11A V.S.A. § 3.01
This is the official text of 11A V.S.A. § 3.01, part of Vermont’s V.S.A — part of the compiled statutory law of Vermont, published by the state as "V.S.A." Browse the sections below, each linked to its official government source.
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§ 3.01. Purposes
Official statutory text
(a) Every corporation incorporated under this title has the purpose of engaging in any lawful business unless a more limited purpose is set forth in the articles of incorporation.
(b) A corporation engaging in a business that is subject to regulation under another statute of this State may incorporate under this title only if permitted by, and subject to all limitations of, the other statute, including:
(1) banks, savings and loan associations, credit unions, and other financial institutions regulated under Title 8;
(2) insurance companies regulated under Title 8;
(3) public service utilities regulated under Title 30;
(4) railroad companies regulated under Title 19; and
(5) professional corporations under 11 V.S.A. chapter 3 or 4.
(b) A corporation engaging in a business that is subject to regulation under another statute of this State may incorporate under this title only if permitted by, and subject to all limitations of, the other statute, including:
(1) banks, savings and loan associations, credit unions, and other financial institutions regulated under Title 8;
(2) insurance companies regulated under Title 8;
(3) public service utilities regulated under Title 30;
(4) railroad companies regulated under Title 19; and
(5) professional corporations under 11 V.S.A. chapter 3 or 4.
Status: in_force · Read it on the official government site
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