§ 3821 - Transfer; acceptance - Vermont Statutes

§ 3821. Transfer; acceptance

An incorporated academy, institute, seminary, or other educational institution, having no capital stock, by vote of at least two-thirds of the directors, trustees, or other governing body thereof, may authorize the transfer of all of its real and personal property, including trust funds, as hereinafter provided, to the town school district or incorporated school district, in which such academy, institute, seminary, or other educational institution is located. The town school district or incorporated school district, at an annual or special meeting of the legal voters thereof warned for the purpose, may vote to accept the transfer of such real and personal property, including trust funds, as hereinafter provided, to be used for school purposes.