STATE STATUTES & CODES
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VERMONT STATUTES AND CODES
§ 102 - General authority; procedure
§ 102. General authority; procedure
(a) Trustees to whom real or personal property is devised, bequeathed, granted, conveyed or donated for the foundation and establishment of a public library, may, unless otherwise provided by the devisor, grantor or donor of the property, in order to promote the establishment, maintenance and management of the library, form a corporation under the provisions of this section and section 103 of this title.
(b) The trustees may make, sign and acknowledge and file in the office of the secretary of state a statement in writing setting forth the intent of the trustees to form a corporation, a copy of the will or instrument by which the endowment of such library is provided, the name adopted for the corporation, which shall not be the name of a corporation already existing, and the name of the municipality in which the library and the principal place of business of the corporation will be located, the managers who may be designated trustees, managers or directors of such corporation, and the names of the trustees, managers or directors who are to constitute the original board and who shall hold office until their successors are elected and qualified as provided in section 106 of this title.
(c) The secretary of state shall, upon receipt of the statement, issue to the incorporators, under seal, a certificate of which the statement shall be a part, declaring that the organization of the corporation is perfected. The incorporators shall record the certificate in the office of the county clerk of the county in which the library is to be located. Upon recording of the certificate, the corporation shall be deemed fully organized and may proceed to carry out its corporate purposes and receive by conveyance from the trustees the property provided for the endowment of the library. The corporation may hold the property in whatever form it was received or conveyed by the trustees, until that form is changed by action of the corporation. (Amended 1989, No. 28, § 5.)