§ 285 - Capitalization - Vermont Statutes

[Section 285 repealed effective July 1, 2010.]

§ 285. Capitalization

The fund, as and when it deems practicable, may solicit and receive subscriptions provided that subscriptions for amounts exceeding $3,000.00 shall be reduced pro rata among subscribers subscribing for more than $3,000.00 in the event the issue is oversubscribed by such termination date as may be set by the fund. The minimum capitalization shall be one million dollars. (Added 1985, No. 171 (Adj. Sess.), § 1, eff. May 7, 1986; amended 1987, No. 80, § 6, eff. June 9, 1987.)