§ 733 - Subsidiary corporations - Vermont Statutes

§ 733. Subsidiary corporations

(a) Whenever any state, political subdivision, municipality, commission, agency, officer, department, board, division or person is authorized and empowered for any of the purposes of this chapter to cooperate and enter into agreements with the authority, the state, political subdivision, municipality, commission, agency, officer, department, board, division or person shall have the same authorization and power to cooperate and enter into agreements with a subsidiary corporation of the authority.

(b) Each subsidiary corporation shall be a body politic and corporate and shall have all those powers vested in the authority by the provisions of this chapter which the authority shall determine to include in its certificate of incorporation, except the power to contract indebtedness. (Added 1973, No. 14, § 2, eff. Feb. 23, 1973.)