§ 4362 - Commissioner's approval required - Vermont Statutes

§ 4362. Commissioner's approval required

The commissioner may require the incorporators of such association to include in their proposed certificate of incorporation such lawful provisions for the regulation of the affairs of the association and the definition of its powers and the powers of its officers, directors, and incorporators as shall satisfy the commissioner that it is well designed and wisely adapted to its proposed purposes. When such a certificate in form and substance acceptable to the commissioner has been approved by and filed with the secretary of state, the incorporators shall forthwith cause copies thereof to be filed in the office of the commissioner and of the commissioner of labor. (Amended 2005, No. 103 (Adj. Sess.), § 3, eff. April 5, 2006.)