§ 3 - Amendment proposed by board of directors to the shareholders - Vermont Statutes

§ 2.03. Incorporation

(a) Unless a delayed effective date is specified, the corporate existence begins when the secretary of state issues a certificate of incorporation, after finding that the articles of incorporation conform to law, and that all fees imposed under section 1.22 of this title have been paid.

(b) The secretary of state's filing of the articles of incorporation is conclusive proof that the incorporators satisfied all conditions precedent to incorporation except in a proceeding by the state to cancel or revoke the incorporation or involuntarily dissolve the corporation. (Added 1993, No. 85, § 2, eff. Jan. 1, 1994.)