§ 105. Payment for stock with property; approved by Commission
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 Utility Commission. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 1995, No. 99 (Adj. Sess.), § 5.)
Structure Vermont Statutes
Chapter 3 - Public Service Corporations, Other Than Railroads; Formation, Financing, Eminent Domain
§ 101. Corporations subject to Commission; formation
§ 102. Petition; hearing; certificate
§ 103. Transmission to Secretary of State; record; effect
§ 104. Amendment of articles, certificate by Commission
§ 105. Payment for stock with property; approved by Commission
§ 106. Ownership of stock in other corporations
§ 107. Acquisition of control of one utility company by another; supervision
§ 108. Issue of bonds or other securities
§ 109. Sales and leases; hearings
§ 110. Eminent domain; companies authorized
§ 110a. Inclusion of communications facilities
§ 111. Petition; notice of hearing
§ 111a. Preexisting utility lines
§ 112. Findings; dams; assessment of damages; jury trial
§ 113. Compensation; where party cannot be found
§ 115. Effect of payment of awards
§ 117. Rights acquired and not used
§ 118. Taking burial grounds; condemnation
§ 122. Headstones or monuments erected
§ 126. Saving clause; corporations formed before April 2, 1915