§ 831 - Notice of professional corporation status on shares - Vermont Statutes

§ 831. Notice of professional corporation status on shares

(a) The following statement must appear conspicuously on each share certificate issued by a professional corporation:

"The transfer of shares of a professional corporation is restricted by the Vermont Professional Corporation Chapter, and is subject to further restriction imposed from time to time by the licensing authority. Shares of a professional corporation are also subject to a statutory compulsory repurchase obligation."

(b) Within a reasonable time after the issuance or transfer of uncertificated shares of a professional corporation, the corporation shall send the shareholders a written notice, containing the statement required by subsection (a) of this section. (Added 2001, No. 77 (Adj. Sess.), § 1.)