incorporation after amendment contain only provisions required or permitted by section 2.02 of this title.

(b) The individual or individuals designated by the court shall deliver to the secretary of state for filing articles of amendment setting forth:

(1) the name of the corporation;

(2) the text of each amendment approved by the court;

(3) the date of the court's order or decree approving the articles of amendment;

(4) the title of the reorganization proceeding in which the order or decree was entered; and

(5) a statement that the court had jurisdiction of the proceeding under federal statute.

(c) Shareholders of a corporation undergoing reorganization do not have dissenters' rights except as and to the extent provided in the reorganization plan.

(d) This section does not apply after entry of a final decree in the reorganization proceeding even though the court retains jurisdiction of the proceeding for limited purposes unrelated to consummation of the reorganization plan. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)