§ 10202 - License required - Vermont Statutes

§ 10202. License required

(a) Manufacture. Break-open tickets sold in Vermont shall be manufactured only by a person licensed by the commissioner. A licensed manufacturer shall sell break-open tickets only to distributors licensed under this chapter, and a distributor licensed under this chapter shall purchase break-open tickets only from a manufacturer licensed under this chapter.

(b) Distribution. A distributor who sells or distributes break-open tickets for resale in Vermont shall be licensed by the commissioner and also shall be:

(1) a natural person who is a resident of Vermont; or

(2) a partnership in which the majority of partners are residents of Vermont; or

(3) a corporation incorporated under the laws of Vermont provided that a majority of the ownership interest is held by Vermont residents; or

(4) a person, not a resident of Vermont, whose home state allows Vermont residents or corporations to distribute break-open tickets in that state under similar terms and conditions. (Added 1991, No. 267 (Adj. Sess.), § 2, eff. Oct. 1, 1992; amended 1993, No. 183 (Adj. Sess.), § 8.)