| 1 | | - | BILLASPASSEDBYTHEHOUSE H.243 |
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| 2 | | - | 2025 Page1of227 |
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| 3 | | - | H.243 |
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| 4 | | - | SHORTFORM |
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| 5 | | - | IntroducedbyRepresentativesMarcotteofCoventry,GraningofJericho,and |
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| 6 | | - | WhiteofBethel |
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| 7 | | - | ReferredtoCommitteeon |
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| 8 | | - | Date: |
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| 9 | | - | Subject:Corporations;partnershipsandassociations |
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| 10 | | - | Statementofpurposeofbillasintroduced:Thisbillproposestomake |
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| 11 | | - | technicalandstylisticchangestoVermont’slawsregulatingbusiness |
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| 12 | | - | organizationsinadditiontochangesaimedatreducingfraudulentbusiness |
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| 13 | | - | filingswiththeSecretaryofState. |
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| 14 | | - | Anactrelatingtotheregulationofbusinessorganizations |
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| 15 | | - | ItisherebyenactedbytheGeneralAssemblyoftheStateofVermont: |
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| 16 | | - | (TEXTOMITTEDINSHORT-FORMBILLS) |
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| 17 | | - | ***UpdatestoTitle3language*** |
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| 18 | | - | Sec.1.3V.S.A.§ 102aisamendedtoread: |
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| 19 | | - | § 102a.FACSIMILESIGNATUREOFSECRETARYOFSTATE |
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| 20 | | - | AfacsimileofthesignatureoftheSecretaryofStateimprintedbyorathis |
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| 21 | | - | orhertheSecretary’sdirectionuponanycertificationissuedunderTitle11or |
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| 22 | | - | 1 |
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| 23 | | - | 2 |
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| 24 | | - | 3 |
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| 25 | | - | 4 |
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| 29 | | - | 8 |
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| 30 | | - | 9 |
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| 33 | | - | 12 |
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| 34 | | - | 13 |
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| 35 | | - | 14 BILLASPASSEDBYTHEHOUSE H.243 |
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| 36 | | - | 2025 Page2of227 |
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| 37 | | - | 11Apursuanttolaw,uponanyattestationrequiredoftheSecretarybylaw,or |
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| 38 | | - | uponanycertificationofofficialdocumentsorrecordsofwhichtheSecretary |
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| 39 | | - | iscustodian,shallhavethesamevalidityastheSecretaryofState’swritten |
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| 40 | | - | signature. |
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| 41 | | - | Sec.2.3V.S.A.§ 133isamendedtoread: |
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| 42 | | - | § 133.BUSINESSREGISTRATION |
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| 43 | | - | Whenprofessionalservicesarerequiredbylawtobeperformedinorbya |
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| 44 | | - | businessentityregisteredwiththeOffice,thebusinessentityshall: |
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| 45 | | - | (1)registerwiththeCorporationsBusinessServicesDivisionofthe |
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| 46 | | - | OfficeoftheSecretaryofState,ifrequiredbylaw;and |
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| 47 | | - | *** |
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| 48 | | - | ***UpdatestoTitle11language*** |
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| 49 | | - | Sec.3.11V.S.A.chapter7isamendedtoread: |
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| 50 | | - | CHAPTER7.COOPERATIVESGENERALCOOPERATIVE |
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| 51 | | - | CORPORATIONSANDCOOPERATIVEASSOCIATIONS |
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| 52 | | - | Subchapter1.ProvisionsRelatingtoCooperativesFormedUnderGeneral |
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| 53 | | - | CorporationLawGeneralCooperativeCorporations |
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| 54 | | - | §981.GENERALCOOPERATIVECORPORATION;USEOF |
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| 55 | | - | “COOPERATIVE” |
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| 56 | | - | AcorporationformedunderTitle11Ashallnothavetheword |
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| 57 | | - | “cooperative”oranyabbreviationthereofaspartofitsname,unlessthe BILLASPASSEDBYTHEHOUSE H.243 |
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| 58 | | - | 2025 Page3of227 |
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| 59 | | - | corporationisaworkercooperativecorporationorganizedunderchapter8of |
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| 60 | | - | thistitle,acooperativehousingcorporationorganizedunderchapter14ofthis |
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| 61 | | - | title,ortheageneralcooperativecorporationthatincludesinitsarticlesof |
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| 62 | | - | incorporationcontainallofthefollowingprovisions: |
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| 63 | | - | *** |
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| 64 | | - | Subchapter2.TheCooperativeMarketingAct;CooperativeAssociations |
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| 65 | | - | §991.DEFINITIONS |
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| 66 | | - | InAsusedinthissubchapter,unlessthecontextorsubjectmatterotherwise |
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| 67 | | - | requires: |
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| 68 | | - | (1)“Agriculturalproducts”includeshorticultural,viticultural,forestry, |
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| 69 | | - | dairy,livestock,poultry,bee,andanyfarmproducts. |
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| 70 | | - | (2)“Association”meansanycorporationnonprofitcooperative |
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| 71 | | - | associationorganizedunderthischapter. |
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| 72 | | - | (3)“Associations”organizedhereundermeansnonprofitcooperative |
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| 73 | | - | associations. |
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| 74 | | - | (4)“Consumers’cooperative”meansacorporationanassociation |
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| 75 | | - | organizedunderthischapterfortheacquisitionanddistributionforthebenefit |
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| 76 | | - | ofultimateconsumersofproperty,goods,commodities,orservices. |
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| 77 | | - | (5)“Handcraftproduct”meansanyproductfashionedprimarilyby |
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| 78 | | - | handwiththefinalformanditscharacteristicsshapedbyhandandproduced BILLASPASSEDBYTHEHOUSE H.243 |
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| 79 | | - | 2025 Page4of227 |
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| 80 | | - | inthehomeorasmallcraftcenterbytheartisanorcraftsmaninaskilledor |
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| 81 | | - | artisticprocessratherthaninanassemblylinetechnique. |
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| 82 | | - | (6)“Marketingcooperative”meansacorporationanassociation |
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| 83 | | - | organizedunderthischapterforthemarketingofagriculturalorhandcraft |
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| 84 | | - | products. |
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| 85 | | - | (7)“Member”includesactualmembersofassociationswithoutcapital |
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| 86 | | - | stockandholdersofcommonstockinassociationsorganizedwithcapital |
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| 87 | | - | stock. |
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| 88 | | - | (8)“Person”includesindividuals,firms,partnerships,corporations |
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| 89 | | - | andassociations. |
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| 90 | | - | (9)“Railroadcooperative”meansanycorporationassociation |
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| 91 | | - | organizedunderthischapterfortheorganization,acquisition,andoperation |
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| 92 | | - | ofageneraltransportationbusinessbyrailroad,includingtruck,bus,air,and |
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| 93 | | - | watertransportationsubsidiariesoftherailroad. |
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| 94 | | - | *** |
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| 95 | | - | §994.POWERS |
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| 96 | | - | Eachassociationincorporatedunderthissubchaptershallhavethe |
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| 97 | | - | followingpowers: |
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| 98 | | - | (1)Inthecaseofamarketingcooperative,thepowertoengageinany |
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| 99 | | - | activityinconnectionwiththepurchasing,marketing,selling,preserving, |
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| 100 | | - | harvesting,drying,processing,manufacturing,canning,packing,grading, BILLASPASSEDBYTHEHOUSE H.243 |
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| 101 | | - | 2025 Page5of227 |
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| 102 | | - | storing,handling,orutilizationofanyagriculturalorhandcraftproductsor |
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| 103 | | - | themanufacturingormarketingoftheby-productsbyproductsthereof,any |
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| 104 | | - | activityinconnectionwiththepurchase,hiring,orusebyitsmembersof |
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| 105 | | - | supplies,machineryorequipment,andinfinancinganyoftheaforementioned |
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| 106 | | - | activities.However,amarketingassociationshallnothandleagriculturalor |
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| 107 | | - | handcraftproductsofnonmemberstoanextentgreaterinvaluethanthe |
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| 108 | | - | productsofitsownmemberswhichthatithandles.Inthecaseofa |
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| 109 | | - | consumers’cooperative,thepowertoengageinanyoneormorelawfulmode |
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| 110 | | - | ormodesofacquiring,producing,building,operating,manufacturing, |
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| 111 | | - | furnishing,exchanging,ordistributinganytypeofproperty,commodities, |
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| 112 | | - | goods,orservicesfortheprimaryandmutualbenefitofthepatronsofthe |
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| 113 | | - | association,ortheirpatrons,ifany,asultimateconsumers.Inthecaseofa |
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| 114 | | - | railroadcooperative,toengageinanyactivityinconnectionwiththe |
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| 115 | | - | organization,acquisition,andoperationofasubsidiarytransportation |
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| 116 | | - | business,whetherbymeansofrailroad,truck,watercarrier,air,orother. |
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| 117 | | - | Suchacorporationformedunderthissubchaptershallhaveanyotherrights, |
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| 118 | | - | powers,andprivilegesgrantedbythelawsofthisStatetocorporationsina |
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| 119 | | - | likebusinessorganizedunderthegenerallawsofthisState. |
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| 120 | | - | *** |
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| 121 | | - | §995.ARTICLES BILLASPASSEDBYTHEHOUSE H.243 |
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| 122 | | - | 2025 Page6of227 |
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| 123 | | - | Eachassociationformedunderthissubchaptershallprepareandfile |
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| 124 | | - | articlesofincorporationsettingforth: |
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| 125 | | - | (1)Thenameoftheassociation. |
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| 126 | | - | (2)Thepurposeforwhichitisformed. |
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| 127 | | - | (3)Theplacewhereitsprincipalbusinesswillbetransactedaddressof |
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| 128 | | - | itsprincipalofficeinthisState,andthename,email,andaddressinformation |
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| 129 | | - | ofanagentforserviceofprocesspursuanttosection1655ofthistitle. |
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| 130 | | - | (4)Thenamesandbusinessaddressesofthedirectorsthereofwhoareto |
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| 131 | | - | serveuntiltheelectionandqualificationoftheirsuccessors. |
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| 132 | | - | (5)Thenameandresidencebusinessaddressoftheclerk,andofany |
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| 133 | | - | otherprincipaltheassociationprovides. |
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| 134 | | - | (6)Whenorganizedwithoutcapitalstock,whetherthepropertyrights |
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| 135 | | - | andinterestofthemembersareequal,and,ifunequal,thegeneralrules |
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| 136 | | - | applicabletoallmembersbywhichthepropertyrightsandinterest, |
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| 137 | | - | respectively,ofeachmembershallbedeterminedandfixed,andprovisionfor |
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| 138 | | - | theadmissionofnewmemberswhoshallbeentitledtoshareinthepropertyof |
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| 139 | | - | theassociationinaccordancewithsuchgeneralrules.Thisprovisionor |
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| 140 | | - | paragraphofthecertificateoforganizationarticlesofincorporationshallnot |
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| 141 | | - | bealtered,amended,orreplacedexceptbythewrittenconsentorvote |
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| 142 | | - | representingthree-fourthsofthemembers. BILLASPASSEDBYTHEHOUSE H.243 |
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| 143 | | - | 2025 Page7of227 |
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| 144 | | - | (7)Whenorganizedwithcapitalstock,theamountofsuchstock,the |
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| 145 | | - | numberofsharesintowhichitisdivided,andtheparvaluethereof. |
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| 146 | | - | (8)Thecapitalstockmaybedividedintopreferredandoneormore |
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| 147 | | - | classesofcommonstock.Whensodivided,thecertificateoforganization |
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| 148 | | - | articlesofincorporationshallcontainastatementofthenumberofsharesof |
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| 149 | | - | stocktowhichpreferenceisgranted,thenumberofsharesofstocktowhichno |
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| 150 | | - | preferenceisgranted,andthenatureanddefiniteextentofthepreferenceand |
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| 151 | | - | privilegesgrantedtoeach. |
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| 152 | | - | (9)Thearticlesofincorporationofanyassociationorganizedunderthis |
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| 153 | | - | subchaptermayprovidethatthemembersorstockholdersthereofshallhave |
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| 154 | | - | therighttovoteinpersonorthroughanothermethodofcommunication, |
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| 155 | | - | includingthroughatelecommunicationsorelectronicmedium,butamember |
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| 156 | | - | orstockholdermaynotvotebyproxy.Thisprovisionorparagraphofthe |
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| 157 | | - | articlesofincorporationshallnotbealteredandshallnotbesubjectto |
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| 158 | | - | amendment. |
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| 159 | | - | (10)Inadditiontotheforegoing,thearticlesofincorporationofany |
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| 160 | | - | associationincorporatedhereundermaycontainanyprovisionconsistentwith |
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| 161 | | - | lawwithrespecttomanagement,regulation,government,financing, |
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| 162 | | - | indebtedness,membership,theestablishmentofvotingdistrictsandthe |
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| 163 | | - | electionofdelegatesforrepresentativepurposes,theissuance,retirement,and |
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| 164 | | - | transferofitsstock,ifformedwithcapitalstock,oranyprovisionsrelativeto BILLASPASSEDBYTHEHOUSE H.243 |
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| 165 | | - | 2025 Page8of227 |
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| 166 | | - | thewayormannerinwhichitshalloperateorwithrespecttoitsmembers, |
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| 167 | | - | officers,ordirectorsandanyotherprovisionsrelatingtoitsaffairs. |
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| 168 | | - | (11)Thecertificatearticlesofincorporationshallbesubscribedbythe |
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| 169 | | - | incorporatorsandshallbesworntobyoneormoreofthem;andshallbefiled |
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| 170 | | - | withtheSecretaryofState.Acertifiedcopyshallalsobefiledwiththe |
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| 171 | | - | SecretaryofAgriculture,FoodandMarkets. |
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| 172 | | - | (12)Whensofiled,thecertificateoforganizationarticlesof |
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| 173 | | - | incorporationoracertifiedcopythereofshallbereceivedinthecourtsofthis |
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| 174 | | - | Stateasprimafacieevidenceofthefactscontainedthereinandofthedue |
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| 175 | | - | incorporationofsuchassociation. |
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| 176 | | - | §996.AMENDMENTOFCERTIFICATEARTICLES;STATEMENTOF |
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| 177 | | - | CHANGE |
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| 178 | | - | (a)Thecertificateoforganizationarticlesofincorporationmaybealtered |
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| 179 | | - | oramendedexceptasotherwiseprovidedinthissubchapteratanyregular |
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| 180 | | - | meetingoranyspecialmeetingcalledforthatpurpose.Anamendmentmust |
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| 181 | | - | firstbeapprovedbytwo-thirdsofthedirectorsandadoptedbyavoteoftwo- |
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| 182 | | - | thirdsofthemembersordelegatespresentandvotingatsuchmeeting. |
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| 183 | | - | Amendmentstothecertificateoforganizationarticlesofincorporation,when |
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| 184 | | - | soadopted,shallbefiledinaccordancewiththeprovisionsofsection995of |
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| 185 | | - | thistitle. BILLASPASSEDBYTHEHOUSE H.243 |
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| 186 | | - | 2025 Page9of227 |
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| 187 | | - | (b)Notwithstandingsubsection(a)ofthissection,anassociationshall |
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| 188 | | - | amendthename,email,oraddressinformationofitsagentforserviceof |
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| 189 | | - | processbysubmittingtotheSecretaryofStateforfilingastatementofchange |
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| 190 | | - | pursuanttosection1655ofthistitle. |
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| 191 | | - | §997.FEE |
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| 192 | | - | Forfilingacertificateoforganization,anassociationshallpay$20.00to |
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| 193 | | - | theSecretaryofState,andforfilinganamendmentthereto,$10.00Aperson |
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| 194 | | - | whosubmitsadocumentforfilingpursuanttothischaptershallpaytothe |
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| 195 | | - | SecretaryofStatetheamountspecifiedinsection1651ofthistitle. |
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| 196 | | - | *** |
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| 197 | | - | §1001.CONTENTSOFBYLAWS |
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| 198 | | - | Eachassociationmayprovideinitsbylawsforanyorallofthefollowing |
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| 199 | | - | matters: |
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| 200 | | - | *** |
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| 201 | | - | (10)Inthecaseofaconsumer’sconsumers’orrailroadcooperative,the |
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| 202 | | - | methodofdistributingamongmembersorstockholdersandpatrons,both |
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| 203 | | - | membersandnonmembers,thenetsavingsderivedfromtheexcessoftotal |
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| 204 | | - | incomeoveroperatingexpenses.Provisionmaybemadefortheaccumulation |
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| 205 | | - | ofreservefundsoutofnetsavings. |
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| 206 | | - | *** |
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| 207 | | - | §1013.OFFICERS BILLASPASSEDBYTHEHOUSE H.243 |
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| 208 | | - | 2025 Page10of227 |
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| 209 | | - | Thedirectorsshallelectfromtheirnumberapresidentandoneormorevice |
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| 210 | | - | presidents.Theyshallalsoelectasecretary,whoshallbetheclerkofthe |
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| 211 | | - | corporationassociation,andatreasurer,whoneednotbedirectorsor |
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| 212 | | - | membersoftheassociation.Thedirectorsmaycombinethetwolatteroffices |
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| 213 | | - | anddesignatethecombinedofficeasthatofsecretary-treasurer,oruniteboth |
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| 214 | | - | functionsandtitlesinoneperson.Thetreasurermaybeabankorany |
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| 215 | | - | depository,andassuch,shallnotbeconsideredasanofficer,butasafunction |
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| 216 | | - | oftheboardofdirectors,andinsuchcase,thesecretaryshallperformthe |
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| 217 | | - | usualaccountingdutiesofthetreasurer,exceptthatthefundsshallbe |
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| 218 | | - | depositedonlyasandwhereauthorizedbytheboardofdirectors. |
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| 219 | | - | *** |
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| 220 | | - | §1023.OWNERSHIPORCONTROLOFOTHERCORPORATIONS |
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| 221 | | - | BUSINESSORGANIZATIONS |
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| 222 | | - | Anassociationmayorganize,form,operate,own,control,haveaninterest |
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| 223 | | - | in,ownstockof,orbeamemberof,anyothercorporationorcorporations, |
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| 224 | | - | withorwithoutcapitalstock,andbusinessorganizationengagedin |
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| 225 | | - | preserving,drying,processing,canning,packing,storing,handling,shipping, |
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| 226 | | - | utilizing,manufacturing,marketing,orsellingtheagriculturalproducts |
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| 227 | | - | handledbytheassociationorbyproductsthereof. |
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| 228 | | - | §1024.WAREHOUSERECEIPTS BILLASPASSEDBYTHEHOUSE H.243 |
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| 229 | | - | 2025 Page11of227 |
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| 230 | | - | Whensuchcorporationsarewarehousingcorporations,theyAnassociation |
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| 231 | | - | engagedinwarehousingmayissuenegotiableornonnegotiablewarehouse |
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| 232 | | - | receiptsoftheassociationagainstthecommoditiesdelivered,andsuch |
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| 233 | | - | warehousereceiptsshallbeconsideredasadequatecollateraltotheextentof |
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| 234 | | - | theusualandcurrentvalueofthecommodityrepresentedthereby.Incase |
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| 235 | | - | suchwarehouseislicensed,orlicensedandbonded,underthelawsofthisor |
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| 236 | | - | anyotherstateoftheUnitedStates,itswarehousereceiptdeliveredtothe |
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| 237 | | - | associationoncommoditiesoftheassociationoritsmembers,ordeliveredby |
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| 238 | | - | theassociationorbyitsmembers,shallnotbechallengedordiscriminated |
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| 239 | | - | againstbecauseofownershiporcontrol,whollyorinpart,bytheassociation. |
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| 240 | | - | *** |
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| 241 | | - | Subchapter3.ConsolidationofCooperativeAssociations |
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| 242 | | - | §1061.PROCEDURE |
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| 243 | | - | Twoormorecooperativeassociationsorganizedunder,orwhichhave |
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| 244 | | - | adoptedtheprovisionsofsubchapter12ofthischapter,orsimilarlawsof |
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| 245 | | - | otherstates,whetherhavingornothavingcapitalstock,maymergeor |
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| 246 | | - | consolidateintoonecooperativeassociationwhichmaybeanewcooperative |
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| 247 | | - | associationoroneoftheconstituentcooperativesbycomplyingwiththe |
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| 248 | | - | followingrequirements: |
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| 249 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
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| 250 | | - | 2025 Page12of227 |
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| 251 | | - | (3)Ifthearticlesofmergerorconsolidationareadoptedbythe |
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| 252 | | - | affirmativevoteofnotlessthantwo-thirdsofthemembersattendingand |
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| 253 | | - | votingofeachconsolidatingcooperativevotingthereonatthemeetingcalled |
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| 254 | | - | toconsiderthesame,orbynotlessthanbyatwo-thirdsvoteofitsdelegatesif |
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| 255 | | - | qualifiedasprovidedinsubdivision(4)ofthissection,articlesofmergeror |
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| 256 | | - | consolidationintheformadoptedshallbeexecutedunderitssealand |
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| 257 | | - | acknowledgedonbehalfofeachconsolidatingcooperativebyitspresidentor |
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| 258 | | - | vice-president.Sucharticlesofmergerorconsolidationshallrecitethatthey |
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| 259 | | - | areexecutedpursuanttothissubchapterandshallstate: |
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| 260 | | - | (A)thenameofeachconsolidatingcooperativeandtheaddressofits |
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| 261 | | - | principaloffice; |
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| 262 | | - | (B)thenameofthenewcooperativeandtheaddressofitsprincipal |
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| 263 | | - | officeinthisState,orifnone,thename,email,andaddressofanagentfor |
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| 264 | | - | serviceofprocesspursuanttosection1655ofthistitle; |
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| 265 | | - | (C)astatementthateachconsolidatingcooperativeagreestothe |
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| 266 | | - | mergerorconsolidation; |
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| 267 | | - | (D)thenamesandbusinessaddressesofthedirectorsofthenew |
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| 268 | | - | cooperative,andofanyotherprincipaltheassociationprovides;and |
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| 269 | | - | (E)thetermsandconditionsofthemergerorconsolidationandthe |
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| 270 | | - | modeofcarryingthesameintoeffect,includingthemannerinwhichthe |
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| 271 | | - | membersoftheconsolidatingcooperativemayorshallbecomemembersofthe BILLASPASSEDBYTHEHOUSE H.243 |
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| 272 | | - | 2025 Page13of227 |
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| 273 | | - | newcooperative;andmaycontainprovisions,notinconsistentwithlaworthis |
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| 274 | | - | subchapter,whicharedeemednecessaryoradvisablefortheconductofthe |
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| 275 | | - | businessofthenewcooperative. |
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| 276 | | - | (4)Thepresidentorvicepresidentandtheclerkorsecretaryofeach |
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| 277 | | - | consolidatingcooperativeexecutingsucharticlesofmergerorconsolidation |
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| 278 | | - | shallmakeandannextheretoanaffidavitstatingthattheprovisionsofthis |
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| 279 | | - | sectioninrespecttosucharticlesweredulycompliedwithbysuch |
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| 280 | | - | cooperative. |
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| 281 | | - | (4)(5)Inthecaseofanyconsolidatingcooperativehavingadistrict |
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| 282 | | - | electionofdelegatesandadelegatesystemofvotingaspermittedby |
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| 283 | | - | subdivision995(10)ofthistitle,inwhich,underitsarticlesofincorporationor |
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| 284 | | - | bylaws,suchdelegateshavecompletevotingpoweronbehalfofthe |
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| 285 | | - | membershipforeverypurpose,exceptthatoftheirownelectionandthe |
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| 286 | | - | electionofdistrictdirectors,thevoteadoptingthemergerorconsolidation |
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| 287 | | - | requiredbysubdivision(3)ofthissectionshallbethatofnotlessthantwo- |
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| 288 | | - | thirdsofthedelegatesattendingandvotingatsuchmeeting. |
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| 289 | | - | *** |
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| 290 | | - | §1063.FEE |
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| 291 | | - | Forfilingarticlesofmergerorconsolidationthenewcooperativeshallpay |
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| 292 | | - | $20.00totheSecretaryofState;andforfilinganamendmentthereof$10.00. |
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| 293 | | - | [Repealed.] BILLASPASSEDBYTHEHOUSE H.243 |
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| 294 | | - | 2025 Page14of227 |
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| 295 | | - | *** |
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| 296 | | - | Sec.4.11V.S.A.chapter15isamendedtoread: |
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| 297 | | - | CHAPTER15.REGISTRATIONOFBUSINESSENTITIESASSUMED |
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| 298 | | - | BUSINESSNAMES,PARTNERSHIPS,ANDUNINCORPORATED |
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| 299 | | - | NONPROFITASSOCIATIONS;ADMINISTRATIVEAUTHORITY; |
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| 300 | | - | ADMINISTRATIVEPROVISIONS |
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| 301 | | - | Subchapter1.AssumedBusinessNames,Partnerships,andUnincorporated |
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| 302 | | - | NonprofitAssociations |
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| 303 | | - | §1621.REGISTRATIONOFASSUMEDBUSINESSNAMEBYPERSONS |
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| 304 | | - | NAMES,PARTNERSHIPS,ANDUNINCORPORATED |
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| 305 | | - | NONPROFITASSOCIATIONS |
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| 306 | | - | (a)ApersondoingbusinessinthisStateunderanynameotherthanhisor |
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| 307 | | - | herown,andeverycopartnershipAnindividualdoingbusinessunderan |
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| 308 | | - | assumedbusinessname,orapartnershiporunincorporatednonprofitor |
|---|
| 309 | | - | associationofindividuals,exceptcorporationsandlimitedliabilitycompanies, |
|---|
| 310 | | - | doingbusinessinthisState,residentornonresident,shallcausetoberecorded |
|---|
| 311 | | - | withsubmittotheSecretaryofStateforfilingareturnsettingfortha |
|---|
| 312 | | - | registrationthatprovides: |
|---|
| 313 | | - | (1)thenameunderwhichsuchbusinessiscarriedon,thenameofthe |
|---|
| 314 | | - | business; BILLASPASSEDBYTHEHOUSE H.243 |
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| 315 | | - | 2025 Page15of227 |
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| 316 | | - | (2)thenameofthetownwhereinsuchplaceofbusinessislocated,the |
|---|
| 317 | | - | addressofitsprincipaloffice; |
|---|
| 318 | | - | (3)abriefdescriptionofthekindofbusinesstobetransactedunder |
|---|
| 319 | | - | suchname,anditsbusinesspurpose; |
|---|
| 320 | | - | (4)theindividualnamesandresidencesofallpersons,generalpartners, |
|---|
| 321 | | - | ormemberssodoingbusinessthereunderthenameandbusinessaddressofthe |
|---|
| 322 | | - | individualdoingbusinessundertheassumedname,asapartnerofthe |
|---|
| 323 | | - | partnership,orasamemberoftheassociation,andofanyotherprincipalthe |
|---|
| 324 | | - | registrantprovides;and |
|---|
| 325 | | - | (5)foreachindividual,partner,ormemberwhoisnotaresidentofthis |
|---|
| 326 | | - | State,orforwhomtheregistrantdoesnotprovideanaddressinthisStatefor |
|---|
| 327 | | - | serviceofprocess,thename,email,andaddressinformationofanagentfor |
|---|
| 328 | | - | serviceofprocesspursuanttosection1655ofthistitle. |
|---|
| 329 | | - | (b)SuchreturnsAregistrationshallbesubscribedandsworntobyoneor |
|---|
| 330 | | - | moreofthepersonssodoingbusiness,andshallbeapersonwithauthorityto |
|---|
| 331 | | - | actonbehalfoftheregistrantandfiledwiththeSecretaryofStatewithinnot |
|---|
| 332 | | - | laterthan10daysaftercommencementofbusiness. |
|---|
| 333 | | - | (c)TheSecretaryofStateshalldeclinetoregisteranybusinessname |
|---|
| 334 | | - | unlessthenameisdistinguishableintherecordsoftheSecretaryofStatefrom |
|---|
| 335 | | - | anyotherbusinessnameofanynameregisteredorreservedunderthischapter, |
|---|
| 336 | | - | orthenameofanyotherentity,whetherdomesticorforeign,thatisreserved, BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 337 | | - | 2025 Page16of227 |
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| 338 | | - | registered,orgrantedbyorwiththeSecretaryofState,oranynamethat |
|---|
| 339 | | - | wouldleadareasonablepersontoconcludethatthebusinessisatypeofentity |
|---|
| 340 | | - | thatitisnot. |
|---|
| 341 | | - | (d)TheSecretaryofStateshallestablishrulesandregulationsforthe |
|---|
| 342 | | - | administrationofthissection. |
|---|
| 343 | | - | (e)Priortoregisteringitsbusinessnameunderthissection,aperson |
|---|
| 344 | | - | intendingtooperateapostsecondaryschool,asdefinedin16V.S.A.§§176 |
|---|
| 345 | | - | and176a,shallapplytotheStateBoardofEducationforacertificateof |
|---|
| 346 | | - | approvalpursuanttothosesections. |
|---|
| 347 | | - | §1621a.RESERVEDNAME |
|---|
| 348 | | - | (a)Theexclusiverighttotheuseofabusinessnamemaybereservedby |
|---|
| 349 | | - | anyperson,copartnership,orassociationintendingtoregisteritsnameunder |
|---|
| 350 | | - | thissection. |
|---|
| 351 | | - | (b)ThereservationshallbemadebyfilingwiththeSecretaryofStatean |
|---|
| 352 | | - | applicationtoreserveaspecifiedbusinessname,executedbytheapplicant,its |
|---|
| 353 | | - | agent,orattorney.IftheSecretaryofStatefindsthatthenameisavailablefor |
|---|
| 354 | | - | use,heorsheshallreservethesamefortheexclusiveuseoftheapplicantfora |
|---|
| 355 | | - | periodof120days. |
|---|
| 356 | | - | (c)Therighttotheexclusiveuseofaspecifiedbusinessnamesoreserved |
|---|
| 357 | | - | maybetransferredtoanyotherperson,copartnership,orassociationbyfiling |
|---|
| 358 | | - | intheofficeoftheSecretaryofStateanoticeofsuchtransfer,executedbythe BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 359 | | - | 2025 Page17of227 |
|---|
| 360 | | - | applicantforwhomthenamewasreserved,andspecifyingthenameand |
|---|
| 361 | | - | addressofthetransferee.[Repealed.] |
|---|
| 362 | | - | *** |
|---|
| 363 | | - | §1623.REGISTRATIONBYBUSINESSORGANIZATIONS |
|---|
| 364 | | - | (a)AbusinessorganizationdoingbusinessinthisStateunderanyname |
|---|
| 365 | | - | otherthanthatofthebusinessorganizationshallbesubjecttoallthe |
|---|
| 366 | | - | provisionsofthischapter;andshallfilereturnssworntobysomeofficeror |
|---|
| 367 | | - | directorofthecorporationormutualbenefitenterprise,orbysomedirectoror |
|---|
| 368 | | - | managerofthelimitedliabilitycompany,orbysomepartnerofthe |
|---|
| 369 | | - | partnershiporlimitedpartnership,settingforth: |
|---|
| 370 | | - | (1)thenameandlocationoftheprincipalofficeofthebusiness |
|---|
| 371 | | - | organization; |
|---|
| 372 | | - | (2)thenameunderwhichtheorganizationwillconductbusiness; |
|---|
| 373 | | - | (3)thetownortownswheretheorganizationconductsbusinessunder |
|---|
| 374 | | - | thename;and |
|---|
| 375 | | - | (4)abriefdescriptionofthekindofbusinesstheorganizationconducts |
|---|
| 376 | | - | underthename. |
|---|
| 377 | | - | (b)TheSecretaryofStateshalldeclinetoregisteranybusinessnameunless |
|---|
| 378 | | - | thenameisdistinguishableintherecordsoftheSecretaryofStatefromany |
|---|
| 379 | | - | otherbusinessnameofanynameregisteredorreservedunderthischapteror |
|---|
| 380 | | - | thenameofanyotherentity,whetherdomesticorforeign,thatisreserved, BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 381 | | - | 2025 Page18of227 |
|---|
| 382 | | - | registered,orgrantedbyorwiththeSecretaryofState,oranynamethat |
|---|
| 383 | | - | wouldleadareasonablepersontoconcludethatthebusinessisatypeofentity |
|---|
| 384 | | - | thatitisnot.[Repealed.] |
|---|
| 385 | | - | §1624.FORMS |
|---|
| 386 | | - | TheSecretaryofStateshallformulateformsforthereturnsandshall,on |
|---|
| 387 | | - | request,furnishsuchformsbymailorotherwisetopersons,copartnerships, |
|---|
| 388 | | - | associations,orcorporationssubjecttotheprovisionsofthischapter. |
|---|
| 389 | | - | [Repealed.] |
|---|
| 390 | | - | §1625.FEES |
|---|
| 391 | | - | (a)Aperson,copartnership,association,limitedliabilitycompany,or |
|---|
| 392 | | - | corporationrequiredbytheprovisionsofthischaptertofileareturnshall,at |
|---|
| 393 | | - | thetimeoffilingasprovided,payaregistrationfeeof$70.00totheSecretary |
|---|
| 394 | | - | ofState. |
|---|
| 395 | | - | (b)Aperson,copartnership,association,limitedliabilitycompany,or |
|---|
| 396 | | - | corporationrequiredbytheprovisionsofthischaptertofileacertificateof |
|---|
| 397 | | - | cessationorchangeofbusinessstatusoranapplicationtoreserveabusiness |
|---|
| 398 | | - | nameshall,atthetimeoffiling,payafeeof$35.00totheSecretaryofState. |
|---|
| 399 | | - | (c)Statementofchangeofdesignatedagentordesignatedoffice,orboth: |
|---|
| 400 | | - | $25.00,nottoexceed$1,000.00perfilerpercalendaryear. |
|---|
| 401 | | - | (d)TheSecretaryshallcollect$25.00eachtimeprocessisservedonthe |
|---|
| 402 | | - | Secretaryunderthischapter.Thepartytoaproceedingcausingserviceof BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 403 | | - | 2025 Page19of227 |
|---|
| 404 | | - | processisentitledtorecoverthisfeeascostsifheorsheprevailsinthe |
|---|
| 405 | | - | proceeding.Apersonwhosubmitsadocumentforfilingpursuanttothis |
|---|
| 406 | | - | subchaptershallpaytotheSecretaryofStatetheamountspecifiedinsection |
|---|
| 407 | | - | 1651ofthistitle. |
|---|
| 408 | | - | §1626.FAILURETOREGISTER;ENFORCINGCOMPLIANCE |
|---|
| 409 | | - | (a)ApersontransactingbusinessinthisStatewhoisnotregisteredwith |
|---|
| 410 | | - | theSecretaryofStateasrequiredunderthischaptersubchapterandany |
|---|
| 411 | | - | successortothepersonorassigneeofacauseofactionarisingoutofthe |
|---|
| 412 | | - | businessoftheperson,maynotmaintainanactionorproceedingorraisea |
|---|
| 413 | | - | counterclaim,crossclaim,oraffirmativedefenseinthisStateuntiltheperson, |
|---|
| 414 | | - | successor,orassigneeregisterswiththeSecretary. |
|---|
| 415 | | - | (b)Thefailureofapersontoregisterasrequiredunderthischapter |
|---|
| 416 | | - | subchapterdoesnotimpairthevalidityofacontractoractofthepersonor |
|---|
| 417 | | - | precludeitfromdefendinganactionorproceedinginthisState. |
|---|
| 418 | | - | (c)Anindividualdoesnotwaivealimitationonhisorherpersonal |
|---|
| 419 | | - | liabilityaffordedbyotherlawsolelybytransactingbusinessinthisState |
|---|
| 420 | | - | withoutregisteringwiththeSecretaryofStateasrequiredunderthischapter |
|---|
| 421 | | - | subchapter. |
|---|
| 422 | | - | (d)IfapersontransactsbusinessinthisStatewithoutregisteringwiththe |
|---|
| 423 | | - | SecretaryofStateasrequiredunderthischaptersubchapter,theSecretaryis BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 424 | | - | 2025 Page20of227 |
|---|
| 425 | | - | itsagentforserviceofprocesswithrespecttoarightofactionarisingoutof |
|---|
| 426 | | - | thetransactionofbusinessinthisState. |
|---|
| 427 | | - | (e)ApersonthattransactsbusinessinthisStatewithoutregisteringwith |
|---|
| 428 | | - | theSecretaryofStateasrequiredunderthischaptersubchaptershallbeliable |
|---|
| 429 | | - | totheStatefor: |
|---|
| 430 | | - | (1)acivilpenaltyof$50.00foreachday,nottoexceedatotalof |
|---|
| 431 | | - | $10,000.00foreachyear,ittransactsbusinessinthisStatewithouta |
|---|
| 432 | | - | registration; |
|---|
| 433 | | - | (2)anamountequaltothefeesdueunderthischaptersubchapter |
|---|
| 434 | | - | duringtheperiodittransactedbusinessinthisStatewithoutaregistration; |
|---|
| 435 | | - | and |
|---|
| 436 | | - | (3)otherpenaltiesimposedbylaw. |
|---|
| 437 | | - | (f)TheAttorneyGeneralmaymaintainanactionintheCivilDivisionof |
|---|
| 438 | | - | theSuperiorCourttocollectthepenaltiesimposedinsubsection(e)ofthis |
|---|
| 439 | | - | sectionandtorestrainapersonfromtransactingbusinessinthisStatein |
|---|
| 440 | | - | violationofthischaptersubchapter. |
|---|
| 441 | | - | §1627.SERVICEOFPROCESS |
|---|
| 442 | | - | Serviceofsuchcomplaintandprocessthereundermaybemadeby |
|---|
| 443 | | - | deliveringwithinthisStateatrueandattestedcopythereoftoanypersonso |
|---|
| 444 | | - | doingbusinessoranyservantoragentofsuchperson,copartnership, |
|---|
| 445 | | - | association,limitedliabilitycompany,orcorporation,orinanymanner BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 446 | | - | 2025 Page21of227 |
|---|
| 447 | | - | otherwiseprovidedbylaw.Anamesoregisteredshallnotthereafterbeused |
|---|
| 448 | | - | byaperson,copartnership,association,limitedliabilitycompany,or |
|---|
| 449 | | - | corporation,unlessitislawfullyentitledtheretoatthedateofsuch |
|---|
| 450 | | - | registration.[Repealed.] |
|---|
| 451 | | - | §1628.CERTIFICATEOFCESSATIONOFBUSINESSORCHANGEOF |
|---|
| 452 | | - | BUSINESSSTATUS;AMENDMENT |
|---|
| 453 | | - | (a)Whenaperson,copartnership,association,limitedliabilitycompany, |
|---|
| 454 | | - | orcorporationsubjecttotheprovisionsofthischaptershallceasetodo |
|---|
| 455 | | - | businessinthisState,acertificatesettingforthsuchfactandthedatewhereon |
|---|
| 456 | | - | itsoceasedshallbefiledwiththeSecretaryofStatewithin10daysafterthe |
|---|
| 457 | | - | datesuchbusinessceases.Suchcertificatemaybesworntoandfiledbya |
|---|
| 458 | | - | survivingpartner,memberofsuchassociation,officerofsuchcorporation, |
|---|
| 459 | | - | memberormanagerofsuchlimitedliabilitycompany,orpersonsodoing |
|---|
| 460 | | - | business,orhisorherexecutororadministratorAregistrantthatceasestodo |
|---|
| 461 | | - | businessinthisStateshallsubmittotheSecretaryofStateforfilinga |
|---|
| 462 | | - | certificateofcessationofbusinessnotlaterthan10daysafterthedateof |
|---|
| 463 | | - | cessation. |
|---|
| 464 | | - | (b)Wheneveranygeneralpartnerofsuchpartnership,ormemberofsuch |
|---|
| 465 | | - | associationwithdrawsfromthebusiness,aremaininggeneralpartneror |
|---|
| 466 | | - | membershallwithin30daysfileacertificatewiththeSecretaryofStatesigned |
|---|
| 467 | | - | andswornbyaremaininggeneralpartnerormember,settingforththefactof BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 468 | | - | 2025 Page22of227 |
|---|
| 469 | | - | suchwithdrawal,togetherwiththedateofthatwithdrawal.Filingofthis |
|---|
| 470 | | - | certificateshallavoidanyinterruptionintheperiodofregistrationremaining |
|---|
| 471 | | - | beforetheneedforrenewal,asifnopartnerormemberoftheassociationhad |
|---|
| 472 | | - | withdrawnAregistrantthataddsorremovesanindividual,partner,ormember |
|---|
| 473 | | - | namedinitsregistrationshallsubmittotheSecretaryofStateforfilingan |
|---|
| 474 | | - | amendmenttoreflectthechangenotlaterthan30daysafterthedateofthe |
|---|
| 475 | | - | change. |
|---|
| 476 | | - | (c)Aregistrantmayamenditsagentinformationbyfilingastatementof |
|---|
| 477 | | - | changepursuanttosection1655ofthistitleandmayamendanyother |
|---|
| 478 | | - | informationinitsregistrationbysubmittinganamendmenttotheSecretaryof |
|---|
| 479 | | - | Stateforfiling. |
|---|
| 480 | | - | §1629.PENALTIES |
|---|
| 481 | | - | Failuretofilesuchcertificateatthetimesorequiredbysection1628ofthis |
|---|
| 482 | | - | titleshallworkaforfeitureof$10.00toberecoveredbytheSecretaryofState |
|---|
| 483 | | - | inacivilactiononthisstatute,inhisorhername,againstanysurviving |
|---|
| 484 | | - | partner,anymemberofsuchassociation,anyofficerofsuchcorporation,or |
|---|
| 485 | | - | anypersonsodoingbusiness,orhisexecutororadministrator,andthesame |
|---|
| 486 | | - | shallbepaidintotheTreasuryoftheState.[Repealed.] |
|---|
| 487 | | - | §1630.PROCESSAGENT |
|---|
| 488 | | - | EachnonresidentdoingbusinessinthisStateinhisorherindividual |
|---|
| 489 | | - | capacity,orascopartnerormemberofacopartnershiporassociation BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 490 | | - | 2025 Page23of227 |
|---|
| 491 | | - | requiredbysections1621and1623ofthistitletofilethereturnstherein |
|---|
| 492 | | - | specified,orunderanynameotherthanhisorherown,exceptasotherwise |
|---|
| 493 | | - | provided,shallappointinwritingapersonhavinganofficeorplaceof |
|---|
| 494 | | - | businessandresidinginthetownwhereintheprincipalofficeofsuch |
|---|
| 495 | | - | nonresident,copartnership,orassociationislocated,uponwhomprocess |
|---|
| 496 | | - | againstsuchnonresidentmaybeservedinanactionfoundeduponaliability |
|---|
| 497 | | - | incurredinthisState.Suchappointmentshallcontinueinforceuntilrevoked |
|---|
| 498 | | - | byalikeinstrumentappointinganotherpersonthereinresiding,andhaving |
|---|
| 499 | | - | thereinanofficeorplaceofbusiness.Suchinstrumentshallberecordedwith |
|---|
| 500 | | - | theSecretaryofState.Intheeventanonresidenthasnotappointedaprocess |
|---|
| 501 | | - | agent,andhasnotfiledsuchappointment,assetforthinthissection,the |
|---|
| 502 | | - | SecretaryofStateshallbesuchprocessagent.[Repealed.] |
|---|
| 503 | | - | §1631.VACANCY |
|---|
| 504 | | - | WhenanappointeediesorremovesfromtheState,anotherpersonresiding |
|---|
| 505 | | - | insuchtownandhavingthereinanofficeorplaceofbusiness,within10days |
|---|
| 506 | | - | fromthedateofsuchdeathorremoval,shallbeappointedinthemanner |
|---|
| 507 | | - | hereinbeforespecified,uponwhomserviceofprocessmaybemadeasprovided |
|---|
| 508 | | - | insection1630ofthistitle.Incaseofsuchdeathorremoval,orifapersonis |
|---|
| 509 | | - | notappointedasaforesaid,processagainstsuchnonresidentpersonmaybe |
|---|
| 510 | | - | servedbydeliveringtotheSecretaryofStateduplicatecopiesthereof,oneof |
|---|
| 511 | | - | whichshallbefiledwiththeSecretaryofStateandtheothershallbe BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 512 | | - | 2025 Page24of227 |
|---|
| 513 | | - | forwardedbymailprepaidbytheclerktothelastknownresidenceofsuch |
|---|
| 514 | | - | person.[Repealed.] |
|---|
| 515 | | - | §1632.EXCEPTIONS |
|---|
| 516 | | - | Theprovisionsofsections1630and1631ofthistitleshallnotapplyto |
|---|
| 517 | | - | foreigninvestmentcompanies,foreignbuildingandloanassociations,or |
|---|
| 518 | | - | foreigncreamerycompanies.[Repealed.] |
|---|
| 519 | | - | §1633.SECRETARYOFSTATEASPROCESSAGENT |
|---|
| 520 | | - | Aforeigninsurance,express,shippingcar,telegraph,ortelephone |
|---|
| 521 | | - | company,oraforeigncompanyunderanyothernameengagedinlike |
|---|
| 522 | | - | business,shallnotdobusinessinthisStateasanunincorporatedassociation |
|---|
| 523 | | - | orpartnership,untilithasfiledwiththeSecretaryofStateawrittenstipulation |
|---|
| 524 | | - | containingtheassociationorfirmname,andthenamesandresidencesofthe |
|---|
| 525 | | - | associatesorpartners,andappointingtheSecretaryofStateasitsprocess |
|---|
| 526 | | - | agent.Suchstipulationshallbeinformandsubstancelikethatspecifiedin |
|---|
| 527 | | - | subdivision692(3)ofthistitle,andshallhavethesamelegaleffect.The |
|---|
| 528 | | - | provisionsof12V.S.A.§§851-853,shallapplytoserviceofprocessonsuch |
|---|
| 529 | | - | companyandtoactsdonebypersonsoragentsinitsbehalf.[Repealed.] |
|---|
| 530 | | - | §1634.EFFECTOFFAILUREANDNEGLECT |
|---|
| 531 | | - | Aperson,copartnership,limitedliabilitycompany,orcorporationsubject |
|---|
| 532 | | - | tothischaptershallnotinstituteanyproceedingsinthisStateforthe |
|---|
| 533 | | - | enforcementofanyrightorobligationunlessitshall,priortotheissuanceof BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 534 | | - | 2025 Page25of227 |
|---|
| 535 | | - | theoriginalreturnorcomplainttherein,havefiledthereturnsandpaidthe |
|---|
| 536 | | - | registrationfeerequiredbythischapter;norshallalicenseorcertificatebe |
|---|
| 537 | | - | grantedtoanonresidentindividual,copartnership,orunincorporated |
|---|
| 538 | | - | associationtotransactabusinessspecifiedinTitles5and23orin6V.S.A. |
|---|
| 539 | | - | chapter29untilsuchindividual,copartnership,orassociationhascomplied |
|---|
| 540 | | - | withtheprovisionsofsection1630ofthistitle.[Repealed.] |
|---|
| 541 | | - | §1635.REREGISTRATION |
|---|
| 542 | | - | (a)Oneormorepersonsdoingbusinessunderaregisteredbusinessname |
|---|
| 543 | | - | Aregistrantshallreregisterthenameeveryfiveyearsbyfilingareregistration |
|---|
| 544 | | - | returnwiththeSecretaryofStatewithafeeof$65.00withinnotsoonerthan |
|---|
| 545 | | - | 60daysfollowingthedatefiveyearsafterthedatepriortotheexpirationof |
|---|
| 546 | | - | theoriginalregistrationorofthelastreregistration.TheSecretaryofState |
|---|
| 547 | | - | shallprepareandsupplythenecessaryforms. |
|---|
| 548 | | - | (b)Whenreregistrationisnotaccomplishedasprovidedinsubsection(a) |
|---|
| 549 | | - | ofthissection,abusinessnamemayberegisteredbythefirstapplicantmaking |
|---|
| 550 | | - | applicationtotheSecretaryofStateforanoriginalregistrationasprovidedby |
|---|
| 551 | | - | thischaptersubchapter. |
|---|
| 552 | | - | Subchapter2.AdministrativeAuthority |
|---|
| 553 | | - | §1636.TERMINATIONOFBUSINESSNAME;HEARING |
|---|
| 554 | | - | (a)IftheSecretaryofStatedeclinestoregisterabusinessinaccordance |
|---|
| 555 | | - | withtheprovisionsofsubsection1621(c)ofthistitlebecauseitisnot BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 556 | | - | 2025 Page26of227 |
|---|
| 557 | | - | distinguishableintherecordsoftheSecretaryfromanotherbusinessname,the |
|---|
| 558 | | - | applicantmayrequestthattheSecretarydeterminewhetherthepersonto |
|---|
| 559 | | - | whomthebusinessnameisregisteredisdoingbusinessortakingstepstodo |
|---|
| 560 | | - | businessinthisState. |
|---|
| 561 | | - | *** |
|---|
| 562 | | - | §1637.AUTHORITYTOTERMINATEANDAMENDREGISTRATION |
|---|
| 563 | | - | (a)TheSecretaryofStateshallhavetheauthorityto: |
|---|
| 564 | | - | (1)terminatetheregistrationofapersonwho,pursuanttoan |
|---|
| 565 | | - | administrativeorder,afinalcourtorder,oranassuranceofdiscontinuance,is |
|---|
| 566 | | - | notauthorizedtoconductbusinessinthisState;and |
|---|
| 567 | | - | (2)amendhisorhertheperson’srecordstoreflecttheterminationofa |
|---|
| 568 | | - | registrationpursuanttosubdivision(1)ofthissubsection. |
|---|
| 569 | | - | (b)(1)IftheSecretaryofStateterminatestheregistrationofaperson |
|---|
| 570 | | - | pursuanttothissection,thepersonappointstheSecretaryashisorherthe |
|---|
| 571 | | - | person’sagentforserviceofprocessinanyproceedingbasedonacauseof |
|---|
| 572 | | - | actionthataroseduringthetimethepersonwasauthorizedtotransact,orwas |
|---|
| 573 | | - | transactingwithoutauthorization,businessinthisState. |
|---|
| 574 | | - | (2)Uponreceiptofprocess,theSecretaryofStateshalldeliverby |
|---|
| 575 | | - | registeredmailacopyoftheprocesstothesecretaryoftheterminatedperson |
|---|
| 576 | | - | atitsprincipalofficeshowninitsmostrecentannualreportorinany |
|---|
| 577 | | - | subsequentcommunicationreceivedfromthepersonstatingthecurrent BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 578 | | - | 2025 Page27of227 |
|---|
| 579 | | - | mailingaddressofitsprincipaloffice,or,ifnoneisonfile,initsapplication |
|---|
| 580 | | - | forregistration. |
|---|
| 581 | | - | (c)(1)Ifacourtorotherpersonwithsufficientlegalauthorityreinstates |
|---|
| 582 | | - | theabilityofaterminatedpersontoconductbusinessinthisState,the |
|---|
| 583 | | - | terminatedpersonmayfilewiththeSecretaryofStateevidenceofthe |
|---|
| 584 | | - | reinstatedauthorityandpaytotheSecretaryafeeof$25.00foreachyearthe |
|---|
| 585 | | - | personisdelinquentsubmitanyfilingnecessarytoupdateitsregistration. |
|---|
| 586 | | - | (2)Uponreceiptofafilingandpaymentpursuanttosubdivision(1)of |
|---|
| 587 | | - | thissubsection,theSecretaryshallcanceltheterminationandpreparea |
|---|
| 588 | | - | certificateofreinstatement,filetheoriginalofthecertificate,andserveacopy |
|---|
| 589 | | - | ontheperson. |
|---|
| 590 | | - | § 1638.AUTHORITYTOREJECT,AMEND,ORTERMINATE |
|---|
| 591 | | - | (a)TheSecretaryofStateshallhavetheauthorityto: |
|---|
| 592 | | - | (1)rejectarecordsubmittedforfilingthattheSecretaryreasonably |
|---|
| 593 | | - | determinescontainsfalse,fraudulent,orclearlyerroneousinformation;and |
|---|
| 594 | | - | (2)amendarecordorterminatetheregistrationofapersonwhothe |
|---|
| 595 | | - | Secretarydetermines,afternoticeandopportunityforhearingpursuantto |
|---|
| 596 | | - | 3 V.S.A.chapter25,hassubmittedfalseorfraudulentinformationinarecord, |
|---|
| 597 | | - | orhasattemptedorsubmittedarecordforfilinginbadfaith,withoutlawful |
|---|
| 598 | | - | authority,ortocommitfraudorcauseinjury. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 599 | | - | 2025 Page28of227 |
|---|
| 600 | | - | (b)(1)IftheSecretaryterminatestheregistrationofapersonpursuantto |
|---|
| 601 | | - | thissection,ortheSecretary’srejectionoramendmentofarecordresultsin |
|---|
| 602 | | - | theperson’sfailuretodesignateormaintainanagentforserviceofprocess, |
|---|
| 603 | | - | thenthepersonappointstheSecretaryastheperson’sagentforserviceof |
|---|
| 604 | | - | process. |
|---|
| 605 | | - | (2)Uponreceiptofprocess,theSecretaryofStateshalldeliverby |
|---|
| 606 | | - | registeredmailacopyoftheprocesstotheperson’slastknownaddress. |
|---|
| 607 | | - | (c)ApersonaggrievedbyafinaldecisionoftheSecretaryunderthis |
|---|
| 608 | | - | sectionmayappealtotheSuperiorCourtofWashingtonCounty,whichshall |
|---|
| 609 | | - | considerthematterdenovo. |
|---|
| 610 | | - | §1639.FORMS;PROCEDURES;RULES |
|---|
| 611 | | - | TheSecretaryofStatemayadoptforms,procedures,andrulestoimplement |
|---|
| 612 | | - | theprocessesandprovisionsofgoverningbusinessregistrationinthisState. |
|---|
| 613 | | - | Subchapter3.AdministrativeProvisionsforBusinessOrganizations |
|---|
| 614 | | - | §1651.FEES |
|---|
| 615 | | - | TheSecretaryofStateshallcollectthefollowingfeesforservicesandfor |
|---|
| 616 | | - | documentssubmittedforfilingpursuanttotheprovisionsofTitles11–11Cand |
|---|
| 617 | | - | 30V.S.A.chapter81: |
|---|
| 618 | | - | (1)$150.00fortheinitialfilingofadomesticbusinessorganization, |
|---|
| 619 | | - | including: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 620 | | - | 2025 Page29of227 |
|---|
| 621 | | - | (A)articlesofincorporationforanonprofitcooperativeassociation |
|---|
| 622 | | - | pursuantto11V.S.A.chapter7; |
|---|
| 623 | | - | (B)astatementofqualificationforalimitedliabilitypartnership |
|---|
| 624 | | - | pursuantto11V.S.A.chapter22; |
|---|
| 625 | | - | (C)acertificateoflimitedpartnershipforalimitedpartnership |
|---|
| 626 | | - | pursuantto11V.S.A.chapter23; |
|---|
| 627 | | - | (D)articlesoforganizationforalimitedliabilitycompanypursuant |
|---|
| 628 | | - | to11V.S.A.chapter25; |
|---|
| 629 | | - | (E)articlesofincorporationforabusinesscorporationpursuantto |
|---|
| 630 | | - | Title11A; |
|---|
| 631 | | - | (F)articlesofincorporationforanonprofitcorporationpursuantto |
|---|
| 632 | | - | Title11B; |
|---|
| 633 | | - | (G)articlesoforganizationforamutualbenefitenterprisepursuant |
|---|
| 634 | | - | toTitle11C;and |
|---|
| 635 | | - | (H)articlesofincorporationforautilitycooperativepursuantto |
|---|
| 636 | | - | 30 V.S.A.chapter81; |
|---|
| 637 | | - | (2)$175.00fortheinitialfilingofaforeignbusinessorganization, |
|---|
| 638 | | - | including: |
|---|
| 639 | | - | (A)astatementofforeignqualificationforalimitedliability |
|---|
| 640 | | - | partnershippursuantto11V.S.A.chapter22; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 641 | | - | 2025 Page30of227 |
|---|
| 642 | | - | (B)anapplicationforregistrationforalimitedpartnershippursuant |
|---|
| 643 | | - | to11V.S.A.chapter23; |
|---|
| 644 | | - | (C)anapplicationforacertificateofauthorityforalimitedliability |
|---|
| 645 | | - | companypursuantto11V.S.A.chapter25; |
|---|
| 646 | | - | (D)anapplicationforacertificateofauthorityforabusiness |
|---|
| 647 | | - | corporationpursuanttoTitle11A; |
|---|
| 648 | | - | (E)anapplicationforacertificateofauthorityforanonprofit |
|---|
| 649 | | - | corporationpursuanttoTitle11B;and |
|---|
| 650 | | - | (F)anapplicationforacertificateofauthorityofaforeign |
|---|
| 651 | | - | enterprisepursuanttoTitle11C; |
|---|
| 652 | | - | (3)$75.00foraregistrationorreregistrationofanassumedbusiness |
|---|
| 653 | | - | name,partnership,orunincorporatednonprofitassociationpursuantto11 |
|---|
| 654 | | - | V.S.A.chapter15; |
|---|
| 655 | | - | (4)$50.00fortheannualreportofadomesticbusinessorganization; |
|---|
| 656 | | - | (5)$175.00fortheannualreportofaforeignbusinessorganization; |
|---|
| 657 | | - | (6)$35.00forthebiennialreportofanonprofitcorporation,exceptthat |
|---|
| 658 | | - | theSecretaryshallwaivethefeeforthebiennialreportofanonprofit |
|---|
| 659 | | - | corporationthatinthepriorcalendaryeardidnotpaycompensationtoany |
|---|
| 660 | | - | officer,director,oremployee;and |
|---|
| 661 | | - | (7)$35.00forrecordinganyotherdocumentsubmittedforfilingandfor |
|---|
| 662 | | - | anyrelatedfees,includingfeesforacertifiedcopy,forareturnedcheckor BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 663 | | - | 2025 Page31of227 |
|---|
| 664 | | - | chargeback,foreachyearareinstatementfeeisdue,andforserviceof |
|---|
| 665 | | - | processontheSecretary. |
|---|
| 666 | | - | §1652.RESERVEDNAME |
|---|
| 667 | | - | (a)Apersonmayreservetheexclusiveuseofabusinessnameby |
|---|
| 668 | | - | deliveringanapplicationtotheSecretaryofStateforfiling.Theapplication |
|---|
| 669 | | - | shallstatethenameandaddressoftheapplicantandthenametobereserved. |
|---|
| 670 | | - | IftheSecretaryfindsthattheentitynameisavailable,theSecretaryshall |
|---|
| 671 | | - | reservethenamefortheapplicant’sexclusiveusefor120days. |
|---|
| 672 | | - | (b)Theownerofareservednamemaytransferthereservationtoanother |
|---|
| 673 | | - | personbysubmittingtotheSecretaryofStateforfilinganoticeofthetransfer, |
|---|
| 674 | | - | whichstatesthenameandaddressofthetransferee. |
|---|
| 675 | | - | §1653.ASSUMEDBUSINESSNAMEOFBUSINESSORGANIZATION |
|---|
| 676 | | - | AbusinessorganizationthatisauthorizedtodobusinessinthisStatemay |
|---|
| 677 | | - | conductbusinessunderanassumednamebysubmittingtotheSecretaryof |
|---|
| 678 | | - | Stateforfilingaregistrationthatidentifiestheauthorizedbusinessandthe |
|---|
| 679 | | - | assumedname. |
|---|
| 680 | | - | §1654.[Reserved] |
|---|
| 681 | | - | §1655.DESIGNATIONOFAGENTFORSERVICEOFPROCESS; |
|---|
| 682 | | - | CHANGE;RESIGNATION |
|---|
| 683 | | - | (a)Dutytodesignateagentforserviceofprocess.Apersondoingbusiness |
|---|
| 684 | | - | inthisStatethatisrequiredtodesignateandmaintainanagentforserviceof BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 685 | | - | 2025 Page32of227 |
|---|
| 686 | | - | processshallprovidethename,email,andaddressinformationofan |
|---|
| 687 | | - | individualresidentofthisStateorofabusinessorganizationthathasaplace |
|---|
| 688 | | - | ofbusinessin,andisauthorizedtoconductbusinessin,thisState. |
|---|
| 689 | | - | (b)Attestation.Apersonwhodesignatesanagentforserviceofprocess |
|---|
| 690 | | - | atteststhattheagentconsentstotheappointment. |
|---|
| 691 | | - | (c)Dutytomaintaincurrentagentinformation;statementofchange. |
|---|
| 692 | | - | Exceptasprovidedinsubsection(d)ofthissection,apersonregisteredwith |
|---|
| 693 | | - | theSecretaryofStatemaychangeitsagentforserviceofprocess,orthe |
|---|
| 694 | | - | agent’semailoraddressinformation,solelybysubmittingtotheSecretaryof |
|---|
| 695 | | - | Stateforfilingastatementofchangethatprovidesitscurrentagent |
|---|
| 696 | | - | informationandspecifiesanychangestotheagentinformation. |
|---|
| 697 | | - | (d)Bulkstatementofchangebyagent. |
|---|
| 698 | | - | (1)Ifanagentforserviceofprocesschangesitsname,email,oraddress |
|---|
| 699 | | - | informationintherecordsoftheSecretaryofState,theagentmaysubmitto |
|---|
| 700 | | - | theSecretaryforfilingabulkstatementofchangethat: |
|---|
| 701 | | - | (A)identifiesthebusinessesforwhichtheagentservesastheagent |
|---|
| 702 | | - | forserviceofprocessandwhoserecordstheSecretaryshallupdatetoreflect |
|---|
| 703 | | - | thechangetotheagent’sinformation;and |
|---|
| 704 | | - | (B)atteststhattheagenthasorwillpromptlyprovidenoticetoeach |
|---|
| 705 | | - | businesswhoserecordisupdatedpursuanttothebulkstatementofchange. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 706 | | - | 2025 Page33of227 |
|---|
| 707 | | - | (2)Forabulkstatementofchange,theSecretaryofStateshallcollect |
|---|
| 708 | | - | fromtheagentaseparatefilingfeeforeachbusinesswhoserecordis |
|---|
| 709 | | - | amended. |
|---|
| 710 | | - | (e)Agentresignation;termination. |
|---|
| 711 | | - | (1)Anagentforserviceofprocessmayresignasagentbysubmittingto |
|---|
| 712 | | - | theSecretaryofStateforfilingastatementofresignationanddeliveringa |
|---|
| 713 | | - | copyofthestatementtotheaffectedbusiness. |
|---|
| 714 | | - | (2)Anagencyforserviceofprocessterminatesontheearlierof: |
|---|
| 715 | | - | (A)30daysaftertheSecretaryfilesastatementofresignation;or |
|---|
| 716 | | - | (B)thedateonwhichastatementofchangedesignatinganewagent |
|---|
| 717 | | - | takeseffect. |
|---|
| 718 | | - | (3)TheSecretaryshallwaivethefilingfeeforastatementofresignation |
|---|
| 719 | | - | iftheagentonrecordatteststhatitdidnotconsenttoserveasagentfor |
|---|
| 720 | | - | serviceofprocess. |
|---|
| 721 | | - | §1655.SECRETARYOFSTATEASAGENTFORSERVICEOF |
|---|
| 722 | | - | PROCESS |
|---|
| 723 | | - | (a)Anagentforserviceofprocessappointedbyapersonregisteredwith |
|---|
| 724 | | - | theSecretaryofStateisanagentforserviceofanyprocess,notice,ordemand |
|---|
| 725 | | - | requiredorpermittedbylawtobeservedupontheperson. |
|---|
| 726 | | - | (b)IfapersonregisteredwiththeSecretaryofStatefailstoappointor |
|---|
| 727 | | - | maintainanagentforserviceofprocessinthisStateasrequiredbylaw,orthe BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 728 | | - | 2025 Page34of227 |
|---|
| 729 | | - | agentforserviceofprocesscannotwithreasonablediligencebefoundatthe |
|---|
| 730 | | - | agent’saddress,theSecretaryofStateisanagentofthepersonuponwhom |
|---|
| 731 | | - | process,notice,ordemandmaybeserved. |
|---|
| 732 | | - | (c)(1)Serviceofanyprocess,notice,ordemandontheSecretaryofState |
|---|
| 733 | | - | maybemadebydeliveringtoandleavingwiththeSecretaryofStateduplicate |
|---|
| 734 | | - | copiesoftheprocess,notice,ordemand. |
|---|
| 735 | | - | (2)Iftheprocess,notice,ordemandisservedontheSecretaryofState, |
|---|
| 736 | | - | theSecretaryofStateshallforwardoneofthecopiesbyregisteredorcertified |
|---|
| 737 | | - | mail,returnreceiptrequested,tothecompanyatitsprincipalofficeorlast |
|---|
| 738 | | - | knownaddress. |
|---|
| 739 | | - | (d)TheSecretaryofStateshallkeeparecordofallprocesses,notices,and |
|---|
| 740 | | - | demandsservedpursuanttothissectionandrecordthetimeofandtheaction |
|---|
| 741 | | - | takenregardingtheservice. |
|---|
| 742 | | - | (e)Thissectionshallnotaffecttherighttoserveprocess,notice,or |
|---|
| 743 | | - | demanduponapersoninanymannerotherwiseprovidedbylaw. |
|---|
| 744 | | - | § 1656.SECRETARYOFSTATEASAGENTFORSERVICEOF |
|---|
| 745 | | - | PROCESS |
|---|
| 746 | | - | (a)Anagentforserviceofprocessappointedbyapersonregisteredwith |
|---|
| 747 | | - | theSecretaryofStateisanagentforserviceofanyprocess,notice,ordemand |
|---|
| 748 | | - | requiredorpermittedbylawtobeservedupontheperson. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 749 | | - | 2025 Page35of227 |
|---|
| 750 | | - | (b)IfapersonregisteredwiththeSecretaryofStatefailstoappointor |
|---|
| 751 | | - | maintainanagentforserviceofprocessinthisStateasrequiredbylaw,orthe |
|---|
| 752 | | - | agentforserviceofprocesscannotwithreasonablediligencebefoundatthe |
|---|
| 753 | | - | agent’saddress,theSecretaryofStateisanagentofthepersonuponwhom |
|---|
| 754 | | - | process,notice,ordemandmaybeserved. |
|---|
| 755 | | - | (c)(1)Serviceofanyprocess,notice,ordemandontheSecretaryofState |
|---|
| 756 | | - | maybemadebydeliveringtoandleavingwiththeSecretaryofStateduplicate |
|---|
| 757 | | - | copiesoftheprocess,notice,ordemand. |
|---|
| 758 | | - | (2)Iftheprocess,notice,ordemandisservedontheSecretaryofState, |
|---|
| 759 | | - | theSecretaryofStateshallforwardoneofthecopiesbyregisteredorcertified |
|---|
| 760 | | - | mail,returnreceiptrequested,tothecompanyatitsprincipalofficeorlast |
|---|
| 761 | | - | knownaddress. |
|---|
| 762 | | - | (d)Serviceiseffectiveontheearliestof: |
|---|
| 763 | | - | (1)thedatethepersonreceivestheprocess,notice,ordemand; |
|---|
| 764 | | - | (2)thedateshownonthereturnreceipt,ifsignedonbehalfofthe |
|---|
| 765 | | - | person;or |
|---|
| 766 | | - | (3)fivedaysaftertheprocess,notice,ordemandisdepositedbythe |
|---|
| 767 | | - | SecretaryofStatefordeliverybytheU.S.PostalService,ifpostageisprepaid |
|---|
| 768 | | - | totheaddressoftheprincipalofficeorlastknownaddressreflectedinthe |
|---|
| 769 | | - | recordsoftheSecretaryofState. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 770 | | - | 2025 Page36of227 |
|---|
| 771 | | - | (e)TheSecretaryofStateshallkeeparecordofallprocesses,notices,and |
|---|
| 772 | | - | demandsservedpursuanttothissectionandrecordthetimeofandtheaction |
|---|
| 773 | | - | takenregardingtheservice. |
|---|
| 774 | | - | (f)Thissectionshallnotaffecttherighttoserveprocess,notice,ordemand |
|---|
| 775 | | - | uponapersoninanymannerotherwiseprovidedbylaw. |
|---|
| 776 | | - | Sec.5.11V.S.A.chapter22isamendedtoread: |
|---|
| 777 | | - | CHAPTER22.PARTNERSHIPS |
|---|
| 778 | | - | *** |
|---|
| 779 | | - | §3205.EXECUTION,FILING,ANDRECORDINGOFSTATEMENTS |
|---|
| 780 | | - | *** |
|---|
| 781 | | - | (f)TheSecretaryofStateshallcollectafeeforfilingorprovidinga |
|---|
| 782 | | - | certifiedcopyofastatementassetforthinsection33101651ofthistitle. |
|---|
| 783 | | - | *** |
|---|
| 784 | | - | §3291.STATEMENTOFQUALIFICATION |
|---|
| 785 | | - | *** |
|---|
| 786 | | - | (c)Aftertheapprovalrequiredbysubsection(b)ofthissection,a |
|---|
| 787 | | - | partnershipmayonlybecomealimitedliabilitypartnershipbyfilinga |
|---|
| 788 | | - | statementofqualification.Thestatementmustcontain: |
|---|
| 789 | | - | (1)thenameofthepartnership; |
|---|
| 790 | | - | (2)thelocationoftheprincipalplaceofbusinessinthisState; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 791 | | - | 2025 Page37of227 |
|---|
| 792 | | - | (3)ifthepartnershipdoesnothaveaprincipalplaceofbusinessinthis |
|---|
| 793 | | - | State,thename,email,andstreetaddressinformationofthepartnership’s |
|---|
| 794 | | - | agentforserviceofprocesspursuanttosection1655ofthistitle; |
|---|
| 795 | | - | (4)astatementthatthepartnershipelectstobealimitedliability |
|---|
| 796 | | - | partnership;and |
|---|
| 797 | | - | (5)adeferredeffectivedate,ifany. |
|---|
| 798 | | - | (d)Theagentofalimitedliabilitypartnershipforserviceofprocessmust |
|---|
| 799 | | - | beanindividualwhoisaresidentofthisStateorotherpersonauthorizedto |
|---|
| 800 | | - | dobusinessinthisState.[Repealed.] |
|---|
| 801 | | - | (e)Thestatusofapartnershipasalimitedliabilitypartnershipiseffective |
|---|
| 802 | | - | onthelaterofthefilingofthestatementoradatespecifiedinthestatement. |
|---|
| 803 | | - | Thestatusremainseffective,regardlessofchangesinthepartnership,untilitis |
|---|
| 804 | | - | canceledpursuanttosubsection3205(d)ofthistitleorrevokedpursuantto |
|---|
| 805 | | - | section3293ofthistitle. |
|---|
| 806 | | - | *** |
|---|
| 807 | | - | §3293.ANNUALREPORT |
|---|
| 808 | | - | (a)Alimitedliabilitypartnership,andaforeignlimitedliability |
|---|
| 809 | | - | partnershipauthorizedtotransactbusinessinthisState,shallfileanannual |
|---|
| 810 | | - | reportintheOfficeoftheSecretaryofStatewhichthatcontains: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 811 | | - | 2025 Page38of227 |
|---|
| 812 | | - | (1)thenameofthelimitedliabilitypartnershipandthestateorother |
|---|
| 813 | | - | jurisdictionunderwhoselawstheforeignlimitedliabilitypartnershipis |
|---|
| 814 | | - | formed; |
|---|
| 815 | | - | (2)thestreetaddressofthepartnership’sprincipalofficeand,if |
|---|
| 816 | | - | different,thestreetaddressofanofficeinthisState,ifany;and |
|---|
| 817 | | - | (3)ifthepartnershipdoesnothaveanofficeinthisState,thename, |
|---|
| 818 | | - | email,andstreetaddressofthepartnership’sdesignatedagentforserviceof |
|---|
| 819 | | - | process. |
|---|
| 820 | | - | *** |
|---|
| 821 | | - | (f)Areinstatementundersubsection(e)ofthissectionrelatesbacktoand |
|---|
| 822 | | - | takeseffectasoftheeffectivedateoftherevocation,andthepartnership’s |
|---|
| 823 | | - | statusasalimitedliabilitypartnershipcontinuesasiftherevocationhadnever |
|---|
| 824 | | - | occurred. |
|---|
| 825 | | - | (g)TheSecretaryofStateshallamenditsrecordstoreflectachange,if |
|---|
| 826 | | - | specifiedinthereport,tothebusiness’spurpose,email,address,orprincipal |
|---|
| 827 | | - | information. |
|---|
| 828 | | - | *** |
|---|
| 829 | | - | §3302.STATEMENTOFFOREIGNQUALIFICATION |
|---|
| 830 | | - | (a)BeforetransactingbusinessinthisState,aforeignlimitedliability |
|---|
| 831 | | - | partnershipmustfileastatementofforeignqualification.Thestatementmust |
|---|
| 832 | | - | contain: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 833 | | - | 2025 Page39of227 |
|---|
| 834 | | - | *** |
|---|
| 835 | | - | (3)IfthereisnoofficeofthepartnershipinthisState,thename,email, |
|---|
| 836 | | - | andstreetaddressinformationofthepartnership’sagentforserviceofprocess |
|---|
| 837 | | - | pursuanttosection1655ofthistitle. |
|---|
| 838 | | - | (4)Adeferredeffectivedate,ifany. |
|---|
| 839 | | - | (b)Theagentofaforeignlimitedliabilitypartnershipforserviceofprocess |
|---|
| 840 | | - | mustbeanindividualwhoisaresidentofthisStateorotherpersonauthorized |
|---|
| 841 | | - | todobusinessinthisState.[Repealed.] |
|---|
| 842 | | - | (c)Thestatusofapartnershipasaforeignlimitedliabilitypartnershipis |
|---|
| 843 | | - | effectiveonthelaterofthefilingofthestatementofforeignqualificationora |
|---|
| 844 | | - | datespecifiedinthestatement.Thestatusremainseffective,regardlessof |
|---|
| 845 | | - | changesinthepartnership,untilitiscanceledpursuanttosubsection3205(d) |
|---|
| 846 | | - | orrevokedpursuanttosection3293ofthistitle. |
|---|
| 847 | | - | (d)Anamendmentorcancellationofastatementofforeignqualificationis |
|---|
| 848 | | - | effectivewhenitisfiledoronadeferredeffectivedatespecifiedinthe |
|---|
| 849 | | - | amendmentorcancellation. |
|---|
| 850 | | - | §3303.EFFECTOFFAILURETOQUALIFY |
|---|
| 851 | | - | (a)(1)Aforeignlimitedliabilitypartnershiptransactingbusinessinthis |
|---|
| 852 | | - | Statemaynotmaintainanactionorproceedingorraiseacounterclaim, |
|---|
| 853 | | - | crossclaim,oraffirmativedefenseinthisStateunlessithasineffecta |
|---|
| 854 | | - | statementofforeignqualification. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 855 | | - | 2025 Page40of227 |
|---|
| 856 | | - | (2)Thesuccessortoaforeignlimitedliabilitypartnershipthat |
|---|
| 857 | | - | transactedbusinessinthisStatewithoutacertificateofauthoritystatementof |
|---|
| 858 | | - | foreignqualificationineffectandtheassigneeofacauseofactionarisingout |
|---|
| 859 | | - | ofthatbusinessmaynotmaintainaproceedingorraiseacounterclaim, |
|---|
| 860 | | - | crossclaim,oraffirmativedefensebasedonthatcauseofactioninanycourtin |
|---|
| 861 | | - | thisStateuntiltheforeignlimitedliabilitypartnershiporitssuccessoror |
|---|
| 862 | | - | assigneeobtainsfilesacertificateofauthoritystatementofforeign |
|---|
| 863 | | - | qualification. |
|---|
| 864 | | - | *** |
|---|
| 865 | | - | §3310.FEES |
|---|
| 866 | | - | (a)TheSecretaryofStateshallcollectthefollowingfeeswhenadocument |
|---|
| 867 | | - | describedinthissectionisdeliveredtotheOfficeoftheSecretaryofStatefor |
|---|
| 868 | | - | filing: |
|---|
| 869 | | - | (1)Statementofauthority $155.00 |
|---|
| 870 | | - | (2)Statementofdenial $25.00 |
|---|
| 871 | | - | (3)Statementofdissociation $20.00 |
|---|
| 872 | | - | (4)Statementofdissolution $20.00 |
|---|
| 873 | | - | (5)Statementofmerger $85.00 |
|---|
| 874 | | - | (6)Statementofqualification $130.00 |
|---|
| 875 | | - | (7)Statementofforeignqualification $170.00 |
|---|
| 876 | | - | (8)Amendment $45.00 BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 877 | | - | 2025 Page41of227 |
|---|
| 878 | | - | (9)Cancellation $10.00 |
|---|
| 879 | | - | (10)Annualreportofdomesticlimited |
|---|
| 880 | | - | liabilitypartnership $30.00 |
|---|
| 881 | | - | (11)Annualreportofforeignlimited |
|---|
| 882 | | - | liabilitypartnership $170.00 |
|---|
| 883 | | - | (12)Reinstatement $45.00 |
|---|
| 884 | | - | (13)Statementofchangeofdesignated |
|---|
| 885 | | - | agentordesignatedoffice,orboth $35.00 |
|---|
| 886 | | - | notto |
|---|
| 887 | | - | exceed |
|---|
| 888 | | - | $1,000.00 |
|---|
| 889 | | - | per |
|---|
| 890 | | - | filer |
|---|
| 891 | | - | per |
|---|
| 892 | | - | calendar |
|---|
| 893 | | - | year |
|---|
| 894 | | - | (14)Applicationforcertificateofgoodstanding $45.00 |
|---|
| 895 | | - | (15)Anyotherdocumentpermittedorrequiredto |
|---|
| 896 | | - | befiledbythischapter $20.00 |
|---|
| 897 | | - | (16)Amendment–Foreign $35.00 |
|---|
| 898 | | - | (b)TheSecretaryofStateshallcollectthefollowingfees: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 899 | | - | 2025 Page42of227 |
|---|
| 900 | | - | (1)$25.00eachtimeprocessisservedontheSecretaryunderthis |
|---|
| 901 | | - | chapter.Thepartytoaproceedingcausingserviceofprocessisentitledto |
|---|
| 902 | | - | recoverthisfeeascostsifheorsheprevailsintheproceeding. |
|---|
| 903 | | - | (2)$25.00forthecertificatecertifyingthecopyofanyfileddocumentrelated |
|---|
| 904 | | - | toapartnership,limitedliabilitypartnership,oraforeignlimitedliability |
|---|
| 905 | | - | partnershipApersonwhosubmitsadocumentforfilingpursuanttothis |
|---|
| 906 | | - | chaptershallpaytotheSecretaryofStatetheamountspecifiedinsection1651 |
|---|
| 907 | | - | ofthistitle. |
|---|
| 908 | | - | *** |
|---|
| 909 | | - | Sec.6.11V.S.A.chapter23isamendedtoread: |
|---|
| 910 | | - | CHAPTER23.LIMITEDPARTNERSHIPS |
|---|
| 911 | | - | *** |
|---|
| 912 | | - | §3403.RESERVATIONOFNAME |
|---|
| 913 | | - | (a)Theexclusiverighttotheuseofanamemaybereservedby: |
|---|
| 914 | | - | (1)anypersonintendingtoorganizealimitedpartnershipunderthis |
|---|
| 915 | | - | chapterandtoadoptthatname; |
|---|
| 916 | | - | (2)anydomesticlimitedpartnershiporanyforeignlimitedpartnership |
|---|
| 917 | | - | registeredinthisStatewhich,ineithercase,intendstoadoptthatname; |
|---|
| 918 | | - | (3)anyforeignlimitedpartnershipintendingtoregisterinthisStateand |
|---|
| 919 | | - | adoptthatname;and BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 920 | | - | 2025 Page43of227 |
|---|
| 921 | | - | (4)anypersonintendingtoorganizeaforeignlimitedpartnershipand |
|---|
| 922 | | - | intendingtohaveitregisteredinthisStateandtoadoptthatname. |
|---|
| 923 | | - | (b)ThereservationshallbemadebyfilingwiththeSecretaryofStatean |
|---|
| 924 | | - | application,executedbytheapplicant,toreserveaspecifiedname.Ifthe |
|---|
| 925 | | - | SecretaryofStatefindsthatthenameisavailableforusebyadomesticor |
|---|
| 926 | | - | foreignlimitedpartnership,heorsheshallreservethenamefortheexclusive |
|---|
| 927 | | - | useoftheapplicantforaperiodof120days.Theownerofanamereserved |
|---|
| 928 | | - | underthissectionmayrenewthereservationfortwosuccessiveperiodsof120 |
|---|
| 929 | | - | dayseach.Therighttotheexclusiveuseofareservednamemaybe |
|---|
| 930 | | - | transferredtoanyotherpersonbyfilingintheOfficeoftheSecretaryofState |
|---|
| 931 | | - | anoticeofthetransfer,executedbytheapplicantforwhomthenamewas |
|---|
| 932 | | - | reservedandspecifyingthenameandaddressofthetransfereeApersonmay |
|---|
| 933 | | - | reservetheexclusiveuseofabusinessnamebydeliveringanapplicationtothe |
|---|
| 934 | | - | SecretaryofStateforfilingpursuanttosection1652ofthistitle. |
|---|
| 935 | | - | §3404.SPECIFIEDOFFICEANDAGENT |
|---|
| 936 | | - | EachlimitedpartnershipshallcontinuouslymaintaininthisState: |
|---|
| 937 | | - | (1)anoffice,whichmaybutneednotbeaplaceofitsbusinessinthis |
|---|
| 938 | | - | State,atwhichshallbekepttherecordsrequiredbysection3405ofthistitleto |
|---|
| 939 | | - | bemaintained;and |
|---|
| 940 | | - | (2)anagentforserviceofprocessonthelimitedpartnership,which |
|---|
| 941 | | - | agentmustbeanindividualresidentofthisState,adomesticcorporation, BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 942 | | - | 2025 Page44of227 |
|---|
| 943 | | - | partnership,limitedliabilitycompany,oraforeigncorporation,partnership, |
|---|
| 944 | | - | orlimitedliabilitycompanyauthorizedtodobusinessinthisStatepursuantto |
|---|
| 945 | | - | section1655ofthistitle. |
|---|
| 946 | | - | *** |
|---|
| 947 | | - | §3411.CERTIFICATEOFLIMITEDPARTNERSHIP |
|---|
| 948 | | - | (a)Inordertoformalimitedpartnership,acertificateoflimited |
|---|
| 949 | | - | partnershipmustbeexecutedandfiledintheOfficeoftheSecretaryofState. |
|---|
| 950 | | - | Thecertificateshallsetforth: |
|---|
| 951 | | - | (1)thenameofthelimitedpartnership; |
|---|
| 952 | | - | (2)theaddressoftheofficeandthename,email,andaddress |
|---|
| 953 | | - | informationoftheagentforserviceofprocessrequiredtobemaintainedby |
|---|
| 954 | | - | section3404ofthistitle; |
|---|
| 955 | | - | (3)thenameandthebusinessaddressofeachgeneralpartner,andof |
|---|
| 956 | | - | anyotherprincipalthelimitedpartnershipprovides; |
|---|
| 957 | | - | (4)thenameandplaceofresidencethebusinessaddressofeachlimited |
|---|
| 958 | | - | partnerandtheamountofcashandadescriptionofandtheagreedvalueof |
|---|
| 959 | | - | otherpropertycontributedbyeachlimitedpartner; |
|---|
| 960 | | - | *** |
|---|
| 961 | | - | §3420.FEES BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 962 | | - | 2025 Page45of227 |
|---|
| 963 | | - | (a)TheSecretaryofStateshallcollectthefollowingfeeswhenadocument |
|---|
| 964 | | - | describedinthissectionisdeliveredtotheOfficeoftheSecretaryofStatefor |
|---|
| 965 | | - | filing: |
|---|
| 966 | | - | (1)CertificateofLimitedPartnership $130.00 |
|---|
| 967 | | - | (2)RegistrationofForeignLimitedPartnership $155.00 |
|---|
| 968 | | - | (3)Amendment–Domestic $35.00 |
|---|
| 969 | | - | (4)Cancellation $25.00 |
|---|
| 970 | | - | (5)Merger $65.00 |
|---|
| 971 | | - | (6)Statementofchange |
|---|
| 972 | | - | ofdesignatedagent |
|---|
| 973 | | - | ordesignatedoffice,orboth $35.00 |
|---|
| 974 | | - | notto |
|---|
| 975 | | - | exceed |
|---|
| 976 | | - | $1,000.00 |
|---|
| 977 | | - | per |
|---|
| 978 | | - | filer |
|---|
| 979 | | - | per |
|---|
| 980 | | - | calendaryear |
|---|
| 981 | | - | (7)Applicationforcertificateofgoodstanding $35.00 |
|---|
| 982 | | - | (8)Anyotherdocumentpermittedorrequiredto |
|---|
| 983 | | - | befiledbythischapter $20.00 BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 984 | | - | 2025 Page46of227 |
|---|
| 985 | | - | (9)Amendment–Foreign $35.00. |
|---|
| 986 | | - | (10)Namereservation,application $20.00. |
|---|
| 987 | | - | (11)Namereservation,transfer $20.00. |
|---|
| 988 | | - | (12)Restatedcertificateoflimitedpartnership $20.00. |
|---|
| 989 | | - | (b)TheSecretaryofStateshallcollectthefollowingfees: |
|---|
| 990 | | - | (1)$25.00eachtimeprocessisservedontheSecretaryunderthis |
|---|
| 991 | | - | chapter.Thepartytoaproceedingcausingserviceofprocessisentitledto |
|---|
| 992 | | - | recoverthisfeeascostsifheorsheprevailsintheproceeding. |
|---|
| 993 | | - | (2)$25.00forthecertificatecertifyingthecopyofanyfileddocument |
|---|
| 994 | | - | relatedtoapartnership,limitedliabilitypartnership,oraforeignlimited |
|---|
| 995 | | - | liabilitypartnershipApersonwhosubmitsadocumentforfilingpursuantto |
|---|
| 996 | | - | thischaptershallpaytotheSecretaryofStatetheamountspecifiedinsection |
|---|
| 997 | | - | 1651ofthistitle. |
|---|
| 998 | | - | *** |
|---|
| 999 | | - | §3482.REGISTRATION |
|---|
| 1000 | | - | BeforetransactingbusinessinthisState,aforeignlimitedpartnershipshall |
|---|
| 1001 | | - | registerwiththeSecretaryofState.Inordertoregister,aforeignlimited |
|---|
| 1002 | | - | partnershipshallsubmittotheSecretaryofState,induplicate,anapplication |
|---|
| 1003 | | - | forregistrationasaforeignlimitedpartnership,signedandsworntobya |
|---|
| 1004 | | - | generalpartnerandsettingforth: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1005 | | - | 2025 Page47of227 |
|---|
| 1006 | | - | (1)thenameoftheforeignlimitedpartnershipand,ifdifferent,the |
|---|
| 1007 | | - | nameunderwhichitproposestoregisterandtransactbusinessinthisState; |
|---|
| 1008 | | - | (2)thestateanddateofitsformation; |
|---|
| 1009 | | - | (3)thename,email,andaddressinformationofanyagentforserviceof |
|---|
| 1010 | | - | processontheforeignlimitedpartnershipwhomtheforeignlimited |
|---|
| 1011 | | - | partnershipelectstoappoint;theagentmustbeanindividualresidentofthis |
|---|
| 1012 | | - | State,adomesticcorporation,oraforeigncorporationhavingaplaceof |
|---|
| 1013 | | - | businessin,andauthorizedtodobusinessin,thisStatepursuanttosection |
|---|
| 1014 | | - | 1655ofthistitle; |
|---|
| 1015 | | - | (4)astatementthattheSecretaryofStateisappointedtheagentofthe |
|---|
| 1016 | | - | foreignlimitedpartnershipforserviceofprocessifnoagenthasbeen |
|---|
| 1017 | | - | appointedundersubdivision(3)ofthissectionor,ifappointed,theagent’s |
|---|
| 1018 | | - | authorityhasbeenrevokedoriftheagentcannotbefoundorservedwiththe |
|---|
| 1019 | | - | exerciseofreasonablediligence; |
|---|
| 1020 | | - | (5)theaddressoftheofficerequiredtobemaintainedinthestateofits |
|---|
| 1021 | | - | organizationbythelawsofthatstateor,ifnotsorequired,oftheprincipal |
|---|
| 1022 | | - | officeoftheforeignlimitedpartnership; |
|---|
| 1023 | | - | (6)thenameandbusinessaddressofeachgeneralpartner,andofany |
|---|
| 1024 | | - | otherprincipaltheforeignlimitedpartnershipprovides;and |
|---|
| 1025 | | - | (7)theaddressoftheofficeatwhichiskeptalistofthenamesand |
|---|
| 1026 | | - | addressesofthelimitedpartnersandtheircapitalcontributions,togetherwith BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1027 | | - | 2025 Page48of227 |
|---|
| 1028 | | - | anundertakingbytheforeignlimitedpartnershiptokeepthoserecordsuntil |
|---|
| 1029 | | - | theforeignlimitedpartnership’sregistrationinthisStateiscanceledor |
|---|
| 1030 | | - | withdrawn. |
|---|
| 1031 | | - | *** |
|---|
| 1032 | | - | §3487.TRANSACTIONOFBUSINESSWITHOUTREGISTRATION |
|---|
| 1033 | | - | (a)(1)AforeignlimitedpartnershiptransactingbusinessinthisStatemay |
|---|
| 1034 | | - | notmaintainanactionorproceedingorraiseacounterclaim,crossclaim,or |
|---|
| 1035 | | - | affirmativedefenseinthisStateuntilithasregisteredinthisState. |
|---|
| 1036 | | - | (2)Thesuccessortoaforeignlimitedpartnershipthattransacted |
|---|
| 1037 | | - | businessinthisStatewithoutacertificateofauthorityregistrationandthe |
|---|
| 1038 | | - | assigneeofacauseofactionarisingoutofthatbusinessmaynotmaintaina |
|---|
| 1039 | | - | proceedingorraiseacounterclaim,crossclaim,oraffirmativedefensebased |
|---|
| 1040 | | - | onthatcauseofactioninanycourtinthisStateuntiltheforeignlimited |
|---|
| 1041 | | - | partnershiporitssuccessororassigneeobtainsacertificateofauthorityhas |
|---|
| 1042 | | - | registered. |
|---|
| 1043 | | - | *** |
|---|
| 1044 | | - | Sec.7.11V.S.A.chapter25isamendedtoread: |
|---|
| 1045 | | - | CHAPTER25.LIMITEDLIABILITYCOMPANIES |
|---|
| 1046 | | - | *** |
|---|
| 1047 | | - | §4006.RESERVEDNAME |
|---|
| 1048 | | - | (a)(1)Apersonmayreservetheexclusiveuseofthenameofalimited BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1049 | | - | 2025 Page49of227 |
|---|
| 1050 | | - | liabilitycompany,includingafictitiousorassumednameforaforeignlimited |
|---|
| 1051 | | - | liabilitycompanywhosenameisnotavailable,bydeliveringanapplicationto |
|---|
| 1052 | | - | theSecretaryofStateforfiling. |
|---|
| 1053 | | - | (2)Theapplicationshallstatethenameandaddressoftheapplicantand |
|---|
| 1054 | | - | thenameproposedtobereserved. |
|---|
| 1055 | | - | (3)IftheSecretaryofStatefindsthatthenameappliedforisavailable, |
|---|
| 1056 | | - | theSecretaryshallreservethatnamefortheapplicant’sexclusiveusefora |
|---|
| 1057 | | - | 120-dayperiod. |
|---|
| 1058 | | - | (b)Theownerofareservedlimitedliabilitycompanynamemayrenewthe |
|---|
| 1059 | | - | reservationforsuccessiveperiodsof120dayseachbydeliveringarenewal |
|---|
| 1060 | | - | applicationtotheSecretaryofStateduringthe45-dayperiodprecedingthe |
|---|
| 1061 | | - | dateofexpirationofthereservation. |
|---|
| 1062 | | - | (c)Theownerofanamereservedforalimitedliabilitycompanymay |
|---|
| 1063 | | - | assignthereservationtoanotherpersonbydeliveringtotheSecretaryofState |
|---|
| 1064 | | - | forfilingasignednoticeoftheassignmentthatstatesthenameandaddressof |
|---|
| 1065 | | - | theassignee. |
|---|
| 1066 | | - | (d)Theownerofareservedlimitedliabilitycompanynamemayterminate |
|---|
| 1067 | | - | thenamereservationbydeliveringtotheSecretaryofStateforfilingasigned |
|---|
| 1068 | | - | noticeofwithdrawalofnamereservationApersonmayreservetheexclusive |
|---|
| 1069 | | - | useofabusinessnamebydeliveringanapplicationtotheSecretaryofState |
|---|
| 1070 | | - | forfilingpursuanttosection1652ofthistitle. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1071 | | - | 2025 Page50of227 |
|---|
| 1072 | | - | §4007.DESIGNATEDOFFICEANDAGENT |
|---|
| 1073 | | - | (a)Alimitedliabilitycompanyandaforeignlimitedliabilitycompany |
|---|
| 1074 | | - | authorizedtodobusinessinthisStateshalldesignateandcontinuously |
|---|
| 1075 | | - | maintain: |
|---|
| 1076 | | - | (1)adesignatedofficefornotificationpurposes,whichmaybutneed |
|---|
| 1077 | | - | notbeaplaceofitsbusiness,andmaybutneednotbelocatedinthisState; |
|---|
| 1078 | | - | and |
|---|
| 1079 | | - | (2)anagentandstreetaddressoftheagentforserviceofprocessonthe |
|---|
| 1080 | | - | limitedliabilitycompanyinthisStatepursuanttosection1655ofthistitle. |
|---|
| 1081 | | - | (b)Anagentforserviceofprocessshallbeanindividualresidentofthis |
|---|
| 1082 | | - | State,adomesticcorporation,anotherlimitedliabilitycompany,oraforeign |
|---|
| 1083 | | - | corporationorforeignlimitedliabilitycompanyauthorizedtodobusinessin |
|---|
| 1084 | | - | thisState. |
|---|
| 1085 | | - | §4008.CHANGEOFDESIGNATEDOFFICEORAGENTFORSERVICE |
|---|
| 1086 | | - | OFPROCESS |
|---|
| 1087 | | - | (a)Alimitedliabilitycompanyorforeignlimitedliabilitycompanymay |
|---|
| 1088 | | - | changeitsdesignatedofficeoragentforserviceofprocessbydeliveringtothe |
|---|
| 1089 | | - | SecretaryofStateforfilingastatementofchangethatsetsforth:itscurrent |
|---|
| 1090 | | - | designatedofficeinformationandanychangetotheinformation. |
|---|
| 1091 | | - | (1)thenameofthecompany; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1092 | | - | 2025 Page51of227 |
|---|
| 1093 | | - | (2)thestreetaddress,andthemailingaddressifdifferentfromthestreet |
|---|
| 1094 | | - | address,ofitscurrentdesignatedoffice; |
|---|
| 1095 | | - | (3)ifthecurrentdesignatedofficeistobechanged,thestreetaddress, |
|---|
| 1096 | | - | andthemailingaddressifdifferentfromthestreetaddress,ofthenew |
|---|
| 1097 | | - | designatedoffice; |
|---|
| 1098 | | - | (4)thenameandaddressofitscurrentagentforserviceofprocess;and |
|---|
| 1099 | | - | (5)ifthecurrentagentforserviceofprocessistobechanged,thename |
|---|
| 1100 | | - | ofthenewagentforserviceofprocessandthenewagent’swrittenconsent, |
|---|
| 1101 | | - | eitheronthestatementorattachedtoit,totheappointment. |
|---|
| 1102 | | - | (b)Ifanagentforserviceofprocesschangesthestreetaddressofthe |
|---|
| 1103 | | - | agent’sbusinessoffice,theagentmaychangethestreetaddressofthe |
|---|
| 1104 | | - | designatedofficeofanylimitedliabilitycompanyorforeignlimitedliability |
|---|
| 1105 | | - | companyforwhichtheagentistheagentforserviceofprocessbynotifyingthe |
|---|
| 1106 | | - | companyinwritingofthechangeandsigning,eithermanuallyorinfacsimile, |
|---|
| 1107 | | - | andfilingwiththeSecretaryofStateastatementthatcomplieswiththe |
|---|
| 1108 | | - | requirementsofsubsection(a)ofthissectionandrecitesthatthecompanyhas |
|---|
| 1109 | | - | beennotifiedofthechangeAlimitedliabilitycompanyorforeignlimited |
|---|
| 1110 | | - | liabilitycompanyshallchangeitsagentforserviceofprocess,ortheagent’s |
|---|
| 1111 | | - | emailoraddressinformation,bydeliveringtotheSecretaryforfilinga |
|---|
| 1112 | | - | statementofchangepursuanttosection1655ofthistitle. |
|---|
| 1113 | | - | §4009.RESIGNATIONOFAGENTFORSERVICEOFPROCESS BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1114 | | - | 2025 Page52of227 |
|---|
| 1115 | | - | (a)Toresignasanagentforserviceofprocessofalimitedliability |
|---|
| 1116 | | - | companyorforeignlimitedliabilitycompany,theagentshalldelivertothe |
|---|
| 1117 | | - | SecretaryofStateforfilingastatementofresignationcontainingthecompany |
|---|
| 1118 | | - | nameandstatingthattheagentisresigningpursuanttosection1655ofthis |
|---|
| 1119 | | - | title. |
|---|
| 1120 | | - | (b)TheSecretaryofStateshallfileastatementofresignationdelivered |
|---|
| 1121 | | - | undersubsection(a)ofthissectionandmailorotherwisedeliveracopytothe |
|---|
| 1122 | | - | designatedofficeofthelimitedliabilitycompany. |
|---|
| 1123 | | - | (c)Anagencyforserviceofprocessterminatesontheearlierof: |
|---|
| 1124 | | - | (1)the41stdayaftertheSecretaryofStatefilesthestatementof |
|---|
| 1125 | | - | resignation;or |
|---|
| 1126 | | - | (2)whenarecorddesignatinganewagentforserviceofprocessis |
|---|
| 1127 | | - | deliveredtotheSecretaryofStateforfilingonbehalfofthelimitedliability |
|---|
| 1128 | | - | companyandbecomeseffective. |
|---|
| 1129 | | - | §4010.SERVICEOFPROCESS |
|---|
| 1130 | | - | (a)Anagentforserviceofprocessappointedbyalimitedliabilitycompany |
|---|
| 1131 | | - | oraforeignlimitedliabilitycompanyisanagentofthecompanyforserviceof |
|---|
| 1132 | | - | anyprocess,notice,ordemandrequiredorpermittedbylawtobeservedupon |
|---|
| 1133 | | - | thecompany. |
|---|
| 1134 | | - | (b)Ifalimitedliabilitycompanyorforeignlimitedliabilitycompanyfails |
|---|
| 1135 | | - | toappointormaintainanagentforserviceofprocessinthisStateortheagent BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1136 | | - | 2025 Page53of227 |
|---|
| 1137 | | - | forserviceofprocesscannotwithreasonablediligencebefoundattheagent’s |
|---|
| 1138 | | - | address,theSecretaryofStateisanagentofthecompanyuponwhomprocess, |
|---|
| 1139 | | - | notice,ordemandmaybeserved. |
|---|
| 1140 | | - | (c)Serviceofanyprocess,notice,ordemandontheSecretaryofStatemay |
|---|
| 1141 | | - | bemadebydeliveringtoandleavingwiththeSecretaryofStateduplicate |
|---|
| 1142 | | - | copiesoftheprocess,notice,ordemand.Iftheprocess,notice,ordemandis |
|---|
| 1143 | | - | servedontheSecretaryofState,theSecretaryofStateshallforwardoneofthe |
|---|
| 1144 | | - | copiesbyregisteredorcertifiedmail,returnreceiptrequested,tothecompany |
|---|
| 1145 | | - | atitsregisteredoffice.ServiceontheSecretaryofStateshallbereturnablein |
|---|
| 1146 | | - | notlessthan30days. |
|---|
| 1147 | | - | (d)TheSecretaryofStateshallkeeparecordofallprocesses,notices,and |
|---|
| 1148 | | - | demandsservedpursuanttothissectionandrecordthetimeofandtheaction |
|---|
| 1149 | | - | takenregardingtheservice. |
|---|
| 1150 | | - | (e)Thissectionshallnotaffecttherighttoserveprocess,notice,ordemand |
|---|
| 1151 | | - | uponalimitedliabilitycompanyorforeignlimitedliabilitycompanyinany |
|---|
| 1152 | | - | mannerotherwiseprovidedbylawAlimitedliabilitycompanyorforeign |
|---|
| 1153 | | - | limitedliabilitycompanyissubjecttotheserviceofprocessprovisionsin |
|---|
| 1154 | | - | section1656ofthistitle. |
|---|
| 1155 | | - | *** |
|---|
| 1156 | | - | §4012.FEES BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1157 | | - | 2025 Page54of227 |
|---|
| 1158 | | - | (a)TheSecretaryofStateshallcollectthefollowingfeeswhenadocument |
|---|
| 1159 | | - | describedinthissectionisdeliveredtotheOfficeoftheSecretaryofStatefor |
|---|
| 1160 | | - | filing: |
|---|
| 1161 | | - | (1)Articlesoforganization $155.00 |
|---|
| 1162 | | - | (2)Applicationforcertificateofauthority $155.00 |
|---|
| 1163 | | - | (3)Amendmentofarticlesorcertificateofauthority $35.00 |
|---|
| 1164 | | - | (4)Cancellationofcertificateofauthority $25.00 |
|---|
| 1165 | | - | (5)Applicationforreservedname $25.00 |
|---|
| 1166 | | - | (6)Noticeoftransferofreservedname $20.00 |
|---|
| 1167 | | - | (7)Applicationforregisteredname $25.00 |
|---|
| 1168 | | - | (8)Applicationforrenewalofregisteredname $25.00 |
|---|
| 1169 | | - | (9)Statementofchangeofdesignatedagentordesignatedoffice,orboth |
|---|
| 1170 | | - | $35.00andnottoexceed$1,000.00perfilerpercalendaryear |
|---|
| 1171 | | - | (10)Agent’sstatementofresignation nofee |
|---|
| 1172 | | - | (11)Restatementofarticlesoforganization $25.00 |
|---|
| 1173 | | - | (12)Articlesofcorrection $35.00 |
|---|
| 1174 | | - | (13)Applicationforcertificateofexistenceorauthorization$35.00 |
|---|
| 1175 | | - | (14)Articlesofmerger $55.00 |
|---|
| 1176 | | - | (15)Annualreportofadomesticlimitedliabilitycompany $45.00 |
|---|
| 1177 | | - | (16)Annualreportofaforeignlimitedliabilitycompany $170.00 |
|---|
| 1178 | | - | (17)Reinstatement $35.00 BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1179 | | - | 2025 Page55of227 |
|---|
| 1180 | | - | (18)Anyotherdocumentrequiredorpermittedtobefiledbythis |
|---|
| 1181 | | - | chapter $20.00 |
|---|
| 1182 | | - | (19)Articlesofdomestication $20.00 |
|---|
| 1183 | | - | (20)Articlesoftermination $20.00 |
|---|
| 1184 | | - | (21)Noticeofwithdrawalofreservedname $20.00 |
|---|
| 1185 | | - | (22)Statementofconversion $20.00 |
|---|
| 1186 | | - | (b)TheSecretaryofStateshallcollectthefollowingfees: |
|---|
| 1187 | | - | (1)$35.00eachtimeprocessisservedontheSecretaryunderthis |
|---|
| 1188 | | - | chapter.Thepartytoaproceedingcausingserviceofprocessisentitledto |
|---|
| 1189 | | - | recoverthisfeeascostsifthepartyprevailsintheproceeding. |
|---|
| 1190 | | - | (2)$25.00forthecertificatecertifyingthecopyofanyfileddocument |
|---|
| 1191 | | - | relatingtoalimitedliabilitycompanyoraforeignlimitedliabilitycompanyA |
|---|
| 1192 | | - | personwhosubmitsadocumentforfilingpursuanttothischaptershallpayto |
|---|
| 1193 | | - | theSecretaryofStatetheamountspecifiedinsection1651ofthistitle. |
|---|
| 1194 | | - | *** |
|---|
| 1195 | | - | §4023.ARTICLESOFORGANIZATION |
|---|
| 1196 | | - | *** |
|---|
| 1197 | | - | (b)Articlesoforganizationofalimitedliabilitycompanymaysetforth: |
|---|
| 1198 | | - | (1)provisionspermittedtobesetforthinanoperatingagreement;and |
|---|
| 1199 | | - | (2)name,email,andaddressinformationforoneormoreowners, |
|---|
| 1200 | | - | officers,orotherprincipalsofthecompany;and BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1201 | | - | 2025 Page56of227 |
|---|
| 1202 | | - | (3)othermattersnotinconsistentwithlaw. |
|---|
| 1203 | | - | *** |
|---|
| 1204 | | - | §4033.ANNUALREPORTFORSECRETARYOFSTATE |
|---|
| 1205 | | - | (a)Eachdomesticlimitedliabilitycompanyandeachforeignlimited |
|---|
| 1206 | | - | liabilitycompanyauthorizedtotransactbusinessinthisStateshallfilean |
|---|
| 1207 | | - | annualreportwiththeSecretaryofState.Theannualreportshallsetforththe |
|---|
| 1208 | | - | followinginformation: |
|---|
| 1209 | | - | (1)thenameofthecompanyandthestateorcountryunderwhoselawit |
|---|
| 1210 | | - | isorganized;and |
|---|
| 1211 | | - | (2)theaddressofitsdesignatedoffice;and |
|---|
| 1212 | | - | (3)thename,email,andaddressofitsdesignatedagentforserviceof |
|---|
| 1213 | | - | processatthatofficeinthisState. |
|---|
| 1214 | | - | (b)Informationintheannualreportshallbecurrentasofthedatethe |
|---|
| 1215 | | - | annualreportissignedonbehalfofthecompany. |
|---|
| 1216 | | - | (c)TheannualreportshallbedeliveredtotheSecretaryofStatewithin |
|---|
| 1217 | | - | threemonthsaftertheexpirationofthecompany’sfiscalyear. |
|---|
| 1218 | | - | (d)TheSecretaryofStateshallamenditsrecordstoreflectachange,if |
|---|
| 1219 | | - | specifiedinthereport,tothebusiness’spurpose,email,address,orprincipal |
|---|
| 1220 | | - | information. |
|---|
| 1221 | | - | *** |
|---|
| 1222 | | - | §4112.APPLICATIONFORCERTIFICATEOFAUTHORITY BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1223 | | - | 2025 Page57of227 |
|---|
| 1224 | | - | (a)Aforeignlimitedliabilitycompanymayapplyforacertificateof |
|---|
| 1225 | | - | authoritytotransactbusinessinthisStatebydeliveringanapplicationtothe |
|---|
| 1226 | | - | SecretaryofStateforfiling.Theapplicationshallsetforth: |
|---|
| 1227 | | - | (1)thenameoftheforeigncompanyand,ifitsnameisunavailablefor |
|---|
| 1228 | | - | useinthisState,analternatenamethatsatisfiestherequirementsofsection |
|---|
| 1229 | | - | 4116ofthistitle; |
|---|
| 1230 | | - | (2)thenameofthestateorcountryunderwhoselawitisorganized; |
|---|
| 1231 | | - | (3)theaddressofitsinitialdesignatedoffice;and |
|---|
| 1232 | | - | (4)thename,email,andaddressinformationandstreetaddress,andthe |
|---|
| 1233 | | - | mailingaddressifdifferentfromthestreetaddress,ofitsdesignatedagentfor |
|---|
| 1234 | | - | serviceofprocessinthisStatepursuanttosection1655ofthistitle. |
|---|
| 1235 | | - | (b)Anapplicationmaysetforth: |
|---|
| 1236 | | - | (1)provisionspermittedtobeincludedinanoperatingagreement; |
|---|
| 1237 | | - | (2)thename,email,andaddressinformationforoneormoreowners, |
|---|
| 1238 | | - | officers,orotherprincipalsofthecompany;and |
|---|
| 1239 | | - | (3)othermattersnotinconsistentwithlaw. |
|---|
| 1240 | | - | (c)Aforeignlimitedliabilitycompanyshalldeliverwiththecompleted |
|---|
| 1241 | | - | applicationacertificateofexistenceoradocumentofsimilarimport, |
|---|
| 1242 | | - | authenticatedbytheSecretaryofStateorotherofficialhavingcustodyof |
|---|
| 1243 | | - | companyrecordsinthestateorcountryunderwhoselawitisorganized,dated |
|---|
| 1244 | | - | nonotearlierthan90dayspriortofilingoftheapplication. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1245 | | - | 2025 Page58of227 |
|---|
| 1246 | | - | *** |
|---|
| 1247 | | - | ***UpdatestoTitle11Alanguage*** |
|---|
| 1248 | | - | Sec.8.11AV.S.A.chapter1isamendedtoread: |
|---|
| 1249 | | - | CHAPTER1.GENERALPROVISIONS |
|---|
| 1250 | | - | *** |
|---|
| 1251 | | - | §1.20.FILINGREQUIREMENTS |
|---|
| 1252 | | - | *** |
|---|
| 1253 | | - | (j)(1)Anyofthetermsofaplanorfileddocumentsmaybemade |
|---|
| 1254 | | - | dependentonfactsascertainableoutsidetheplanorfileddocumentsas |
|---|
| 1255 | | - | follows: |
|---|
| 1256 | | - | (A)Themannerinwhichthefactsoperateonthetermsoftheplanor |
|---|
| 1257 | | - | fileddocumentmustbeclearlyandexpresslysetforthintheplanorfiled |
|---|
| 1258 | | - | document. |
|---|
| 1259 | | - | (B)Thefactsmayincludewithoutlimitationactionsoreventswithin |
|---|
| 1260 | | - | thecontrolof,ordeterminationsmadeby,apartpartytotheplanorfilingthe |
|---|
| 1261 | | - | fileddocumentorarepresentativeofapartytotheplanorfilingthefiled |
|---|
| 1262 | | - | document. |
|---|
| 1263 | | - | (2)Asusedinthissection: |
|---|
| 1264 | | - | (A)“Fileddocument”meansadocumentfiledwiththesecretaryof |
|---|
| 1265 | | - | stateSecretaryofStateunderanyprovisionofthistitle,exceptchapter15or |
|---|
| 1266 | | - | section16.22ofthistitle. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1267 | | - | 2025 Page59of227 |
|---|
| 1268 | | - | (B)“Plan”meansaplanofmergerorshareexchange. |
|---|
| 1269 | | - | *** |
|---|
| 1270 | | - | §1.22.FILING;SERVICEANDCOPYINGFEES |
|---|
| 1271 | | - | (a)TheSecretaryofStateshallcollectthefollowingfeeswhenthe |
|---|
| 1272 | | - | documentsdescribedinthissectionaredeliveredtotheOfficeoftheSecretary |
|---|
| 1273 | | - | ofStateforfiling: |
|---|
| 1274 | | - | (1)Articlesofincorporation $155.00 |
|---|
| 1275 | | - | (2)Applicationforreservedname $40.00 |
|---|
| 1276 | | - | (3)Noticeoftransferofreservedname $20.00 |
|---|
| 1277 | | - | (4)Applicationforregisterednameofaforeigncorporation$50.00 |
|---|
| 1278 | | - | (5)Applicationforrenewalofregisterednameofaforeigncorporation |
|---|
| 1279 | | - | $50.00 |
|---|
| 1280 | | - | (6)Statementofchangeofregisteredagentsorregisteredoffice,orboth |
|---|
| 1281 | | - | $25.00andnottoexceed$1,000.00perfilerpercalendaryear. |
|---|
| 1282 | | - | (7)Agent’sstatementofresignation Nofee |
|---|
| 1283 | | - | (8)Amendmentofarticlesofincorporation $50.00 |
|---|
| 1284 | | - | (9)Restatementofarticlesofincorporation $50.00 |
|---|
| 1285 | | - | (10)Articlesofmergerorshareexchange $95.00 |
|---|
| 1286 | | - | (11)Articlesofdissolution $35.00 |
|---|
| 1287 | | - | (12)Articlesofrevocationofdissolution $35.00 |
|---|
| 1288 | | - | (13)Applicationforcertificateofauthority $155.00 BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1289 | | - | 2025 Page60of227 |
|---|
| 1290 | | - | (14)Applicationforamendedcertificateofauthority $50.00 |
|---|
| 1291 | | - | (15)Applicationforcertificateofwithdrawal $25.00 |
|---|
| 1292 | | - | (16)Annualreportofaforeigncorporation $250.00 |
|---|
| 1293 | | - | (17)Annualreportofadomesticcorporation $60.00 |
|---|
| 1294 | | - | (18)Applicationforcertificateofgoodstanding $25.00 |
|---|
| 1295 | | - | (19)Anyotherdocumentrequiredorpermittedtobefiledbythistitle |
|---|
| 1296 | | - | $35.00 |
|---|
| 1297 | | - | (20)Articlesofcorrection $20.00 |
|---|
| 1298 | | - | (21)Articlesofdomestication $20.00 |
|---|
| 1299 | | - | (22)Statementofconversion $20.00 |
|---|
| 1300 | | - | (b)TheSecretaryofStateshallcollectafeeof$25.00eachtimeprocessis |
|---|
| 1301 | | - | servedonhimorherunderthistitle.Thepartytoaproceedingcausingservice |
|---|
| 1302 | | - | ofprocessisentitledtorecoverthisfeeascostsifheorsheprevailsinthe |
|---|
| 1303 | | - | proceeding. |
|---|
| 1304 | | - | (c)TheSecretaryofStateshallcollectafeeof$25.00forcopyingand |
|---|
| 1305 | | - | certifyingthecopyofanyfileddocumentrelatingtoadomesticorforeign |
|---|
| 1306 | | - | corporation. |
|---|
| 1307 | | - | (d)Whenacorporationhasbeeninvoluntarilyterminatedforfailuretofile |
|---|
| 1308 | | - | itsannualreport,theSecretaryofStateshallcollect,foreachyearthe |
|---|
| 1309 | | - | corporationfailedtofileitsannualreport,theannualreportfilingfeeanda |
|---|
| 1310 | | - | reinstatementfeeof$50.00Apersonwhosubmitsadocumentforfiling BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1311 | | - | 2025 Page61of227 |
|---|
| 1312 | | - | pursuanttothistitleshallpaytotheSecretaryofStatetheamountspecifiedin |
|---|
| 1313 | | - | 11V.S.A.§1651. |
|---|
| 1314 | | - | *** |
|---|
| 1315 | | - | §1.40.DEFINITIONS |
|---|
| 1316 | | - | Asusedinthistitle: |
|---|
| 1317 | | - | *** |
|---|
| 1318 | | - | (8)“Entity”includescorporationandforeigncorporation;not-for- |
|---|
| 1319 | | - | profitnonprofitcorporation;profitandnot-for-profitnonprofitunincorporated |
|---|
| 1320 | | - | association;businesstrust,estate,partnership,trust,andtwoormorepersons |
|---|
| 1321 | | - | havingajointorcommoneconomicinterest;andstate,UnitedStates,and |
|---|
| 1322 | | - | foreigngovernment. |
|---|
| 1323 | | - | *** |
|---|
| 1324 | | - | Sec.9.11AV.S.A.§ 2.02isamendedtoread: |
|---|
| 1325 | | - | §2.02.ARTICLESOFINCORPORATION |
|---|
| 1326 | | - | (a)Thearticlesofincorporationshallsetforth: |
|---|
| 1327 | | - | (1)acorporatenameforthecorporationthatsatisfiestherequirements |
|---|
| 1328 | | - | ofsection4.01ofthistitle; |
|---|
| 1329 | | - | (2)theclassesofshares,ifany,andthenumberofsharesineachclass |
|---|
| 1330 | | - | thatthecorporationisauthorizedtoissue; |
|---|
| 1331 | | - | (3)thenumberofsharesthecorporationisauthorizedtoissue; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1332 | | - | 2025 Page62of227 |
|---|
| 1333 | | - | (4)thestreetaddressofthecorporation’sinitialregisteredofficeand |
|---|
| 1334 | | - | thenameandemailofitsinitialregisteredagentforserviceofprocessatthat |
|---|
| 1335 | | - | officepursuantto11V.S.A.§1655; |
|---|
| 1336 | | - | (5)thenameandaddressofeachincorporator; |
|---|
| 1337 | | - | (6)oneormoreclassesofsharesthattogetherhaveunlimitedvoting |
|---|
| 1338 | | - | rights;and |
|---|
| 1339 | | - | (7)oneormoreclassesofshares,(whichmaybethesameclassor |
|---|
| 1340 | | - | classesasthosewithvotingrights),thattogetherareentitledtoreceivethenet |
|---|
| 1341 | | - | assetsofthecorporationupondissolution. |
|---|
| 1342 | | - | (b)Thearticlesofincorporationmaysetforth: |
|---|
| 1343 | | - | (1)thenamesandaddressesoftheindividualswhoaretoserveasthe |
|---|
| 1344 | | - | initialboardofdirectors,andofanyotherprincipalsthecorporationprovides; |
|---|
| 1345 | | - | (2)provisionsnotinconsistentwithlawregarding: |
|---|
| 1346 | | - | *** |
|---|
| 1347 | | - | Sec.10.11AV.S.A.chapter4isamendedtoread: |
|---|
| 1348 | | - | CHAPTER4.NAME |
|---|
| 1349 | | - | §4.01.CORPORATEHEADNAME |
|---|
| 1350 | | - | (a)Acorporatename: |
|---|
| 1351 | | - | (1)shallcontaintheword“corporation,”“incorporated,”“company,” |
|---|
| 1352 | | - | or“limited,”ortheabbreviation“corp.,”“inc.,”“co.,”or“ltd.,”orwords |
|---|
| 1353 | | - | orabbreviationsoflikeimportinanotherlanguage; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1354 | | - | 2025 Page63of227 |
|---|
| 1355 | | - | (2)maynotcontainlanguagestatingorimplyingthatthecorporationis |
|---|
| 1356 | | - | organizedforapurposeotherthanthatpermittedbysection3.01ofthistitle |
|---|
| 1357 | | - | anditsarticlesofincorporation; |
|---|
| 1358 | | - | (3)shallnothavetheword“cooperative”oranyabbreviationthereofas |
|---|
| 1359 | | - | partofitsnameunlessthecorporationisaworkercooperativecorporation |
|---|
| 1360 | | - | organizedunder11V.S.A.chapter8,ahousingcooperativecorporation |
|---|
| 1361 | | - | organizedunder11V.S.A.chapter14,orthearticlesofincorporationcontain |
|---|
| 1362 | | - | alloftheprovisionsrequiredofacorporationorganizedasacooperative |
|---|
| 1363 | | - | associationgeneralcooperativecorporationin11V.S.A.§981;and |
|---|
| 1364 | | - | (4)shallnotincludeanywordnototherwiseauthorizedbylaw. |
|---|
| 1365 | | - | *** |
|---|
| 1366 | | - | §4.02.RESERVEDNAME |
|---|
| 1367 | | - | (a)Apersonmayreservetheexclusiveuseofacorporatename,includinga |
|---|
| 1368 | | - | fictitiousnameforaforeigncorporationwhosecorporatenameisnot |
|---|
| 1369 | | - | available,bydeliveringanapplicationtotheSecretaryofStateforfiling.The |
|---|
| 1370 | | - | applicationmustsetforththenameandaddressoftheapplicantandthename |
|---|
| 1371 | | - | proposedtobereserved.IftheSecretaryofStatefindsthatthecorporatename |
|---|
| 1372 | | - | appliedforisavailable,heorsheshallreservethenamefortheapplicant’s |
|---|
| 1373 | | - | exclusiveusefora120-dayperiod.Such120-dayperiodmayberenewedno |
|---|
| 1374 | | - | morethantwice. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1375 | | - | 2025 Page64of227 |
|---|
| 1376 | | - | (b)Theownerofareservedcorporatenamemaytransferthereservationto |
|---|
| 1377 | | - | anotherpersonbydeliveringtotheSecretaryofStateasignednoticeofthe |
|---|
| 1378 | | - | transferthatstatesthenameandaddressofthetransfereeApersonmay |
|---|
| 1379 | | - | reservetheexclusiveuseofabusinessnamebydeliveringanapplicationtothe |
|---|
| 1380 | | - | SecretaryofStateforfilingpursuantto11V.S.A.§1652. |
|---|
| 1381 | | - | §4.03.REGISTEREDNAME |
|---|
| 1382 | | - | (a)Aforeigncorporationmayregisteritscorporatename,oritsalternate |
|---|
| 1383 | | - | nameorcorporatenamewithanyadditionrequiredbysection15.06ofthis |
|---|
| 1384 | | - | title,ifthenameisdistinguishableintherecordsoftheSecretaryofStatefrom |
|---|
| 1385 | | - | thecorporateorbusinessnamesthatarenotavailableundersection |
|---|
| 1386 | | - | 4.01(b)(3)ofthistitle. |
|---|
| 1387 | | - | (b)Aforeigncorporationregistersitscorporatename,oritsalternate |
|---|
| 1388 | | - | nameorcorporatenamewithanyadditionrequiredbysection15.06ofthis |
|---|
| 1389 | | - | title,bydeliveringtotheSecretaryofStateforfilinganapplication: |
|---|
| 1390 | | - | (1)settingforthitscorporatename,oritsalternatenameorcorporate |
|---|
| 1391 | | - | namewithanyadditionrequiredbysection15.06ofthistitle,thestateor |
|---|
| 1392 | | - | countryanddateofitsincorporation,andabriefdescriptionofthenatureof |
|---|
| 1393 | | - | thebusinessinwhichitisengaged;and |
|---|
| 1394 | | - | (2)accompaniedbyacertificateofgoodstandingoradocumentof |
|---|
| 1395 | | - | similarimportfromthestateorcountryofincorporation. |
|---|
| 1396 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1397 | | - | 2025 Page65of227 |
|---|
| 1398 | | - | Sec.11.11AV.S.A.chapter5isamendedtoread: |
|---|
| 1399 | | - | CHAPTER5.OFFICEANDAGENT |
|---|
| 1400 | | - | §5.01.REGISTEREDOFFICEANDREGISTEREDAGENTFOR |
|---|
| 1401 | | - | SERVICEOFPROCESS |
|---|
| 1402 | | - | EachcorporationmustcontinuouslymaintaininthisState: |
|---|
| 1403 | | - | (1)aregisteredofficethatmaybethesameasanyofitsplacesof |
|---|
| 1404 | | - | business;and |
|---|
| 1405 | | - | (2)aregisteredagentforserviceofprocesspursuantto11V.S.A. |
|---|
| 1406 | | - | § 1655,whomaybe: |
|---|
| 1407 | | - | (A)anindividualwhoresidesinthisStateandwhosebusinessoffice |
|---|
| 1408 | | - | isidenticalwiththeregisteredoffice; |
|---|
| 1409 | | - | (B)adomesticcorporationornonprofitdomesticcorporationwhose |
|---|
| 1410 | | - | businessofficeisidenticalwiththeregisteredoffice;or |
|---|
| 1411 | | - | (C)aforeigncorporationornonprofitforeigncorporationauthorized |
|---|
| 1412 | | - | totransactbusinessinthisStatewhosebusinessofficeisidenticalwiththe |
|---|
| 1413 | | - | registeredoffice. |
|---|
| 1414 | | - | §5.02.CHANGEOFREGISTEREDOFFICEORREGISTEREDAGENT |
|---|
| 1415 | | - | FORSERVICEOFPROCESS |
|---|
| 1416 | | - | (a)Acorporationmaychangeitsregisteredofficeorregisteredagentfor |
|---|
| 1417 | | - | serviceofprocessinformationbydeliveringtotheSecretaryofStateforfiling |
|---|
| 1418 | | - | astatementofchangepursuantto11V.S.A.§1655.thatsetsforth: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1419 | | - | 2025 Page66of227 |
|---|
| 1420 | | - | (1)thenameofthecorporation; |
|---|
| 1421 | | - | (2)thestreetaddressofitscurrentregisteredoffice; |
|---|
| 1422 | | - | (3)ifthecurrentregisteredofficeistobechanged,thestreetaddressof |
|---|
| 1423 | | - | thenewregisteredoffice; |
|---|
| 1424 | | - | (4)thenameofitscurrentregisteredagent; |
|---|
| 1425 | | - | (5)ifthecurrentregisteredagentistobechanged,thenameofthenew |
|---|
| 1426 | | - | registeredagentandthenewagent’swrittenconsent(eitheronthestatement |
|---|
| 1427 | | - | orattachedtoit)totheappointment;and |
|---|
| 1428 | | - | (6)thatafterthechangeorchangesaremade,thestreetaddressesofits |
|---|
| 1429 | | - | registeredofficeandthebusinessofficeofitsregisteredagentwillbeidentical |
|---|
| 1430 | | - | (b)Ifaregisteredagentchangesthestreetaddressoftheagent’sbusiness |
|---|
| 1431 | | - | office,theagentmaychangethestreetaddressoftheregisteredofficeofany |
|---|
| 1432 | | - | corporationforwhichheorsheistheregisteredagentbynotifyingthe |
|---|
| 1433 | | - | corporationinwritingofthechangeandsigning(eithermanuallyorin |
|---|
| 1434 | | - | facsimile)anddeliveringtotheSecretaryofStateforfilingastatementthat |
|---|
| 1435 | | - | complieswiththerequirementsofsubsection(a)ofthissectionandrecitesthat |
|---|
| 1436 | | - | thecorporationhasbeennotifiedofthechange. |
|---|
| 1437 | | - | §5.03.RESIGNATIONOFREGISTEREDAGENT |
|---|
| 1438 | | - | (a)Aregisteredagentmayresignhisorheragencyappointmentbysigning |
|---|
| 1439 | | - | anddeliveringtotheSecretaryofStateforfiling,andthecorporationatits |
|---|
| 1440 | | - | registeredoffice,thesignedoriginalandtwoexactcopiesofastatementof BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1441 | | - | 2025 Page67of227 |
|---|
| 1442 | | - | resignation.Thestatementmayincludeastatementthattheregisteredofficeis |
|---|
| 1443 | | - | alsodiscontinued. |
|---|
| 1444 | | - | (b)Afterfilingthestatement,theSecretaryofStateshallmailonecopyto |
|---|
| 1445 | | - | theregisteredoffice(ifnotdiscontinued)andtheothercopytothecorporation |
|---|
| 1446 | | - | atitsprincipaloffice. |
|---|
| 1447 | | - | (c)Theagencyappointmentisterminated,andtheregisteredoffice |
|---|
| 1448 | | - | discontinuedifsoprovided,onthe31stdayafterthedateonwhichthe |
|---|
| 1449 | | - | statementisfiledAregisteredagentforserviceofprocessmayresignasagent |
|---|
| 1450 | | - | byfilingastatementofresignationpursuantto11V.S.A.§1655. |
|---|
| 1451 | | - | §5.04.SERVICEONCORPORATION |
|---|
| 1452 | | - | (a)Thecorporation’sregisteredagentshallbeanagentofsuch |
|---|
| 1453 | | - | corporationuponwhomanyprocess,notice,ordemandrequiredorpermitted |
|---|
| 1454 | | - | bylawtobeserveduponthecorporationmaybeserved. |
|---|
| 1455 | | - | (b)Wheneveracorporationshallfailtoappointormaintainaregistered |
|---|
| 1456 | | - | agentinthisState,orwheneveritsregisteredagentcannotwithreasonable |
|---|
| 1457 | | - | diligencebefoundattheregisteredoffice,thentheSecretaryofStateshallbe |
|---|
| 1458 | | - | anagentofsuchcorporationuponwhomanysuchprocess,noticeordemand |
|---|
| 1459 | | - | maybeserved.ServiceontheSecretaryofStateofanysuchprocess,notice,or |
|---|
| 1460 | | - | demandshallbemadebydeliveringtoandleavingwithhimorher,orwith |
|---|
| 1461 | | - | anyclerkhavingchargeofthecorporationdepartmentofhisorheroffice, |
|---|
| 1462 | | - | duplicatecopiesofsuchprocess,notice,ordemand.Intheeventanysuch BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1463 | | - | 2025 Page68of227 |
|---|
| 1464 | | - | process,notice,ordemandisservedontheSecretaryofState,heorsheshall |
|---|
| 1465 | | - | immediatelycauseoneofthecopiesthereoftobeforwardedbyregisteredor |
|---|
| 1466 | | - | certifiedmail,returnreceiptrequested,addressedtothecorporationatits |
|---|
| 1467 | | - | registeredoffice. |
|---|
| 1468 | | - | (c)TheSecretaryofStateshallkeeparecordofallprocesses,notices,and |
|---|
| 1469 | | - | demandsservedupontheSecretaryunderthissection,andshallrecordtherein |
|---|
| 1470 | | - | thetimeofsuchserviceandtheSecretary’sactionwithreferencethereto. |
|---|
| 1471 | | - | (d)Nothinghereincontainedshalllimitoraffecttherighttoserveany |
|---|
| 1472 | | - | process,notice,ordemandrequiredorpermittedbylawtobeservedupona |
|---|
| 1473 | | - | corporationinanyothermannernoworhereafterpermittedbylaw,orbyrule |
|---|
| 1474 | | - | Acorporationissubjecttotheserviceofprocessprovisionsin11V.S.A.1656. |
|---|
| 1475 | | - | Sec.12.11AV.S.A.chapter14isamendedtoread: |
|---|
| 1476 | | - | CHAPTER14.DISSOLUTION |
|---|
| 1477 | | - | *** |
|---|
| 1478 | | - | §14.05.EFFECTOFDISSOLUTION |
|---|
| 1479 | | - | *** |
|---|
| 1480 | | - | (b)Dissolutionofacorporationdoesnot: |
|---|
| 1481 | | - | (1)transfertitletothecorporation’sproperty; |
|---|
| 1482 | | - | (2)preventtransferofitssharesorsecurities,althoughthe |
|---|
| 1483 | | - | authorizationtodissolvemayprovideforclosingthecorporation’sshare |
|---|
| 1484 | | - | transferrecords; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1485 | | - | 2025 Page69of227 |
|---|
| 1486 | | - | (3)subjectitsdirectorsorofficerstostandardsofconductdifferentfrom |
|---|
| 1487 | | - | thoseprescribedinchapter8ofthistitle; |
|---|
| 1488 | | - | (4)changequorumorvotingrequirementsforitsboardofdirectorsor |
|---|
| 1489 | | - | shareholders;changeprovisionsforselection,resignation,orremovalofits |
|---|
| 1490 | | - | directorsorofficersorboth;orchangeprovisionsforamendingitsbylaws; |
|---|
| 1491 | | - | (5)preventcommencementofaproceedingbyoragainstthe |
|---|
| 1492 | | - | corporationinitscorporatename; |
|---|
| 1493 | | - | (6)abateorsuspendaproceedingpendingbyoragainstthe |
|---|
| 1494 | | - | corporationontheeffectivedateofdissolution;or |
|---|
| 1495 | | - | (7)terminatetheauthorityoftheregisteredagentforserviceofprocess |
|---|
| 1496 | | - | ofthecorporation. |
|---|
| 1497 | | - | *** |
|---|
| 1498 | | - | §14.20.INVOLUNTARYTERMINATION |
|---|
| 1499 | | - | *** |
|---|
| 1500 | | - | (d)Involuntaryterminationofacorporationdoesnot: |
|---|
| 1501 | | - | (1)preventcommencementofaproceedingagainstthecorporationin |
|---|
| 1502 | | - | itscorporatename; |
|---|
| 1503 | | - | (2)abateorsuspendaproceedingpendingbyoragainstthe |
|---|
| 1504 | | - | corporationontheeffectivedateofinvoluntarytermination;or |
|---|
| 1505 | | - | (3)terminatetheauthorityoftheregisteredagentforserviceofprocess |
|---|
| 1506 | | - | ofthecorporation. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1507 | | - | 2025 Page70of227 |
|---|
| 1508 | | - | *** |
|---|
| 1509 | | - | Sec.13.11AV.S.A.chapter15isamendedtoread: |
|---|
| 1510 | | - | CHAPTER15.FOREIGNCORPORATIONS |
|---|
| 1511 | | - | *** |
|---|
| 1512 | | - | §15.03.APPLICATIONFORCERTIFICATEOFAUTHORITY |
|---|
| 1513 | | - | (a)Aforeigncorporationmayapplyforacertificateofauthorityto |
|---|
| 1514 | | - | transactbusinessinthisStatebydeliveringanapplicationandtheapplicable |
|---|
| 1515 | | - | filingfeetotheSecretaryofStateforfiling.Theapplicationmustsetforth: |
|---|
| 1516 | | - | (1)thenameoftheforeigncorporationor,ifitsnameisunavailablefor |
|---|
| 1517 | | - | useinthisState,acorporatenamethatsatisfiestherequirementsofsection |
|---|
| 1518 | | - | 15.06ofthistitle; |
|---|
| 1519 | | - | (2)thenameofthestateorcountryunderwhoselawitisincorporated; |
|---|
| 1520 | | - | (3)itsdateofincorporationandperiodofduration; |
|---|
| 1521 | | - | (4)thestreetaddressofitsprincipaloffice; |
|---|
| 1522 | | - | (5)theaddressofitsregisteredofficeinthisStateandthenameofits |
|---|
| 1523 | | - | registeredagentforserviceofprocessatthatoffice,pursuantto11V.S.A. |
|---|
| 1524 | | - | § 1655;and |
|---|
| 1525 | | - | (6)thenamesandusualbusinessaddressesofitscurrentdirectorsand |
|---|
| 1526 | | - | officers,andofanyotherprincipalsthecorporationprovides. |
|---|
| 1527 | | - | (b)Theforeigncorporationshalldeliverwiththecompletedapplicationa |
|---|
| 1528 | | - | certificateofgoodstanding(oradocumentofsimilarimport)duly BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1529 | | - | 2025 Page71of227 |
|---|
| 1530 | | - | authenticatedbytheSecretaryofStateorotherofficialhavingcustodyof |
|---|
| 1531 | | - | corporaterecordsinthestateorcountryunderwhoselawitisincorporated. |
|---|
| 1532 | | - | *** |
|---|
| 1533 | | - | §15.06.CORPORATENAMEOFFOREIGNCORPORATION |
|---|
| 1534 | | - | (a)Ifthecorporatenameofaforeigncorporationdoesnotsatisfythe |
|---|
| 1535 | | - | requirementsofsection4.01ofthistitle,theforeigncorporationtoobtainor |
|---|
| 1536 | | - | maintainacertificateofauthoritytotransactbusinessinthisState: |
|---|
| 1537 | | - | (1)mayaddtheword“corporation,”“incorporated,”“company,”or |
|---|
| 1538 | | - | “limited,”ortheabbreviation“corp.,”“inc.,”“co.,”or“ltd.,”toits |
|---|
| 1539 | | - | corporatenameforuseinthisState;or |
|---|
| 1540 | | - | (2)mayuseanavailabletradeadoptanalternatenametotransact |
|---|
| 1541 | | - | businessinthisStateifitscorporatenameisunavailableanditdeliverstothe |
|---|
| 1542 | | - | SecretaryofStateforfilingacopyoftheresolutionofitsboardofdirectors, |
|---|
| 1543 | | - | certifiedbyitssecretary,adoptingthetradealternatename. |
|---|
| 1544 | | - | (b)Exceptasauthorizedbysubsections(c)and(d)ofthissection,the |
|---|
| 1545 | | - | corporatename,includingatradeanalternatename,ofaforeigncorporation |
|---|
| 1546 | | - | shallbedistinguishableintherecordsoftheSecretaryofStatefromanyname |
|---|
| 1547 | | - | granted,registered,orreservedunderthischapter,orthenameofanyother |
|---|
| 1548 | | - | entity,whetherdomesticorforeign,thatisreserved,registered,orgrantedby |
|---|
| 1549 | | - | orwiththeSecretaryofState. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1550 | | - | 2025 Page72of227 |
|---|
| 1551 | | - | (c)AforeigncorporationmayapplytotheSecretaryofStatefor |
|---|
| 1552 | | - | authorizationtouseinthisStatethenameofanothercorporationincorporated |
|---|
| 1553 | | - | orauthorizedtotransactbusinessinthisStatethatisnotdistinguishableinthe |
|---|
| 1554 | | - | recordsfromoneormoreofthenamesdescribedinsubsection(b)ofthis |
|---|
| 1555 | | - | section,bysubmittingtotheSecretaryofStateasatisfactorywrittenform |
|---|
| 1556 | | - | indicatingtheothercorporation’sconsentandchangeofname. |
|---|
| 1557 | | - | (d)AforeigncorporationmayuseinthisStatethename,includingthe |
|---|
| 1558 | | - | tradealternatename,ofanotherdomesticorforeigncorporationthatisused |
|---|
| 1559 | | - | inthisStateiftheothercorporationisincorporatedorauthorizedtotransact |
|---|
| 1560 | | - | businessinthisStateandtheforeigncorporation: |
|---|
| 1561 | | - | (1)hasmergedwiththeothercorporation; |
|---|
| 1562 | | - | (2)hasbeenformedbyreorganizationoftheothercorporation;or |
|---|
| 1563 | | - | (3)hasacquiredallorsubstantiallyalloftheassets,includingthe |
|---|
| 1564 | | - | corporatename,oftheothercorporation. |
|---|
| 1565 | | - | *** |
|---|
| 1566 | | - | §15.07.REGISTEREDOFFICEANDREGISTEREDAGENTFOR |
|---|
| 1567 | | - | SERVICEOFPROCESSOFFOREIGNCORPORATION |
|---|
| 1568 | | - | EachforeigncorporationauthorizedtotransactbusinessinthisStatemust |
|---|
| 1569 | | - | continuouslymaintaininthisState: |
|---|
| 1570 | | - | (1)aregisteredofficethatmaybethesameasanyofitsplacesof |
|---|
| 1571 | | - | business;and BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1572 | | - | 2025 Page73of227 |
|---|
| 1573 | | - | (2)aregisteredagentforserviceofprocess,pursuantto11V.S.A. |
|---|
| 1574 | | - | § 1655,whomaybe: |
|---|
| 1575 | | - | (A)anindividualwhoresidesinthisStateandwhosebusinessoffice |
|---|
| 1576 | | - | isidenticalwiththeregisteredoffice; |
|---|
| 1577 | | - | (B)adomesticcorporationordomesticnot-for-profitcorporation |
|---|
| 1578 | | - | whosebusinessofficeisidenticalwiththeregisteredoffice;or |
|---|
| 1579 | | - | (C)aforeigncorporationorforeignnot-for-profitcorporation |
|---|
| 1580 | | - | authorizedtotransactbusinessinthisStatewhosebusinessofficeisidentical |
|---|
| 1581 | | - | withtheregisteredoffice. |
|---|
| 1582 | | - | §15.08.CHANGEOFREGISTEREDOFFICEORREGISTEREDAGENT |
|---|
| 1583 | | - | FORSERVICEOFPROCESSOFFOREIGNCORPORATION |
|---|
| 1584 | | - | (a)AforeigncorporationauthorizedtotransactbusinessinthisStatemay |
|---|
| 1585 | | - | changeitsregisteredofficeorregisteredagentforserviceofprocessby |
|---|
| 1586 | | - | deliveringtotheSecretaryofStateforfilingastatementofchangethatsets |
|---|
| 1587 | | - | forth: |
|---|
| 1588 | | - | (1)itsname; |
|---|
| 1589 | | - | (2)thestreetaddressofitscurrentregisteredoffice; |
|---|
| 1590 | | - | (3)ifthecurrentregisteredofficeistobechanged,thestreetaddressof |
|---|
| 1591 | | - | itsnewregisteredoffice; |
|---|
| 1592 | | - | (4)thenameofitscurrentregisteredagent; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1593 | | - | 2025 Page74of227 |
|---|
| 1594 | | - | (5)ifthecurrentregisteredagentistobechanged,thenameofitsnew |
|---|
| 1595 | | - | registeredagentandthenewagent’swrittenconsent(eitheronthestatement |
|---|
| 1596 | | - | orattachedtoit)totheappointment;and |
|---|
| 1597 | | - | (6)thatafterthechangeorchangesaremade,thestreetaddressesofits |
|---|
| 1598 | | - | registeredofficeandthebusinessofficeofitsregisteredagentwillbeidentical. |
|---|
| 1599 | | - | (b)Ifaregisteredagentchangesthestreetaddressofhisorherbusiness |
|---|
| 1600 | | - | office,heorshemaychangethestreetaddressoftheregisteredofficeofany |
|---|
| 1601 | | - | foreigncorporationforwhichheorsheistheregisteredagentbynotifyingthe |
|---|
| 1602 | | - | corporationinwritingofthechangeandsigning(eithermanuallyorin |
|---|
| 1603 | | - | facsimile)anddeliveringtotheSecretaryofStateforfilingastatementof |
|---|
| 1604 | | - | changethatcomplieswiththerequirementsofsubsection(a)ofthissection |
|---|
| 1605 | | - | andrecitesthatthecorporationhasbeennotifiedofthechangepursuantto |
|---|
| 1606 | | - | 11 V.S.A.§1655. |
|---|
| 1607 | | - | §15.09.RESIGNATIONOFREGISTEREDAGENTFORSERVICEOF |
|---|
| 1608 | | - | PROCESSOFFOREIGNCORPORATION |
|---|
| 1609 | | - | (a)Theregisteredagentofaforeigncorporationmayresignhisorher |
|---|
| 1610 | | - | agencyasagentbyfilingastatementofresignationpursuantto11V.S.A. |
|---|
| 1611 | | - | § 1655appointmentbysigninganddeliveringtotheSecretaryofStatefor |
|---|
| 1612 | | - | filingtheoriginalandtwoexactorconformedcopiesofastatementof |
|---|
| 1613 | | - | resignation.Thestatementofresignationmayincludeastatementthatthe |
|---|
| 1614 | | - | registeredofficeisalsodiscontinued. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1615 | | - | 2025 Page75of227 |
|---|
| 1616 | | - | (b)Afterfilingthestatement,theSecretaryofStateshallattachthefiling |
|---|
| 1617 | | - | receipttoonecopyandmailthecopyandreceipttotheregisteredofficeifnot |
|---|
| 1618 | | - | discontinued.TheSecretaryofStateshallmailtheothercopytotheforeign |
|---|
| 1619 | | - | corporationatitsprincipalofficeaddressshowninitsmostrecentannual |
|---|
| 1620 | | - | report. |
|---|
| 1621 | | - | (c)Theagencyappointmentisterminated,andtheregisteredoffice |
|---|
| 1622 | | - | discontinuedifsoprovided,onthe31stdayafterthedateonwhichthe |
|---|
| 1623 | | - | statementwasfiled. |
|---|
| 1624 | | - | §15.10.SERVICEOFPROCESSONFOREIGNCORPORATION |
|---|
| 1625 | | - | Serviceofprocessonaforeigncorporationisgovernedby12V.S.A. |
|---|
| 1626 | | - | subchapter6,chapter25andbytheVermontRulesofCivilProcedureA |
|---|
| 1627 | | - | foreigncorporationissubjecttotheserviceofprocessprovisionsin11V.S.A.§ |
|---|
| 1628 | | - | 1656. |
|---|
| 1629 | | - | *** |
|---|
| 1630 | | - | §15.30.INVOLUNTARYTERMINATION |
|---|
| 1631 | | - | (a)TheSecretaryofStateshallterminatethecertificateofauthorityofa |
|---|
| 1632 | | - | foreigncorporationif: |
|---|
| 1633 | | - | (1)theforeigncorporationfailstodeliveritsannualreporttothe |
|---|
| 1634 | | - | SecretaryofStateasrequiredbysection16.22ofthistitle; |
|---|
| 1635 | | - | (2)theforeigncorporationdoesnotpayanyfranchisetaxesorpenalties |
|---|
| 1636 | | - | imposedbythistitleorotherlaw; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1637 | | - | 2025 Page76of227 |
|---|
| 1638 | | - | (3)theforeigncorporationiswithoutaregisteredagentforserviceof |
|---|
| 1639 | | - | processorregisteredofficeinthisState; |
|---|
| 1640 | | - | (4)theforeigncorporationfailstoinformtheSecretaryofStateunder |
|---|
| 1641 | | - | section15.08or15.09ofthistitlethatitsregisteredagentforserviceof |
|---|
| 1642 | | - | processorregisteredofficehaschanged; |
|---|
| 1643 | | - | (5)amaterialmisrepresentationisknowinglymadeinasigned |
|---|
| 1644 | | - | documentdeliveredtotheSecretaryofStateforfiling; |
|---|
| 1645 | | - | (6)theSecretaryofStatereceivesadulyauthenticatedcertificatefrom |
|---|
| 1646 | | - | theSecretaryofStateorotherofficialhavingcustodyofcorporationrecordsin |
|---|
| 1647 | | - | thestateorcountryunderwhoselawtheforeigncorporationisincorporated |
|---|
| 1648 | | - | statingthatithasbeendissolvedorterminatedordisappearedastheresultof |
|---|
| 1649 | | - | amerger; |
|---|
| 1650 | | - | (7)theforeigncorporationhasfailedtocomplywithsubdivision |
|---|
| 1651 | | - | 11.07(a)(3)ofthistitlerequiringittofilearticlesofmergerwhereitisthe |
|---|
| 1652 | | - | survivorofamergerwithadomesticcorporation;or |
|---|
| 1653 | | - | (8)theCommissionerofTaxesnotifiestheSecretaryofStatethata |
|---|
| 1654 | | - | foreigncorporationhasfailedtomakeareturn,topayatax,tofileabond,or |
|---|
| 1655 | | - | todoanyotheractrequiredtobedoneundertheprovisionsof32V.S.A. |
|---|
| 1656 | | - | chapter211. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1657 | | - | 2025 Page77of227 |
|---|
| 1658 | | - | (b)TheSecretaryofStateshallservetheforeigncorporationwithwritten |
|---|
| 1659 | | - | noticeofterminationofitscertificateofauthorityundersection15.10ofthis |
|---|
| 1660 | | - | title,settingouteachdeficiency. |
|---|
| 1661 | | - | (c)TheauthorityofaforeigncorporationtotransactbusinessinthisState |
|---|
| 1662 | | - | ceasesonthedateshownonthenoticeterminatingitscertificateofauthority. |
|---|
| 1663 | | - | Terminationofaforeigncorporation’scertificateofauthoritydoesnot |
|---|
| 1664 | | - | terminatetheauthorityoftheregisteredagentforserviceofprocessofthe |
|---|
| 1665 | | - | corporation. |
|---|
| 1666 | | - | (d)TheSecretaryofState’sterminationofaforeigncorporation’s |
|---|
| 1667 | | - | certificateofauthorityappointstheSecretaryofStatetheforeign |
|---|
| 1668 | | - | corporation’sagentforserviceofprocessinanyproceedingbasedonacause |
|---|
| 1669 | | - | ofactionthataroseduringthetimetheforeigncorporationwasauthorizedto |
|---|
| 1670 | | - | transactorwastransactingwithoutauthorizationbusinessinthisState. |
|---|
| 1671 | | - | ServiceofprocessontheSecretaryofStateunderthissubsectionisserviceon |
|---|
| 1672 | | - | theforeigncorporation.Uponreceiptofprocess,theSecretaryofStateshall |
|---|
| 1673 | | - | mailacopyoftheprocesstothesecretaryoftheforeigncorporationatits |
|---|
| 1674 | | - | principalofficeshowninitsmostrecentannualreportorinanysubsequent |
|---|
| 1675 | | - | communicationreceivedfromthecorporationstatingthecurrentmailing |
|---|
| 1676 | | - | addressofitsprincipaloffice,or,ifnoneisonfile,initsapplicationfora |
|---|
| 1677 | | - | certificateofauthority,orotherwiseperfectserviceundersection15.10ofthis |
|---|
| 1678 | | - | title. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1679 | | - | 2025 Page78of227 |
|---|
| 1680 | | - | (e)Iftheforeigncorporationcorrectseachgroundforterminationand |
|---|
| 1681 | | - | demonstratestothereasonablesatisfactionoftheSecretaryofStatethateach |
|---|
| 1682 | | - | groundcitedinthenoticeofterminationdoesnotexist,andpaystothe |
|---|
| 1683 | | - | SecretaryofStateareinstatementfeeof$25.00foreachyearitisdelinquent, |
|---|
| 1684 | | - | thesecretarymaycanceltheterminationandprepareacertificateof |
|---|
| 1685 | | - | reinstatement,filetheoriginalofthecertificate,andserveacopyonthe |
|---|
| 1686 | | - | corporationundersection15.10ofthistitle. |
|---|
| 1687 | | - | *** |
|---|
| 1688 | | - | Sec.14.11AV.S.A.chapter16isamendedtoread: |
|---|
| 1689 | | - | CHAPTER16.RECORDSANDREPORTS |
|---|
| 1690 | | - | *** |
|---|
| 1691 | | - | §16.22.ANNUALREPORTFORSECRETARYOFSTATE |
|---|
| 1692 | | - | (a)Eachdomesticcorporation,andeachforeigncorporationauthorizedto |
|---|
| 1693 | | - | transactbusinessinthisState,shalldelivertotheSecretaryofStateforfiling |
|---|
| 1694 | | - | anannualreportthatsetsforth: |
|---|
| 1695 | | - | (1)thenameofthecorporationandthestateorcountryunderwhose |
|---|
| 1696 | | - | lawitisincorporated; |
|---|
| 1697 | | - | (2)theaddressofitsregisteredofficeandthenameandemailofits |
|---|
| 1698 | | - | registeredagentforserviceofprocessatthatofficeinthisState; |
|---|
| 1699 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1700 | | - | 2025 Page79of227 |
|---|
| 1701 | | - | (e)Listingthenameoftheregisteredagentandtheaddressoftheregistered |
|---|
| 1702 | | - | officedoesnoteffectuateachangeinsuchagentorofficeunlessthereport |
|---|
| 1703 | | - | alsocontainstherequirementsofsection5.02ofthistitleTheSecretaryof |
|---|
| 1704 | | - | Stateshallamenditsrecordstoreflectachange,ifspecifiedinthereport,to |
|---|
| 1705 | | - | thebusiness’spurpose,email,address,orprincipalinformation. |
|---|
| 1706 | | - | ***UpdatestoTitle11Blanguage*** |
|---|
| 1707 | | - | Sec.15.11BV.S.A.chapter1isamendedtoread: |
|---|
| 1708 | | - | CHAPTER1.GENERALPROVISIONS |
|---|
| 1709 | | - | *** |
|---|
| 1710 | | - | §1.21.FORMS |
|---|
| 1711 | | - | (a)TheSecretaryofStatemayprescribetheformorelectronicformatof |
|---|
| 1712 | | - | andfurnishonrequest,formsorspecificationsforformatsfor: |
|---|
| 1713 | | - | (1)anapplicationforacertificateofexistencegoodstanding; |
|---|
| 1714 | | - | (2)aforeigncorporation’sapplicationforacertificateofauthorityto |
|---|
| 1715 | | - | transactbusinessinthisState; |
|---|
| 1716 | | - | (3)aforeigncorporation’sapplicationforacertificateofwithdrawal; |
|---|
| 1717 | | - | and |
|---|
| 1718 | | - | (4)thebiennialreport. |
|---|
| 1719 | | - | (b)TheSecretaryofStatemayprescribeandfurnishonrequestformsfor |
|---|
| 1720 | | - | otherdocumentsrequiredorpermittedtobefiledbythistitlebuttheiruseis |
|---|
| 1721 | | - | notmandatory. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1722 | | - | 2025 Page80of227 |
|---|
| 1723 | | - | §1.22.FILING;SERVICEANDCOPYINGFEES |
|---|
| 1724 | | - | TheSecretaryofStateshallcollectthefollowingfeeswhenthedocuments |
|---|
| 1725 | | - | describedinthissectionaredeliveredtotheOfficeoftheSecretaryofStatefor |
|---|
| 1726 | | - | filing: |
|---|
| 1727 | | - | (1)Articlesofincorporation $155.00 |
|---|
| 1728 | | - | (2)Applicationforreservedname $35.00 |
|---|
| 1729 | | - | (3)Transferofreservedname $35.00 |
|---|
| 1730 | | - | (4)Applicationforregisteredname $45.00 |
|---|
| 1731 | | - | (5)Renewalofregisteredname $45.00 |
|---|
| 1732 | | - | (6)Statementofchangeofregisteredagentsorregisteredoffice,orboth |
|---|
| 1733 | | - | $35.00andnottoexceed$1,000.00perfilerpercalendaryear. |
|---|
| 1734 | | - | (7)Agent’sstatementofresignation Nofee |
|---|
| 1735 | | - | (8)Amendmentofarticlesofassociation $45.00 |
|---|
| 1736 | | - | (9)Restatementofarticlesofassociation $45.00 |
|---|
| 1737 | | - | (10)Articlesofmerger $90.00 |
|---|
| 1738 | | - | (11)Articlesofdissolution Nofee |
|---|
| 1739 | | - | (12)Articlesofrevocationofdissolution $10.00 |
|---|
| 1740 | | - | (13)Applicationforreinstatementfollowingadministrativedissolution |
|---|
| 1741 | | - | $45.00 |
|---|
| 1742 | | - | (14)Applicationforcertificateofauthorityforaforeigncorporation |
|---|
| 1743 | | - | $175.00 BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1744 | | - | 2025 Page81of227 |
|---|
| 1745 | | - | (15)Applicationforamendedcertificateofauthority $45.00 |
|---|
| 1746 | | - | (16)Applicationforcertificateofwithdrawal $10.00 |
|---|
| 1747 | | - | (17)Biennialreport $35.00exceptthat |
|---|
| 1748 | | - | acorporationwhichcertifiestotheSecretaryofState,onaformapprovedby |
|---|
| 1749 | | - | theSecretary,thatitdidnotcompensateitsofficers,directors,oremployees |
|---|
| 1750 | | - | duringthepriorcalendaryearshallbeexemptfromthefeerequiredbythis |
|---|
| 1751 | | - | subdivision. |
|---|
| 1752 | | - | (18)Articlesofcorrection $30.00 |
|---|
| 1753 | | - | (19)Applicationforcertificateofgoodstanding $35.00 |
|---|
| 1754 | | - | (20)Certifiedcopyofanyfileddocument $25.00 |
|---|
| 1755 | | - | (21)Restatementofarticlesoforganization $30.00Aperson |
|---|
| 1756 | | - | whosubmitsadocumentforfilingpursuanttothistitleshallpaytothe |
|---|
| 1757 | | - | SecretaryofStatetheamountspecifiedin11V.S.A.§1651. |
|---|
| 1758 | | - | *** |
|---|
| 1759 | | - | Sec.16.11BV.S.A.chapter2isamendedtoread: |
|---|
| 1760 | | - | CHAPTER2.INCORPORATION |
|---|
| 1761 | | - | *** |
|---|
| 1762 | | - | §2.02.ARTICLESOFINCORPORATION |
|---|
| 1763 | | - | (a)Thearticlesofincorporationmustsetforth: |
|---|
| 1764 | | - | (1)aAcorporatenameforthecorporationthatsatisfiesthe |
|---|
| 1765 | | - | requirementsofsection4.01ofthistitle;. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1766 | | - | 2025 Page82of227 |
|---|
| 1767 | | - | (2)oneOneofthefollowingstatements: |
|---|
| 1768 | | - | (A)Thiscorporationisapublicbenefitcorporation. |
|---|
| 1769 | | - | (B)Thiscorporationisamutualbenefitcorporation. |
|---|
| 1770 | | - | (3)theThestreetaddressofthecorporation’sinitialregisteredoffice |
|---|
| 1771 | | - | andthenameandemailofitsinitialregisteredagentforserviceofprocessat |
|---|
| 1772 | | - | thatoffice,pursuantto11V.S.A.§1655;. |
|---|
| 1773 | | - | (4)theThenameandaddressofeachincorporator;. |
|---|
| 1774 | | - | (5)whetherWhetherornotthecorporationwillhavemembers;and. |
|---|
| 1775 | | - | (6)provisionsProvisionsnotinconsistentwithlawregardingthe |
|---|
| 1776 | | - | distributionofassetsondissolution. |
|---|
| 1777 | | - | (b)Thearticlesofincorporationmaysetforth: |
|---|
| 1778 | | - | (1)thepurposeorpurposesforwhichthecorporationisorganized, |
|---|
| 1779 | | - | whichmaybe,eitheraloneorincombinationwithotherpurposes,the |
|---|
| 1780 | | - | transactionofanylawfulactivity; |
|---|
| 1781 | | - | (2)thenamesandaddressesoftheindividualswhoaretoserveasthe |
|---|
| 1782 | | - | initialdirectors,andofanyotherprincipalsthecorporationprovides; |
|---|
| 1783 | | - | (3)provisionsnotinconsistentwithlawregarding: |
|---|
| 1784 | | - | (A)managingandregulatingtheaffairsofthecorporation; |
|---|
| 1785 | | - | (B)defining,limiting,andregulatingthepowersofthecorporation, |
|---|
| 1786 | | - | itsboardofdirectors,andmembers(oranyclassofmembers); BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1787 | | - | 2025 Page83of227 |
|---|
| 1788 | | - | (C)thecharacteristics,qualifications,rights,limitations,and |
|---|
| 1789 | | - | obligationsattachingtoeachoranyclassofmembers;and |
|---|
| 1790 | | - | (4)anyprovisionthatunderthistitleisrequiredorpermittedtobeset |
|---|
| 1791 | | - | forthinthebylaws. |
|---|
| 1792 | | - | *** |
|---|
| 1793 | | - | Sec.17.11BV.S.A.chapter4isamendedtoread: |
|---|
| 1794 | | - | CHAPTER4.NAME |
|---|
| 1795 | | - | *** |
|---|
| 1796 | | - | §4.02.RESERVEDNAME |
|---|
| 1797 | | - | (a)Apersonmayreservetheexclusiveuseofacorporatename,includinga |
|---|
| 1798 | | - | fictitiousnameforaforeigncorporationwhosecorporatenameisnot |
|---|
| 1799 | | - | available,bydeliveringanapplicationtotheSecretaryofStateforfiling. |
|---|
| 1800 | | - | Uponfindingthatthecorporatenameappliedforisavailable,theSecretaryof |
|---|
| 1801 | | - | Stateshallreservethenamefortheapplicant’sexclusiveusefora120-day |
|---|
| 1802 | | - | period.Such120-dayperiodmayberenewednomorethantwice. |
|---|
| 1803 | | - | (b)Theownerofareservedcorporatenamemaytransferthereservationto |
|---|
| 1804 | | - | anotherpersonbydeliveringtotheSecretaryofStateasignednoticeofthe |
|---|
| 1805 | | - | transferthatstatesthenameandaddressofthetransfereeApersonmay |
|---|
| 1806 | | - | reservetheexclusiveuseofabusinessnamebydeliveringanapplicationtothe |
|---|
| 1807 | | - | SecretaryofStateforfilingpursuantto11V.S.A.§1652. |
|---|
| 1808 | | - | §4.03.REGISTEREDNAME BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1809 | | - | 2025 Page84of227 |
|---|
| 1810 | | - | (a)Aforeigncorporationmayregisteritscorporatename,oritsalternate |
|---|
| 1811 | | - | nameorcorporatenamewithanyadditionrequiredbysection15.06ofthis |
|---|
| 1812 | | - | title,ifthenameisdistinguishableupontherecordsoftheSecretaryofState |
|---|
| 1813 | | - | from: |
|---|
| 1814 | | - | (1)thecorporatenameofanonprofitorbusinesscorporation |
|---|
| 1815 | | - | incorporatedorauthorizedtodobusinessinthisState;and |
|---|
| 1816 | | - | (2)acorporatenamereservedundersection4.02ofthistitleor11A |
|---|
| 1817 | | - | V.S.A.§4.02orregisteredunderthissection. |
|---|
| 1818 | | - | (b)Aforeigncorporationregistersitscorporatename,oritsalternate |
|---|
| 1819 | | - | namecorporatenamewithanyadditionrequiredbysection15.06ofthistitle, |
|---|
| 1820 | | - | bydeliveringtotheSecretaryofStateanapplication: |
|---|
| 1821 | | - | (1)settingforthitscorporatename,oritsalternatenameorcorporate |
|---|
| 1822 | | - | namewithanyadditionrequiredbysection15.06ofthistitle,thestateor |
|---|
| 1823 | | - | countryanddateofitsincorporation,andabriefdescriptionofthenatureof |
|---|
| 1824 | | - | theactivitiesinwhichitisengaged;and |
|---|
| 1825 | | - | (2)accompaniedbyacertificateofexistence(oradocumentofsimilar |
|---|
| 1826 | | - | import)fromthestateorcountryofincorporation. |
|---|
| 1827 | | - | *** |
|---|
| 1828 | | - | Sec.18.11BV.S.A.chapter5isamendedtoread: |
|---|
| 1829 | | - | CHAPTER5.OFFICEANDAGENT |
|---|
| 1830 | | - | §5.01.REGISTEREDOFFICEANDREGISTEREDAGENTFOR BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1831 | | - | 2025 Page85of227 |
|---|
| 1832 | | - | SERVICEOFPROCESS |
|---|
| 1833 | | - | EachcorporationmustcontinuouslymaintaininthisState: |
|---|
| 1834 | | - | (1)aregisteredofficethatmaybethesameasanyofitsplacesof |
|---|
| 1835 | | - | business;and |
|---|
| 1836 | | - | (2)aregisteredagentforserviceofprocess,pursuantto11V.S.A. |
|---|
| 1837 | | - | § 1655,whosebusinessofficeisidenticalwiththeregisteredoffice. |
|---|
| 1838 | | - | §5.02.CHANGEOFREGISTEREDOFFICEORREGISTEREDAGENT |
|---|
| 1839 | | - | FORSERVICEOFPROCESS |
|---|
| 1840 | | - | (a)Acorporationmaychangeitsregisteredofficeorregisteredagentfor |
|---|
| 1841 | | - | serviceofprocessbydeliveringtotheSecretaryofStateforfilingastatement |
|---|
| 1842 | | - | ofchangepursuantto11V.S.A.§1655thatsetsforth: |
|---|
| 1843 | | - | (1)thenameofthecorporation; |
|---|
| 1844 | | - | (2)thestreetaddressofitscurrentregisteredoffice; |
|---|
| 1845 | | - | (3)ifthecurrentregisteredofficeistobechanged,thestreetaddressof |
|---|
| 1846 | | - | thenewregisteredoffice; |
|---|
| 1847 | | - | (4)thenameofitscurrentregisteredagent; |
|---|
| 1848 | | - | (5)ifthecurrentregisteredagentistobechanged,thenameofthenew |
|---|
| 1849 | | - | registeredagentandthenewagent’swrittenconsent(eitheronthestatement |
|---|
| 1850 | | - | orattachedtoit)totheappointment;and |
|---|
| 1851 | | - | (6)thatafterthechangeorchangesaremade,thestreetaddressesofits |
|---|
| 1852 | | - | registeredofficeandtheofficeofitsregisteredagentwillbeidentical BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1853 | | - | 2025 Page86of227 |
|---|
| 1854 | | - | (b)Ifthestreetaddressofaregisteredagent’sofficeischanged,the |
|---|
| 1855 | | - | registeredagentmaychangethestreetaddressoftheregisteredofficeofany |
|---|
| 1856 | | - | corporationforwhichtheregisteredagentistheregisteredagentbynotifying |
|---|
| 1857 | | - | thecorporationinwritingofthechangeandbysigning(eithermanuallyorin |
|---|
| 1858 | | - | facsimile)anddeliveringtotheSecretaryofStateforfilingastatementthat |
|---|
| 1859 | | - | complieswiththerequirementsofsubsection(a)ofthissectionandrecitesthat |
|---|
| 1860 | | - | thecorporationhasbeennotifiedofthechange. |
|---|
| 1861 | | - | §5.03.RESIGNATIONOFREGISTEREDAGENTFORSERVICEOF |
|---|
| 1862 | | - | PROCESS |
|---|
| 1863 | | - | (a)Aregisteredagentmayresignasregisteredagentbysigningand |
|---|
| 1864 | | - | deliveringtotheSecretaryofStateastatementofresignationpursuantto |
|---|
| 1865 | | - | 11 V.S.A.§1655theoriginalandtwoexactorconformedcopiesofastatement |
|---|
| 1866 | | - | ofresignation.Thestatementmayincludeastatementthattheregisteredoffice |
|---|
| 1867 | | - | isalsodiscontinued. |
|---|
| 1868 | | - | (b)Afterfilingthestatement,theSecretaryofStateshallmailonecopyto |
|---|
| 1869 | | - | theregisteredoffice(ifnotdiscontinued)andtheothercopytothecorporation |
|---|
| 1870 | | - | atitsprincipalofficeasshowninthemostrecentbiennialreportfiledpursuant |
|---|
| 1871 | | - | tosection16.22ofthistitle. |
|---|
| 1872 | | - | (c)Theagencyappointmentisterminated,andtheregisteredoffice |
|---|
| 1873 | | - | discontinuedifsoprovided,onthe31stdayafterthedateonwhichthe |
|---|
| 1874 | | - | statementisfiled. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1875 | | - | 2025 Page87of227 |
|---|
| 1876 | | - | §5.04.SERVICEONCORPORATION |
|---|
| 1877 | | - | (a)Thecorporation’sregisteredagentshallbeanagentofsuch |
|---|
| 1878 | | - | corporationuponwhomanyprocess,notice,ordemandrequiredorpermitted |
|---|
| 1879 | | - | bylawtobeserveduponthecorporationmaybeserved |
|---|
| 1880 | | - | (b)Wheneveracorporationshallfailtoappointormaintainaregistered |
|---|
| 1881 | | - | agentinthisState,orwheneveritsregisteredagentcannotwithreasonable |
|---|
| 1882 | | - | diligencebefoundattheregisteredoffice,thentheSecretaryofStateshallbe |
|---|
| 1883 | | - | anagentofsuchcorporationuponwhomanysuchprocess,notice,ordemand |
|---|
| 1884 | | - | maybeserved.ServiceontheSecretaryofStateofanysuchprocess,notice,or |
|---|
| 1885 | | - | demandshallbemadebydeliveringtoandleavingwithhimorher,orwith |
|---|
| 1886 | | - | anyclerkhavingchargeofthecorporationdepartmentofhisorheroffice, |
|---|
| 1887 | | - | duplicatecopiesofsuchprocess,notice,ordemand.Intheeventanysuch |
|---|
| 1888 | | - | process,notice,ordemandisservedontheSecretaryofState,heorsheshall |
|---|
| 1889 | | - | immediatelycauseoneofthecopiesthereoftobeforwardedbyregisteredor |
|---|
| 1890 | | - | certifiedmail,returnreceiptrequested,addressedtothecorporationatits |
|---|
| 1891 | | - | registeredoffice. |
|---|
| 1892 | | - | (c)TheSecretaryofStateshallkeeparecordofallprocesses,notices,and |
|---|
| 1893 | | - | demandsservedupontheSecretaryunderthissection,andshallrecordtherein |
|---|
| 1894 | | - | thetimeofsuchserviceandtheSecretary’sactionwithreferencethereto. |
|---|
| 1895 | | - | (d)Nothinghereincontainedshalllimitoraffecttherighttoserveany |
|---|
| 1896 | | - | process,notice,ordemandrequiredorpermittedbylawtobeservedupona BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1897 | | - | 2025 Page88of227 |
|---|
| 1898 | | - | corporationinanyothermannernoworhereafterpermittedbylaw,orbyrule |
|---|
| 1899 | | - | Acorporationissubjecttotheserviceofprocessprovisionsin11V.S.A. |
|---|
| 1900 | | - | § 1656. |
|---|
| 1901 | | - | Sec.19.11BV.S.A.chapter14isamendedtoread: |
|---|
| 1902 | | - | CHAPTER14.DISSOLUTION |
|---|
| 1903 | | - | *** |
|---|
| 1904 | | - | §14.05.EFFECTOFDISSOLUTION |
|---|
| 1905 | | - | *** |
|---|
| 1906 | | - | (b)Dissolutionofacorporationdoesnot: |
|---|
| 1907 | | - | (1)transfertitletothecorporation’sproperty; |
|---|
| 1908 | | - | (2)subjectitsdirectorsorofficerstostandardsofconductdifferentfrom |
|---|
| 1909 | | - | thoseprescribedinchapter8ofthistitle; |
|---|
| 1910 | | - | (3)changequorumorvotingrequirementsforitsboardormembers; |
|---|
| 1911 | | - | changeprovisionsforselection,resignation,orremovalofitsdirectorsor |
|---|
| 1912 | | - | officersorboth;orchangeprovisionsforamendingitsbylaws; |
|---|
| 1913 | | - | (4)preventcommencementofaproceedingbyoragainstthe |
|---|
| 1914 | | - | corporationinitscorporatename; |
|---|
| 1915 | | - | (5)abateorsuspendaproceedingpendingbyoragainstthe |
|---|
| 1916 | | - | corporationontheeffectivedateofdissolution;or |
|---|
| 1917 | | - | (6)terminatetheauthorityoftheregisteredagentforserviceofprocess. |
|---|
| 1918 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1919 | | - | 2025 Page89of227 |
|---|
| 1920 | | - | §14.20.INVOLUNTARYTERMINATION |
|---|
| 1921 | | - | TheSecretaryofStatemaycommenceaproceedingundersection14.21of |
|---|
| 1922 | | - | thistitletoadministrativelydissolveacorporationif: |
|---|
| 1923 | | - | (1)thecorporationdoesnotpaywithin60daysaftertheyareduefees |
|---|
| 1924 | | - | imposedbythistitle; |
|---|
| 1925 | | - | (2)thecorporationdoesnotdeliveritsbiennialreporttotheSecretary |
|---|
| 1926 | | - | ofStatewithin60daysafteritisdue; |
|---|
| 1927 | | - | (3)thecorporationiswithoutaregisteredagentforserviceofprocess |
|---|
| 1928 | | - | orregisteredofficeinthisStatefor60daysormore;or |
|---|
| 1929 | | - | (4)thecorporationdoesnotnotifytheSecretaryofStatewithin120 |
|---|
| 1930 | | - | daysthatitsregisteredagentforserviceofprocessorregisteredofficehas |
|---|
| 1931 | | - | beenchanged,thatitsregisteredagentforserviceofprocesshasresigned,or |
|---|
| 1932 | | - | thatitsregisteredofficehasbeendiscontinued. |
|---|
| 1933 | | - | §14.21.PROCEDUREFORANDEFFECTOFINVOLUNTARY |
|---|
| 1934 | | - | TERMINATION |
|---|
| 1935 | | - | *** |
|---|
| 1936 | | - | (d)Theinvoluntarilyinvoluntarydissolutionofacorporationdoesnot |
|---|
| 1937 | | - | terminatetheauthorityofitsregisteredagentforserviceofprocess. |
|---|
| 1938 | | - | §14.22.REINSTATEMENTFOLLOWINGINVOLUNTARY |
|---|
| 1939 | | - | DISSOLUTION BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1940 | | - | 2025 Page90of227 |
|---|
| 1941 | | - | (a)Acorporationinvoluntarilydissolvedthathasnotdistributeditsassets |
|---|
| 1942 | | - | undersection14.21ofthistitlemayapplytotheSecretaryofStatefor |
|---|
| 1943 | | - | reinstatementuponpaymentof$25.00thefeespecifiedin11V.S.A.§1651for |
|---|
| 1944 | | - | eachyearthecorporationisdelinquent.Theapplicationmust: |
|---|
| 1945 | | - | (1)recitethenameofthecorporationandtheeffectivedateofits |
|---|
| 1946 | | - | involuntarydissolution; |
|---|
| 1947 | | - | (2)statethatthegroundorgroundsfordissolutioneitherdidnotexist |
|---|
| 1948 | | - | orhavebeeneliminated;and |
|---|
| 1949 | | - | (3)statethatthecorporation’snamesatisfiestherequirementsof |
|---|
| 1950 | | - | section4.01ofthistitle. |
|---|
| 1951 | | - | *** |
|---|
| 1952 | | - | Sec.20.11BV.S.A.chapter15isamendedtoread: |
|---|
| 1953 | | - | CHAPTER15.FOREIGNCORPORATIONS |
|---|
| 1954 | | - | *** |
|---|
| 1955 | | - | §15.03.APPLICATIONFORCERTIFICATEOFAUTHORITY |
|---|
| 1956 | | - | (a)Aforeigncorporationmayapplyforacertificateofauthorityto |
|---|
| 1957 | | - | transactbusinessinthisStatebydeliveringanapplicationtotheSecretaryof |
|---|
| 1958 | | - | State.Theapplicationmustsetforth: |
|---|
| 1959 | | - | (1)thenameoftheforeigncorporationor,ifitsnameisunavailablefor |
|---|
| 1960 | | - | useinthisState,acorporatenamethatsatisfiestherequirementsofsection |
|---|
| 1961 | | - | 15.06ofthistitle; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1962 | | - | 2025 Page91of227 |
|---|
| 1963 | | - | (2)thenameofthestateorcountryunderwhoselawitisincorporated; |
|---|
| 1964 | | - | (3)thedateofincorporationandperiodofduration; |
|---|
| 1965 | | - | (4)thestreetaddressofitsprincipaloffice; |
|---|
| 1966 | | - | (5)theaddressofitsregisteredofficeinthisStateandthenameand |
|---|
| 1967 | | - | emailofitsregisteredagentforserviceofprocessatthatoffice; |
|---|
| 1968 | | - | (6)thenamesandusualbusinessorhomeaddressesofitscurrent |
|---|
| 1969 | | - | directorsandofficersandofanyotherprincipalsthecorporationprovides; |
|---|
| 1970 | | - | (7)whethertheforeigncorporationhasmembers;and |
|---|
| 1971 | | - | (8)whetherthecorporation,ifithadbeenincorporatedinthisState, |
|---|
| 1972 | | - | wouldbeapublicbenefitormutualbenefitcorporation. |
|---|
| 1973 | | - | (b)Theforeigncorporationshalldeliverwiththecompletedapplicationa |
|---|
| 1974 | | - | certificateofexistence,(oradocumentofsimilarimport),dulyauthenticated |
|---|
| 1975 | | - | bytheSecretaryofStateorotherofficialhavingcustodyofcorporaterecords |
|---|
| 1976 | | - | inthestateorcountryunderwhoselawitisincorporated. |
|---|
| 1977 | | - | *** |
|---|
| 1978 | | - | §15.06.CORPORATENAMEOFFOREIGNCORPORATION |
|---|
| 1979 | | - | (a)Ifthecorporatenameofaforeigncorporationdoesnotsatisfythe |
|---|
| 1980 | | - | requirementsofsection4.01ofthistitle,theforeigncorporationtoobtainor |
|---|
| 1981 | | - | maintainacertificateofauthoritytotransactbusinessinthisState: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 1982 | | - | 2025 Page92of227 |
|---|
| 1983 | | - | (1)mayaddtheword“corporation,”“incorporated,”“company,”or |
|---|
| 1984 | | - | “limited,”ortheabbreviation“corp.,”“inc.,”“co.,”or“ltd.,”toits |
|---|
| 1985 | | - | corporatenameforuseinthisState;or |
|---|
| 1986 | | - | (2)mayuseanavailabletradeadoptanalternatenametotransact |
|---|
| 1987 | | - | businessinthisStateifitscorporatenameisunavailableanditdeliverstothe |
|---|
| 1988 | | - | SecretaryofStateforfilingacopyoftheresolutionofitsboardofdirectors, |
|---|
| 1989 | | - | certifiedbyitssecretary,adoptingthetradealternatename. |
|---|
| 1990 | | - | (b)Exceptasauthorizedbysubsections(c)and(d)ofthissection,the |
|---|
| 1991 | | - | corporatename,(includingatradeanalternatename,)ofaforeign |
|---|
| 1992 | | - | corporationmustbedistinguishableupontherecordsoftheSecretaryofState |
|---|
| 1993 | | - | fromreservedorregisteredtradenamesorcorporatenames. |
|---|
| 1994 | | - | (c)AforeigncorporationmayapplytotheSecretaryofStatefor |
|---|
| 1995 | | - | authorizationtouseinthisStatethenameofanothercorporationincorporated |
|---|
| 1996 | | - | orauthorizedtotransactbusinessinthisStatethatisnotdistinguishableupon |
|---|
| 1997 | | - | therecordsfromthenameappliedforbysubmittingtotheSecretaryofStatea |
|---|
| 1998 | | - | satisfactorywrittenformindicatingtheothercorporation’sconsentand |
|---|
| 1999 | | - | changeofname. |
|---|
| 2000 | | - | (d)AforeigncorporationmayuseinthisStatethename,(includingthe |
|---|
| 2001 | | - | tradealternatename,)ofanotherdomesticorforeigncorporationthatisused |
|---|
| 2002 | | - | inthisStateiftheothercorporationisincorporatedorauthorizedtotransact |
|---|
| 2003 | | - | businessinthisStateandtheforeigncorporation: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2004 | | - | 2025 Page93of227 |
|---|
| 2005 | | - | *** |
|---|
| 2006 | | - | §15.07.REGISTEREDOFFICEANDREGISTEREDAGENTFOR |
|---|
| 2007 | | - | SERVICEOFPROCESSOFFOREIGNCORPORATION |
|---|
| 2008 | | - | EachforeigncorporationauthorizedtotransactbusinessinthisStatemust |
|---|
| 2009 | | - | continuouslymaintaininthisState: |
|---|
| 2010 | | - | (1)aregisteredofficewiththesameaddressasthatofitsregistered |
|---|
| 2011 | | - | agentforserviceofprocess;and |
|---|
| 2012 | | - | (2)aregisteredagentforserviceofprocess,whomaybe: |
|---|
| 2013 | | - | (A)anindividualwhoresidesinthisStateandwhoseofficeis |
|---|
| 2014 | | - | identicalwiththeregisteredoffice; |
|---|
| 2015 | | - | (B)adomesticbusinessornonprofitcorporationwhoseofficeis |
|---|
| 2016 | | - | identicalwiththeregisteredoffice;or |
|---|
| 2017 | | - | (C)aforeignbusinessornonprofitcorporationauthorizedtotrans- |
|---|
| 2018 | | - | actbusinessinthisStatewhoseofficeisidenticalwiththeregisteredoffice |
|---|
| 2019 | | - | pursuantto11V.S.A.§1655. |
|---|
| 2020 | | - | §15.08.CHANGEOFREGISTEREDOFFICEORREGISTEREDAGENT |
|---|
| 2021 | | - | FORSERVICEOFPROCESSOFFOREIGNCORPORATION |
|---|
| 2022 | | - | (a)AforeigncorporationauthorizedtotransactbusinessinthisStatemay |
|---|
| 2023 | | - | changeitsregisteredofficeorregisteredagentforserviceofprocessby |
|---|
| 2024 | | - | deliveringtotheSecretaryofStateforfilingastatementofchangethatsets |
|---|
| 2025 | | - | forth: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2026 | | - | 2025 Page94of227 |
|---|
| 2027 | | - | (1)itsname; |
|---|
| 2028 | | - | (2)thestreetaddressofitscurrentregisteredoffice; |
|---|
| 2029 | | - | (3)ifthecurrentregisteredofficeistobechanged,thestreetaddressof |
|---|
| 2030 | | - | itsnewregisteredoffice; |
|---|
| 2031 | | - | (4)thenameofitscurrentregisteredagent; |
|---|
| 2032 | | - | (5)ifthecurrentregisteredagentistobechanged,thenameofitsnew |
|---|
| 2033 | | - | registeredagentandthenewagent’swrittenconsent(eitheronthestatement |
|---|
| 2034 | | - | orattachedtoit)totheappointment;and |
|---|
| 2035 | | - | (6)thatafterthechangeorchangesaremade,thestreetaddressesofits |
|---|
| 2036 | | - | registeredofficeandtheofficeofitsregisteredagentwillbeidentical. |
|---|
| 2037 | | - | (b)Ifaregisteredagentchangesthestreetaddressofitsbusinessoffice,the |
|---|
| 2038 | | - | agentmaychangetheaddressoftheregisteredofficeofanyforeign |
|---|
| 2039 | | - | corporationforwhichtheagentistheregisteredagentbynotifyingthe |
|---|
| 2040 | | - | corporationinwritingofthechangeandsigning(eithermanuallyorin |
|---|
| 2041 | | - | facsimile)anddeliveringtotheSecretaryofStateforfilingastatementof |
|---|
| 2042 | | - | changethatcomplieswiththerequirementsofsubsection(a)ofthissection |
|---|
| 2043 | | - | andrecitesthatthecorporationhasbeennotifiedofthechangepursuantto |
|---|
| 2044 | | - | 11 V.S.A.§1655. |
|---|
| 2045 | | - | §15.09.RESIGNATIONOFREGISTEREDAGENTOFFOREIGN |
|---|
| 2046 | | - | CORPORATION BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2047 | | - | 2025 Page95of227 |
|---|
| 2048 | | - | (a)Theregisteredagentofaforeigncorporationmayresignasagentby |
|---|
| 2049 | | - | signinganddeliveringtotheSecretaryofStateforfilingastatementof |
|---|
| 2050 | | - | resignationpursuantto11V.S.A.§1655theoriginalandtwoexactor |
|---|
| 2051 | | - | conformedcopiesofastatementofresignation.Thestatementofresignation |
|---|
| 2052 | | - | mayincludeastatementthattheregisteredofficeisalsodiscontinued. |
|---|
| 2053 | | - | (b)Afterfilingthestatement,theSecretaryofStateshallattachthefiling |
|---|
| 2054 | | - | receipttoonecopyandmailthecopyandreceipttotheregisteredofficeifnot |
|---|
| 2055 | | - | discontinued.TheSecretaryofStateshallmailtheothercopytotheforeign |
|---|
| 2056 | | - | corporationatitsprincipalofficeaddressshowninitsmostrecentbiennial |
|---|
| 2057 | | - | report. |
|---|
| 2058 | | - | (c)Theagencyisterminated,andtheregisteredofficediscontinuedifso |
|---|
| 2059 | | - | provided,onthe31stdayafterthedateonwhichthestatementwasfiled. |
|---|
| 2060 | | - | §15.10.SERVICEONFOREIGNCORPORATION |
|---|
| 2061 | | - | (a)Theregisteredagentofaforeigncorporationauthorizedtotransact |
|---|
| 2062 | | - | businessinthisStateisthecorporation’sagentforserviceofprocess,notice, |
|---|
| 2063 | | - | ordemandrequiredorpermittedbylawtobeservedontheforeign |
|---|
| 2064 | | - | corporation. |
|---|
| 2065 | | - | (b)Aforeigncorporationmaybeservedbyregisteredorcertifiedmail, |
|---|
| 2066 | | - | returnreceiptrequested,addressedtothesecretaryoftheforeigncorporation |
|---|
| 2067 | | - | atitsprincipalofficeshowninitsapplicationforacertificateofauthorityor BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2068 | | - | 2025 Page96of227 |
|---|
| 2069 | | - | initsmostrecentbiennialreportfiledundersection16.22ofthistitleifthe |
|---|
| 2070 | | - | foreigncorporation: |
|---|
| 2071 | | - | (1)hasnoregisteredagentoritsregisteredagentcannotwithreasonable |
|---|
| 2072 | | - | diligencebeserved; |
|---|
| 2073 | | - | (2)haswithdrawnfromtransactingbusinessinthisStateundersection |
|---|
| 2074 | | - | 15.20ofthistitle;or |
|---|
| 2075 | | - | (3)hashaditscertificateofauthorityrevokedundersection15.31ofthis |
|---|
| 2076 | | - | title. |
|---|
| 2077 | | - | (c)Serviceisperfectedundersubsection(b)ofthissectionattheearliest |
|---|
| 2078 | | - | of: |
|---|
| 2079 | | - | (1)thedatetheforeigncorporationreceivesthemail; |
|---|
| 2080 | | - | (2)thedateshownonthereturnreceipt,ifsignedonbehalfofthe |
|---|
| 2081 | | - | foreigncorporation;or |
|---|
| 2082 | | - | (3)fivedaysafteritsdepositintheU.S.mail,asevidencedbythe |
|---|
| 2083 | | - | postmarkifmailedpostpaidandcorrectlyaddressed. |
|---|
| 2084 | | - | (d)Thissectiondoesnotprescribetheonlymeans,ornecessarilythe |
|---|
| 2085 | | - | requiredmeans,ofservingaforeigncorporationAforeigncorporationis |
|---|
| 2086 | | - | subjecttotheserviceofprocessprovisionsin11V.S.A.§1656. |
|---|
| 2087 | | - | §15.20.WITHDRAWALOFFOREIGNCORPORATION |
|---|
| 2088 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2089 | | - | 2025 Page97of227 |
|---|
| 2090 | | - | (b)AforeigncorporationauthorizedtotransactbusinessinthisStatemay |
|---|
| 2091 | | - | applyforacertificateofwithdrawalbydeliveringanapplicationtothe |
|---|
| 2092 | | - | SecretaryofStateforfiling.Theapplicationmustsetforth: |
|---|
| 2093 | | - | (1)thenameoftheforeigncorporationandthenameofthestateor |
|---|
| 2094 | | - | countryunderwhoselawitisincorporated; |
|---|
| 2095 | | - | (2)thatitisnottransactingbusinessinthisStateandthatitsurrenders |
|---|
| 2096 | | - | itsauthoritytotransactbusinessinthisState; |
|---|
| 2097 | | - | (3)thatitrevokestheauthorityofitsregisteredagentforserviceof |
|---|
| 2098 | | - | processtoacceptserviceonitsbehalfandappointstheSecretaryofStateasits |
|---|
| 2099 | | - | agentforserviceofprocessinanyproceedingbasedonacauseofaction |
|---|
| 2100 | | - | arisingduringthetimeitwasauthorizedtodobusinessinthisState; |
|---|
| 2101 | | - | (4)amailingaddresstowhichtheSecretaryofStatemaymailacopyof |
|---|
| 2102 | | - | anyprocessservedonhimorherundersubdivision(3)ofthissubsection;and |
|---|
| 2103 | | - | (5)acommitmenttonotifytheSecretaryofStateinthefutureofany |
|---|
| 2104 | | - | changeinthemailingaddress. |
|---|
| 2105 | | - | *** |
|---|
| 2106 | | - | §15.30.INVOLUNTARYTERMINATION |
|---|
| 2107 | | - | (a)TheSecretaryofStateshallterminatethecertificateofauthorityofa |
|---|
| 2108 | | - | foreigncorporationif: |
|---|
| 2109 | | - | (1)theforeigncorporationfailstodeliveritsbiennialreporttothe |
|---|
| 2110 | | - | SecretaryofStateasrequiredbysection16.22ofthistitle; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2111 | | - | 2025 Page98of227 |
|---|
| 2112 | | - | (2)theforeigncorporationdoesnotpayanypenaltiesimposedbythis |
|---|
| 2113 | | - | titleorotherlaw; |
|---|
| 2114 | | - | (3)theforeigncorporationiswithoutaregisteredagentforserviceof |
|---|
| 2115 | | - | processorregisteredofficeinthisState; |
|---|
| 2116 | | - | (4)theforeigncorporationfailstoinformtheSecretaryofStateunder |
|---|
| 2117 | | - | section15.08or15.09ofthistitlethatitsregisteredagentforserviceof |
|---|
| 2118 | | - | processorregisteredofficehaschanged; |
|---|
| 2119 | | - | (5)amaterialmisrepresentationisknowinglymadeinasigned |
|---|
| 2120 | | - | documentdeliveredtotheSecretaryofStateforfiling; |
|---|
| 2121 | | - | (6)theSecretaryofStatereceivesadulyauthenticatedcertificatefrom |
|---|
| 2122 | | - | thesecretaryofstateorotherofficialhavingcustodyofcorporationrecordsin |
|---|
| 2123 | | - | thestateorcountryunderwhoselawtheforeigncorporationisincorporated |
|---|
| 2124 | | - | statingthatithasbeendissolvedorterminatedordisappearedastheresultof |
|---|
| 2125 | | - | amerger;or |
|---|
| 2126 | | - | (7)theforeigncorporationhasfailedtocomplywithsubdivision |
|---|
| 2127 | | - | 11.07(a)ofthistitlerequiringittofilearticlesofmergerwhereitisthe |
|---|
| 2128 | | - | survivorofamergerwithadomesticcorporation. |
|---|
| 2129 | | - | (b)TheSecretaryofStateshallservetheforeigncorporationwithwritten |
|---|
| 2130 | | - | noticeofterminationofitscertificateofauthorityundersection15.10ofthis |
|---|
| 2131 | | - | title,settingouteachdeficiency. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2132 | | - | 2025 Page99of227 |
|---|
| 2133 | | - | (c)TheauthorityofaforeigncorporationtotransactbusinessinthisState |
|---|
| 2134 | | - | ceasesonthedateshownonthenoticeterminatingitscertificateofauthority. |
|---|
| 2135 | | - | Terminationofaforeigncorporation’scertificateofauthoritydoesnot |
|---|
| 2136 | | - | terminatetheauthorityoftheregisteredagentforserviceofprocessofthe |
|---|
| 2137 | | - | corporation. |
|---|
| 2138 | | - | (d)TheSecretaryofState’sterminationofaforeigncorporation’s |
|---|
| 2139 | | - | certificateofauthorityappointstheSecretaryofStatetheforeign |
|---|
| 2140 | | - | corporation’sagentforserviceofprocessinanyproceedingbasedonacause |
|---|
| 2141 | | - | ofactionthataroseduringthetimetheforeigncorporationwasauthorizedto |
|---|
| 2142 | | - | transactorwastransactingwithoutauthorizationbusinessinthisState. |
|---|
| 2143 | | - | ServiceofprocessontheSecretaryofStateunderthissubsectionisserviceon |
|---|
| 2144 | | - | theforeigncorporation.Uponreceiptofprocess,theSecretaryofStateshall |
|---|
| 2145 | | - | mailacopyoftheprocesstothesecretaryoftheforeigncorporationatits |
|---|
| 2146 | | - | principalofficeshowninitsmostrecentbiennialreportorinanysubsequent |
|---|
| 2147 | | - | communicationreceivedfromthecorporationstatingthecurrentmailing |
|---|
| 2148 | | - | addressofitsprincipaloffice,or,ifnoneisonfile,initsapplicationfora |
|---|
| 2149 | | - | certificateofauthority,orotherwiseperfectserviceundersection15.10ofthis |
|---|
| 2150 | | - | title. |
|---|
| 2151 | | - | (e)Iftheforeigncorporationcorrectseachgroundforterminationand |
|---|
| 2152 | | - | demonstratestothereasonablesatisfactionoftheSecretaryofStatethateach |
|---|
| 2153 | | - | groundcitedinthenoticeofterminationdoesnotexist,andpaystothe BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2154 | | - | 2025 Page100of227 |
|---|
| 2155 | | - | SecretaryofStateafeeof$25.00thefeespecifiedin11V.S.A.§1651foreach |
|---|
| 2156 | | - | yearitisdelinquent,theSecretarymaycanceltheterminationandpreparea |
|---|
| 2157 | | - | certificateofreinstatement,filetheoriginalofthecertificate,andserveacopy |
|---|
| 2158 | | - | onthecorporationundersection15.10ofthistitle. |
|---|
| 2159 | | - | *** |
|---|
| 2160 | | - | Sec.21.11BV.S.A.chapter16isamendedtoread: |
|---|
| 2161 | | - | CHAPTER16.RECORDSANDREPORTS |
|---|
| 2162 | | - | *** |
|---|
| 2163 | | - | §16.22.BIENNIALREPORTFORSECRETARYOFSTATE |
|---|
| 2164 | | - | (a)Eachdomesticcorporation,andeachforeigncorporationauthorizedto |
|---|
| 2165 | | - | transactbusinessinthisState,shalldelivertotheSecretaryofStateabiennial |
|---|
| 2166 | | - | reportonaformprescribedandfurnishedbytheSecretaryofStatethatsets |
|---|
| 2167 | | - | forth: |
|---|
| 2168 | | - | (1)thenameofthecorporationandthestateorcountryunderwhose |
|---|
| 2169 | | - | lawitisincorporated; |
|---|
| 2170 | | - | (2)theaddressofitsregisteredofficeandthenameandemailofits |
|---|
| 2171 | | - | registeredagentforserviceofprocessattheofficeinthisState; |
|---|
| 2172 | | - | (3)theaddressofitsprincipaloffice; |
|---|
| 2173 | | - | (4)thenamesandbusinessorresidenceaddressesofitsdirectorsand |
|---|
| 2174 | | - | principalofficers;and |
|---|
| 2175 | | - | (5)abriefdescriptionofthenatureofitsactivities. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2176 | | - | 2025 Page101of227 |
|---|
| 2177 | | - | (b)Theinformationinthebiennialreportmustbecurrentonthedatethe |
|---|
| 2178 | | - | biennialreportisexecutedonbehalfofthecorporation. |
|---|
| 2179 | | - | (c)ThefirstbiennialreportmustbedeliveredtotheSecretaryofState |
|---|
| 2180 | | - | betweenJanuary1andApril1oftheyearfollowingthecalendaryearin |
|---|
| 2181 | | - | whichadomesticcorporationwasincorporatedoraforeigncorporationwas |
|---|
| 2182 | | - | authorizedtotransactbusiness.Subsequentbiennialreportsmustbedelivered |
|---|
| 2183 | | - | totheSecretaryofStatebetweenJanuary1andApril1followingeach |
|---|
| 2184 | | - | succeedingtwocalendaryears. |
|---|
| 2185 | | - | (d)Ifabiennialreportdoesnotcontaintheinformationrequiredbythis |
|---|
| 2186 | | - | section,theSecretaryofStateshallpromptlynotifythereportingdomesticor |
|---|
| 2187 | | - | foreigncorporationinwritingandreturnthereporttoitforcorrection.Ifthe |
|---|
| 2188 | | - | reportiscorrectedtocontaintheinformationrequiredbythissectionand |
|---|
| 2189 | | - | deliveredtotheSecretaryofStatewithin30daysaftertheeffectivedateof |
|---|
| 2190 | | - | notice,itisdeemedtobetimelyfiled. |
|---|
| 2191 | | - | (e)TheSecretaryofStateshallamenditsrecordstoreflectachange,if |
|---|
| 2192 | | - | specifiedinthereport,tothebusiness’spurpose,email,address,orprincipal |
|---|
| 2193 | | - | information. |
|---|
| 2194 | | - | ***UpdatestoTitle11Clanguage*** |
|---|
| 2195 | | - | Sec.22.11CV.S.A.chapter1isamendedtoread: |
|---|
| 2196 | | - | CHAPTER1.GENERALPROVISIONS |
|---|
| 2197 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2198 | | - | 2025 Page102of227 |
|---|
| 2199 | | - | §112.RESERVATIONOFNAME |
|---|
| 2200 | | - | (a)Apersonmayreservetheexclusiveuseofthenameofamutualbenefit |
|---|
| 2201 | | - | enterprise,includingafictitiousnameforaforeignenterprisewhosenameis |
|---|
| 2202 | | - | notavailableundersection111ofthistitle,bydeliveringanapplicationtothe |
|---|
| 2203 | | - | SecretaryofStateforfiling.Theapplicationshallsetforththenameand |
|---|
| 2204 | | - | addressoftheapplicantandthenameproposedtobereserved.IftheSecretary |
|---|
| 2205 | | - | ofStatefindsthatthenameappliedforisavailableundersection111ofthis |
|---|
| 2206 | | - | title,theSecretaryofStateshallreservethenamefortheapplicant’sexclusive |
|---|
| 2207 | | - | useforanonrenewableperiodof120days. |
|---|
| 2208 | | - | (b)Apersonwhohasreservedanameforamutualbenefitenterprisemay |
|---|
| 2209 | | - | transferthereservationtoanotherpersonbydeliveringtotheSecretaryof |
|---|
| 2210 | | - | Stateasignednoticeofthetransferwhichstatesthename,streetaddress,and, |
|---|
| 2211 | | - | ifdifferent,themailingaddressofthetransferee.Ifthepersonisanorganizer |
|---|
| 2212 | | - | oftheenterpriseandthenameoftheenterpriseisthesameasthereserved |
|---|
| 2213 | | - | name,thedeliveryofarticlesoforganizationforfilingbytheSecretaryofState |
|---|
| 2214 | | - | isatransferbythepersontotheenterpriseApersonmayreservetheexclusive |
|---|
| 2215 | | - | useofabusinessnamebydeliveringanapplicationtotheSecretaryofState |
|---|
| 2216 | | - | forfilingpursuantto11V.S.A.§1652. |
|---|
| 2217 | | - | *** |
|---|
| 2218 | | - | §117.DESIGNATEDOFFICEANDAGENTFORSERVICEOFPROCESS BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2219 | | - | 2025 Page103of227 |
|---|
| 2220 | | - | (a)Amutualbenefitenterpriseoraforeignenterprisethathasacertificate |
|---|
| 2221 | | - | ofauthorityundersection1404ofthistitleshalldesignateandcontinuously |
|---|
| 2222 | | - | maintaininthisState: |
|---|
| 2223 | | - | (1)anoffice,asitsdesignatedoffice,whichneednotbeaplaceofthe |
|---|
| 2224 | | - | enterprise’sorforeignenterprise’sactivityinthisState;and |
|---|
| 2225 | | - | (2)anagentforserviceofprocess,pursuantto11V.S.A.§1655,atthe |
|---|
| 2226 | | - | designatedoffice. |
|---|
| 2227 | | - | (b)Anagentforserviceofprocessofamutualbenefitenterpriseorforeign |
|---|
| 2228 | | - | enterpriseshallbeanindividualwhoisaresidentofthisStateoranentitythat |
|---|
| 2229 | | - | isauthorizedtodobusinessinthisState. |
|---|
| 2230 | | - | §118.CHANGEOFDESIGNATEDOFFICEORAGENTFORSERVICE |
|---|
| 2231 | | - | OFPROCESS |
|---|
| 2232 | | - | (a)Exceptasotherwiseprovidedinsubsection207(e)ofthistitle,tochange |
|---|
| 2233 | | - | itsdesignatedoffice,itsagentforserviceofprocess,orthestreetaddressor,if |
|---|
| 2234 | | - | different,mailingaddressofitsprincipaloffice,amutualbenefitenterprise |
|---|
| 2235 | | - | shalldelivertotheSecretaryofStateforfilingastatementofchange |
|---|
| 2236 | | - | containing: |
|---|
| 2237 | | - | (1)thenameofthemutualbenefitenterprise; |
|---|
| 2238 | | - | (2)thestreetaddressand,ifdifferent,mailingaddressofitsdesignated |
|---|
| 2239 | | - | office; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2240 | | - | 2025 Page104of227 |
|---|
| 2241 | | - | (3)ifthedesignatedofficeistobechanged,thestreetaddressand,if |
|---|
| 2242 | | - | different,mailingaddressofthenewdesignatedoffice; |
|---|
| 2243 | | - | (4)thenameofitsagentforserviceofprocess;and |
|---|
| 2244 | | - | (5)iftheagentforserviceofprocessistobechanged,thenameofthe |
|---|
| 2245 | | - | newagent. |
|---|
| 2246 | | - | (b)Exceptasotherwiseprovidedinsubsection207(e)ofthistitle,tochange |
|---|
| 2247 | | - | itsagentforserviceofprocess,theaddressofitsdesignatedoffice,orthe |
|---|
| 2248 | | - | streetaddressor,ifdifferent,mailingaddressofitsprincipaloffice,aforeign |
|---|
| 2249 | | - | enterpriseshalldelivertotheSecretaryofStateforfilingastatementof |
|---|
| 2250 | | - | changecontaining: |
|---|
| 2251 | | - | (1)thenameoftheforeignenterprise; |
|---|
| 2252 | | - | (2)thename,streetaddress,and,ifdifferent,mailingaddressofits |
|---|
| 2253 | | - | designatedoffice; |
|---|
| 2254 | | - | (3)ifthecurrentagentforserviceofprocessoranaddressofthe |
|---|
| 2255 | | - | designatedofficeistobechanged,thenewinformation; |
|---|
| 2256 | | - | (4)thestreetaddressand,ifdifferent,themailingaddressofitsprincipal |
|---|
| 2257 | | - | office;and |
|---|
| 2258 | | - | (5)ifthestreetaddressor,ifdifferent,themailingaddressofits |
|---|
| 2259 | | - | principalofficeistobechanged,thestreetaddressand,ifdifferent,the |
|---|
| 2260 | | - | mailingaddressofthenewprincipaloffice. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2261 | | - | 2025 Page105of227 |
|---|
| 2262 | | - | (c)Exceptasotherwiseprovidedinsection204ofthistitle,astatementof |
|---|
| 2263 | | - | changeiseffectivewhenfiledbytheSecretaryofStateAmutualbenefit |
|---|
| 2264 | | - | enterpriseorforeignenterpriseshallchangeitsdesignatedofficeoragentfor |
|---|
| 2265 | | - | serviceofprocessinformationbysubmittingtotheSecretaryofStateforfiling |
|---|
| 2266 | | - | astatementofchangepursuantto11V.S.A.§1655. |
|---|
| 2267 | | - | §119.RESIGNATIONOFAGENTFORSERVICEOFPROCESS |
|---|
| 2268 | | - | (a)Toresignasanagentforserviceofprocessofamutualbenefit |
|---|
| 2269 | | - | enterpriseorforeignenterprise,theagentshalldelivertotheSecretaryof |
|---|
| 2270 | | - | Stateforfilingastatementofresignationcontainingthenameoftheagentand |
|---|
| 2271 | | - | thenameoftheenterpriseorforeignenterprise. |
|---|
| 2272 | | - | (b)Afterreceivingastatementofresignationundersubsection(a)ofthis |
|---|
| 2273 | | - | section,theSecretaryofStateshallfileitandmailorotherwiseprovideor |
|---|
| 2274 | | - | deliveracopytothemutualbenefitenterpriseorforeignenterpriseatits |
|---|
| 2275 | | - | principaloffice. |
|---|
| 2276 | | - | (c)Anagencyforserviceofprocessofamutualbenefitenterpriseor |
|---|
| 2277 | | - | foreignenterpriseterminatesontheearlierof: |
|---|
| 2278 | | - | (1)the31stdayaftertheSecretaryofStatefilesastatementof |
|---|
| 2279 | | - | resignationundersubsection(b)ofthissection;or |
|---|
| 2280 | | - | (2)whenarecorddesignatinganewagentforserviceofprocessis |
|---|
| 2281 | | - | deliveredtotheSecretaryofStateforfilingonbehalfoftheenterpriseor |
|---|
| 2282 | | - | foreignenterpriseandbecomeseffectiveAnagentforserviceofprocessmay BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2283 | | - | 2025 Page106of227 |
|---|
| 2284 | | - | resignasagentbysubmittingtotheSecretaryofStateforfilingastatementof |
|---|
| 2285 | | - | resignationpursuantto11V.S.A.§1655. |
|---|
| 2286 | | - | §120.SERVICEOFPROCESS |
|---|
| 2287 | | - | (a)Anagentforserviceofprocessappointedbyamutualbenefitenterprise |
|---|
| 2288 | | - | orforeignenterpriseisanagentoftheenterpriseorforeignenterprisefor |
|---|
| 2289 | | - | serviceofprocess,notice,orademandrequiredorpermittedbylawtobe |
|---|
| 2290 | | - | servedupontheenterpriseorforeignenterprise. |
|---|
| 2291 | | - | (b)Ifamutualbenefitenterpriseorforeignenterprisedoesnotappointor |
|---|
| 2292 | | - | maintainanagentforserviceofprocessinthisStateortheagentforserviceof |
|---|
| 2293 | | - | processcannotwithreasonablediligencebefoundattheaddressofthe |
|---|
| 2294 | | - | designatedofficeonfilewiththeSecretaryofState,theSecretaryofStateisan |
|---|
| 2295 | | - | agentoftheenterpriseorforeignenterpriseuponwhichprocess,notice,ora |
|---|
| 2296 | | - | demandmaybeserved. |
|---|
| 2297 | | - | (c)Serviceofprocess,notice,orademandontheSecretaryofStateas |
|---|
| 2298 | | - | agentofamutualbenefitenterpriseorforeignenterprisemaybemadeby |
|---|
| 2299 | | - | deliveringtotheSecretaryofStatetwocopiesoftheprocess,notice,or |
|---|
| 2300 | | - | demand.TheSecretaryofStateshallforwardonecopybyregisteredor |
|---|
| 2301 | | - | certifiedmail,returnreceiptrequested,totheenterpriseorforeignenterprise |
|---|
| 2302 | | - | atitsprincipaloffice. |
|---|
| 2303 | | - | (d)Serviceiseffectedundersubsection(c)ofthissectionontheearliestof: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2304 | | - | 2025 Page107of227 |
|---|
| 2305 | | - | (1)thedatethemutualbenefitenterpriseorforeignenterprisereceives |
|---|
| 2306 | | - | theprocess,notice,ordemand; |
|---|
| 2307 | | - | (2)thedateshownonthereturnreceipt,ifsignedonbehalfofthe |
|---|
| 2308 | | - | enterpriseorforeignenterprise;or |
|---|
| 2309 | | - | (3)fivedaysaftertheprocess,notice,ordemandisdepositedbythe |
|---|
| 2310 | | - | SecretaryofStatefordeliverybytheU.S.PostalService,ifpostageisprepaid |
|---|
| 2311 | | - | totheaddressoftheprincipalofficeonfilewiththeSecretaryofState. |
|---|
| 2312 | | - | (e)TheSecretaryofStateshallkeeparecordofeachprocess,notice,and |
|---|
| 2313 | | - | demandservedpursuanttothissectionandrecordthetimeofandtheaction |
|---|
| 2314 | | - | takenregardingtheservice. |
|---|
| 2315 | | - | (f)Thissectiondoesnotaffecttherighttoserveprocess,notice,ora |
|---|
| 2316 | | - | demandinanyothermannerprovidedbylawAmutualbenefitenterpriseor |
|---|
| 2317 | | - | foreignenterpriseissubjecttotheserviceofprocessprovisionsin11V.S.A. |
|---|
| 2318 | | - | § 1656. |
|---|
| 2319 | | - | Sec.23.11CV.S.A.chapter2isamendedtoread: |
|---|
| 2320 | | - | CHAPTER2.FILINGANDANNUALREPORTS |
|---|
| 2321 | | - | *** |
|---|
| 2322 | | - | §202.SIGNINGANDFILINGOFRECORDSPURSUANTTOJUDICIAL |
|---|
| 2323 | | - | ORDER |
|---|
| 2324 | | - | (a)Ifapersonrequiredbythistitletosignordeliverarecordtothe |
|---|
| 2325 | | - | SecretaryofStateforfilingdoesnotdoso,theSuperiorCourtofthecountyof BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2326 | | - | 2025 Page108of227 |
|---|
| 2327 | | - | themutualbenefitenterprise’sprincipalofficeortheforeignenterprise’s |
|---|
| 2328 | | - | registereddesignatedoffice,uponpetitionofanaggrievedperson,mayorder: |
|---|
| 2329 | | - | (1)thepersontosigntherecordanddeliverittotheSecretaryofState |
|---|
| 2330 | | - | forfiling;or |
|---|
| 2331 | | - | (2)deliveryoftheunsignedrecordtotheSecretaryofStateforfiling. |
|---|
| 2332 | | - | *** |
|---|
| 2333 | | - | §206.CERTIFICATEOFGOODSTANDINGORAUTHORIZATION |
|---|
| 2334 | | - | (a)TheSecretaryofState,uponrequestandpaymentoftherequiredfee, |
|---|
| 2335 | | - | shallfurnishanypersonthatrequestsitacertificateofgoodstandingfora |
|---|
| 2336 | | - | mutualbenefitenterpriseiftherecordsfiledintheOfficeoftheSecretaryof |
|---|
| 2337 | | - | StateshowthattheSecretaryofStatehasfiledtheenterprise’sarticlesof |
|---|
| 2338 | | - | organization,thattheenterpriseisingoodstanding,andthattheSecretaryof |
|---|
| 2339 | | - | Statehasnotfiledastatementoftermination. |
|---|
| 2340 | | - | (b)TheSecretaryofState,uponrequestandpaymentoftherequiredfee, |
|---|
| 2341 | | - | shallfurnishtoanypersonthatrequestsitacertificateofauthority |
|---|
| 2342 | | - | authorizationforaforeignenterpriseiftherecordsfiledintheOfficeofthe |
|---|
| 2343 | | - | SecretaryofStateshowthattheSecretaryofStatehasfiledtheforeign |
|---|
| 2344 | | - | enterprise’scertificateofauthority,hasnotrevokednorhasreasontorevoke |
|---|
| 2345 | | - | thecertificateofauthority,andhasnotfiledanoticeofcancellation. |
|---|
| 2346 | | - | (c)Subjecttoanyexceptionsstatedinthecertificate,acertificateofgood |
|---|
| 2347 | | - | standingorauthorityauthorizationissuedbytheSecretaryofStateestablishes BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2348 | | - | 2025 Page109of227 |
|---|
| 2349 | | - | conclusivelythatthemutualbenefitenterpriseorforeignenterpriseisingood |
|---|
| 2350 | | - | standingorisauthorizedtotransactbusinessinthisState. |
|---|
| 2351 | | - | §207.ANNUALREPORTFORSECRETARYOFSTATE |
|---|
| 2352 | | - | (a)Amutualbenefitenterpriseorforeignenterpriseauthorizedtotransact |
|---|
| 2353 | | - | businessinthisStateshalldelivertotheSecretaryofStateforfilinganannual |
|---|
| 2354 | | - | reportthatstates: |
|---|
| 2355 | | - | (1)thenameoftheenterpriseorforeignenterprise; |
|---|
| 2356 | | - | (2)thestreetaddressand,ifdifferent,mailingaddressofthe |
|---|
| 2357 | | - | enterprise’sorforeignenterprise’sdesignatedofficeandthenameofitsagent |
|---|
| 2358 | | - | forserviceofprocessatthedesignatedoffice; |
|---|
| 2359 | | - | (3)thestreetaddressand,ifdifferent,mailingaddressofthe |
|---|
| 2360 | | - | enterprise’sorforeignenterprise’sprincipaloffice; |
|---|
| 2361 | | - | (4)thenameandbusinessaddressofanydirectororofficer;and |
|---|
| 2362 | | - | (5)inthecaseofaforeignenterprise,thestateorotherjurisdiction |
|---|
| 2363 | | - | underwhoselawtheforeignenterpriseisformedandanyalternativename |
|---|
| 2364 | | - | adoptedundersection1405ofthistitle. |
|---|
| 2365 | | - | (b)Informationinanannualreportshallbecurrentasofthedatethe |
|---|
| 2366 | | - | reportisdeliveredtotheSecretaryofState. |
|---|
| 2367 | | - | (c)Amutualbenefitenterpriseorforeignenterpriseauthorizedtotransact |
|---|
| 2368 | | - | businessinthisStateshalldeliveritsannualreporttotheSecretaryforfiling |
|---|
| 2369 | | - | betweenJanuary1andApril1ofeachyear,beginningintheyearfollowing BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2370 | | - | 2025 Page110of227 |
|---|
| 2371 | | - | thecalendaryearinwhichthemutualbenefitenterpriseisformedorthe |
|---|
| 2372 | | - | foreignenterpriseisauthorizedtotransactbusinessinthisState. |
|---|
| 2373 | | - | (d)Ifanannualreportdoesnotcontaintheinformationrequiredby |
|---|
| 2374 | | - | subsection(a)ofthissection,theSecretaryofStateshallpromptlynotifythe |
|---|
| 2375 | | - | reportingmutualbenefitenterpriseorforeignenterpriseandreturnthereport |
|---|
| 2376 | | - | forcorrection.Ifthereportiscorrectedtocontaintheinformationrequiredby |
|---|
| 2377 | | - | subsection(a)ofthissectionanddeliveredtotheSecretaryofStatenotlater |
|---|
| 2378 | | - | than30daysafterthedateofthenoticefromtheSecretaryofState,itistimely |
|---|
| 2379 | | - | delivered. |
|---|
| 2380 | | - | (e)Ifafiledannualreportcontainsanaddressofthedesignatedoffice,the |
|---|
| 2381 | | - | nameorbusinessaddressofadirectororofficer,oraddressoftheprincipal |
|---|
| 2382 | | - | officewhichdiffersfromtheinformationshownintherecordsoftheSecretary |
|---|
| 2383 | | - | ofStateimmediatelybeforethefiling,thedifferinginformationintheannual |
|---|
| 2384 | | - | reportisconsideredastatementofchangeTheSecretaryofStateshallamend |
|---|
| 2385 | | - | itsrecordstoreflectachange,ifspecifiedinthereport,tothebusiness’s |
|---|
| 2386 | | - | purpose,email,address,orprincipalinformation. |
|---|
| 2387 | | - | *** |
|---|
| 2388 | | - | §208.FILINGFEES |
|---|
| 2389 | | - | ThefilingfeesforrecordsfiledunderthisarticlebytheSecretaryofState |
|---|
| 2390 | | - | arethesameasthosesetforthforalimitedliabilitycompanyunder11V.S.A.§ BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2391 | | - | 2025 Page111of227 |
|---|
| 2392 | | - | 3013Apersonwhosubmitsadocumentforfilingpursuanttothistitleshall |
|---|
| 2393 | | - | paytotheSecretaryofStatetheamountspecifiedin11V.S.A.§1651. |
|---|
| 2394 | | - | Sec.24.11CV.S.A.chapter14isamendedtoread: |
|---|
| 2395 | | - | CHAPTER14.FOREIGNENTERPRISES |
|---|
| 2396 | | - | *** |
|---|
| 2397 | | - | §1402.APPLICATIONFORCERTIFICATEOFAUTHORITY |
|---|
| 2398 | | - | (a)Aforeignenterprisemayapplyforacertificateofauthorityby |
|---|
| 2399 | | - | deliveringanapplicationtotheSecretaryofStateforfiling.Theapplication |
|---|
| 2400 | | - | shallstate: |
|---|
| 2401 | | - | (1)thenameoftheforeignenterpriseand,ifthenamedoesnotcomply |
|---|
| 2402 | | - | withsection111ofthistitle,analternativenameadoptedpursuanttosection |
|---|
| 2403 | | - | 1405ofthistitle; |
|---|
| 2404 | | - | (2)thenameofthestateorotherjurisdictionunderwhoselawthe |
|---|
| 2405 | | - | foreignenterpriseisorganized; |
|---|
| 2406 | | - | (3)thestreetaddressand,ifdifferent,mailingaddressoftheprincipal |
|---|
| 2407 | | - | officeand,ifthelawofthejurisdictionunderwhichtheforeignenterpriseis |
|---|
| 2408 | | - | organizedrequirestheforeignenterprisetomaintainanotherofficeinthat |
|---|
| 2409 | | - | jurisdiction,thestreetaddressand,ifdifferent,mailingaddressoftherequired |
|---|
| 2410 | | - | office; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2411 | | - | 2025 Page112of227 |
|---|
| 2412 | | - | (4)thestreetaddressand,ifdifferent,mailingaddressoftheforeign |
|---|
| 2413 | | - | enterprise’sdesignatedofficeinthisState,andthenameoftheforeign |
|---|
| 2414 | | - | enterprise’sagentforserviceofprocessatthedesignatedoffice;and |
|---|
| 2415 | | - | (5)thename,streetaddressand,ifdifferent,mailingaddressofeachof |
|---|
| 2416 | | - | theforeignenterprise’scurrentdirectorsandofficers,andofanyother |
|---|
| 2417 | | - | principaltheenterpriseprovides. |
|---|
| 2418 | | - | *** |
|---|
| 2419 | | - | ***UpdatestoTitle12language*** |
|---|
| 2420 | | - | Sec.25.12V.S.A.chapter25,subchapter6isamendedtoread: |
|---|
| 2421 | | - | Subchapter6.ForeignCorporationsBusinessOrganizations |
|---|
| 2422 | | - | §851.SERVICEONSECRETARYOFSTATE |
|---|
| 2423 | | - | WhenaforeigncorporationhasappointedtheSecretaryofStateasits |
|---|
| 2424 | | - | processagentpursuanttothestatutesrelatingtosuchcorporations,serviceof |
|---|
| 2425 | | - | processmadeupontheSecretarybydeliveringtohimorherduplicatecopies |
|---|
| 2426 | | - | thereof,shallbesufficient.Acopyofthestipulation,filedundertheprovisions |
|---|
| 2427 | | - | of11V.S.A.§3011,11AV.S.A.§15.10,and11BV.S.A.§15.10,certifiedby |
|---|
| 2428 | | - | theSecretary,withhisorhercertificatethatprocesshasbeenservedonhimor |
|---|
| 2429 | | - | her,shallbesufficientevidencethereofAbusinessorganizationissubjectto |
|---|
| 2430 | | - | theserviceofprocessprovisionsin11V.S.A.§1656. |
|---|
| 2431 | | - | §852.FEES;MAILINGOFCOPYTOCORPORATIONBUSINESS |
|---|
| 2432 | | - | ORGANIZATION BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2433 | | - | 2025 Page113of227 |
|---|
| 2434 | | - | WhenprocessisservedontheSecretaryofStateundertheprovisionsof |
|---|
| 2435 | | - | section851ofthistitle11V.S.A.§1656,thereshallbepaidtotheSecretaryby |
|---|
| 2436 | | - | theofficeratthetimeofsuchservicethesumof$35.00amountspecifiedin11 |
|---|
| 2437 | | - | V.S.A.§1651.TheSecretaryshallforthwithforwardbymailprepaidoneofthe |
|---|
| 2438 | | - | duplicatecopiestothecorporationatitshomeofficeortoapersonwhomit |
|---|
| 2439 | | - | designates. |
|---|
| 2440 | | - | §853.DOINGBUSINESSBYPARTICULARCOMPANIESWITHOUT |
|---|
| 2441 | | - | DESIGNATINGPROCESSAGENT;PENALTY |
|---|
| 2442 | | - | Apersonoragentforaforeigninsurance,express,shippingcar,telephone |
|---|
| 2443 | | - | ortelegraphcompany,orotherforeigncompanydoinglikebusiness,which |
|---|
| 2444 | | - | hasnotdesignatedtheSecretaryofStateasitsprocessagent,asrequiredby11 |
|---|
| 2445 | | - | V.S.A.§692whosolicitsorreceivesariskorapplicationforinsurance,or |
|---|
| 2446 | | - | receivesmoneyorvalueforsuchinsurancebysuchcompany,orreceives |
|---|
| 2447 | | - | moneyorvalueforthetransportationofapackageorpropertybysuchexpress |
|---|
| 2448 | | - | orshippingcarcompany,orforthetransmissionofamessageordispatchby |
|---|
| 2449 | | - | suchtelegraphcompany,orreceivesmoney,rent,royalty,orincomeforsuch |
|---|
| 2450 | | - | telephonecompanyfortheuseofitsinstrumentsorlinesorforthesendingof |
|---|
| 2451 | | - | anymessage,shallbefinednotmorethan$500.00norlessthan$100.00. |
|---|
| 2452 | | - | *** |
|---|
| 2453 | | - | §855.DOINGBUSINESSASAPPOINTMENTOFPROCESSAGENT BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2454 | | - | 2025 Page114of227 |
|---|
| 2455 | | - | IfthecontactwiththeStateortheactivityinthestateofaforeign |
|---|
| 2456 | | - | corporationbusinessorganization,orthecontactoractivityimputabletoit,is |
|---|
| 2457 | | - | sufficienttosupportaVermontpersonaljudgmentagainstit,thecontactor |
|---|
| 2458 | | - | activityshallbedeemedtobedoingbusinessinVermontbythatforeign |
|---|
| 2459 | | - | corporationorganizationandshallbeequivalenttotheappointmentbyitof |
|---|
| 2460 | | - | theSecretaryoftheStateofVermontandhisorhertheSecretary’ssuccessors |
|---|
| 2461 | | - | tobeitstrueandlawfulattorneyuponwhommaybeservedalllawfulprocess |
|---|
| 2462 | | - | inanyactionorproceedingsagainstitarisingorgrowingoutofthatcontact |
|---|
| 2463 | | - | oractivity,andalsoshallbedeemedtobeitsagreementthatanyprocess |
|---|
| 2464 | | - | againstitwhichthatissoservedupontheSecretaryofStateshallbeofthe |
|---|
| 2465 | | - | samelegalforceandeffectasifservedontheforeigncorporationatits |
|---|
| 2466 | | - | principalplaceofbusinessinthestateorcountrywhereitisincorporated |
|---|
| 2467 | | - | accordingtothelawofthatstateorcountry. |
|---|
| 2468 | | - | §856.SERVICEOFPROCESS |
|---|
| 2469 | | - | Serviceofprocessbyvirtueofsection855ofthistitleshallbemade |
|---|
| 2470 | | - | pursuantto11V.S.A.§1656bydeliveringtotheSecretaryofStateduplicate |
|---|
| 2471 | | - | copiesoftheprocess,withtheofficer’sreturnofservicethereon,andafeeof |
|---|
| 2472 | | - | $25.00,tobetaxedintheplaintiff’scostsifheorsheprevails.TheSecretary |
|---|
| 2473 | | - | shallforthwithforwardoneoftheduplicatecopiesbyregisteredmailprepaid |
|---|
| 2474 | | - | tothecorporationatitsprincipalplaceofbusinessinthestateorcountry |
|---|
| 2475 | | - | whereitisincorporated,whichprincipalplaceofbusinessshallbestatedin BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2476 | | - | 2025 Page115of227 |
|---|
| 2477 | | - | theprocess.Theserviceshallbesufficientifacopyoftheprocess,withthe |
|---|
| 2478 | | - | officer’sreturnthereonshowingtheserviceupontheSecretaryofState,issent |
|---|
| 2479 | | - | bytheplaintifftotheforeigncorporationbyregisteredmail,andifthe |
|---|
| 2480 | | - | plaintiff’saffidavitofcomplianceherewithisfiledwiththeprocessincourt. |
|---|
| 2481 | | - | TheSecretaryshallfileoneofthecopiesandendorseuponeachcopytheday |
|---|
| 2482 | | - | andhourofservice. |
|---|
| 2483 | | - | §857.CONTINUANCE;COSTS |
|---|
| 2484 | | - | Thecourtinwhichtheactionispendingmayordersuchcontinuancesas |
|---|
| 2485 | | - | maybenecessarytoaffordthedefendantreasonableopportunitytoappear |
|---|
| 2486 | | - | anddefend.Thefeeprovidedinsection856ofthistitleshallbetaxedinthe |
|---|
| 2487 | | - | plaintiff’scostsifheorsheprevails.[Repealed.] |
|---|
| 2488 | | - | §858.ALTERNATIVEMEANSOFSERVICE |
|---|
| 2489 | | - | Asanalternativetoserviceofprocessunderthissubchapterorwhena |
|---|
| 2490 | | - | stipulationappointingtheSecretaryofStateasprocessagentisnotfiledwith |
|---|
| 2491 | | - | theCommissionerofForeignCorporations,processmaybeservedupona |
|---|
| 2492 | | - | foreigncorporationinaccordancewithsections912and913ofthistitleorby |
|---|
| 2493 | | - | anymethodthattheSupremeCourtshallbyruleprovideforserviceupona |
|---|
| 2494 | | - | domesticcorporation.[Repealed.] BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2495 | | - | 2025 Page116of227 |
|---|
| 2496 | | - | ***UpdatestoTitle30language*** |
|---|
| 2497 | | - | Sec.26.30V.S.A.chapter81isamendedtoread: |
|---|
| 2498 | | - | CHAPTER81.ELECTRICUTILITYCOOPERATIVES |
|---|
| 2499 | | - | *** |
|---|
| 2500 | | - | §3001a.PURPOSE |
|---|
| 2501 | | - | CooperativesAcooperativemaybeorganizedunderthischapterforthe |
|---|
| 2502 | | - | purposeofcreatingorsupplyingenergy,cabletelevision,telecommunications, |
|---|
| 2503 | | - | interactivemedia,andinternetaccessandfacilitatingandextendingtheuse |
|---|
| 2504 | | - | thereof,andinaddition,anyotherlawfulbusinessnotinconsistentwiththis |
|---|
| 2505 | | - | chapterthatutilizestheelectricdistributionfacilitiesofthecooperative. |
|---|
| 2506 | | - | §3002.POWERS |
|---|
| 2507 | | - | Acooperativeshallhavepower: |
|---|
| 2508 | | - | (1)Tosueandbesuedinitscorporatename. |
|---|
| 2509 | | - | (2)Tohaveperpetualexistence. |
|---|
| 2510 | | - | (3)Toadoptacorporatesealandalterthesame. |
|---|
| 2511 | | - | (4)Togenerate,manufacture,purchase,acquire,accumulate,and |
|---|
| 2512 | | - | transmitelectricenergy;andtodistribute,sell,supply,anddisposeofenergy, |
|---|
| 2513 | | - | cabletelevision,telecommunications,interactivemedia,andinternetaccessto |
|---|
| 2514 | | - | itsmembers,togovernmentalagencies,andtopoliticalsubdivisions;provided, |
|---|
| 2515 | | - | however,thatinthegenerationofelectricenergybywaterpower,a |
|---|
| 2516 | | - | cooperativeshallcomplywiththeprovisionsof10V.S.A.§§1081–1099, BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2517 | | - | 2025 Page117of227 |
|---|
| 2518 | | - | relatingtotheconstructionandmaintenanceofdamsand,providedfurther, |
|---|
| 2519 | | - | thatacooperativedoinganyactivitygovernedbythistitleshallberegulated |
|---|
| 2520 | | - | forthatactivity. |
|---|
| 2521 | | - | *** |
|---|
| 2522 | | - | §3003.NAME |
|---|
| 2523 | | - | Thenameofacooperativegovernedbythischaptershallincludethewords |
|---|
| 2524 | | - | “utility”or“energy”oraworddesignatinganyspecificformofenergysuch |
|---|
| 2525 | | - | as“electric,”“propane,”or“naturalgas”and“cooperative”andthe |
|---|
| 2526 | | - | abbreviation“inc.”unless,inanaffidavitmadebyitspresidentorvice |
|---|
| 2527 | | - | presidentandfiledwiththeSecretaryofState,orinanaffidavitmadebya |
|---|
| 2528 | | - | personsigningarticlesofincorporation,consolidation,merger,orconversion, |
|---|
| 2529 | | - | whichrelatetothecooperativeandfiled,togetherwiththearticles,withthe |
|---|
| 2530 | | - | SecretaryofState,itshallappearthatthecooperativedesirestodobusinessin |
|---|
| 2531 | | - | anotherstateandisorwouldbeprecludedbyreasonoftheinclusionofthe |
|---|
| 2532 | | - | wordsinitsname.Thenameofacooperativeshallbedistinctfromthename |
|---|
| 2533 | | - | ofanyothercooperativeorcorporationorganizedunderthelawsof,or |
|---|
| 2534 | | - | authorizedtodobusinessin,thisState. |
|---|
| 2535 | | - | *** |
|---|
| 2536 | | - | §3037.FOREIGNCOMPANIES;SERVICEOFPROCESS |
|---|
| 2537 | | - | Aforeignnonprofitorcooperativecorporationsupplyingorauthorizedto |
|---|
| 2538 | | - | supplyelectricenergyandowningoroperatingelectrictransmissionor BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2539 | | - | 2025 Page118of227 |
|---|
| 2540 | | - | distributionlinesinanadjacentstate,priortoMarch26,1943,mayconstruct |
|---|
| 2541 | | - | oracquireextensionsoflinesinthisStatewithinanareanopointofwhichis |
|---|
| 2542 | | - | morethan25milesfromtheboundarylineofthisStateandmayoperatethose |
|---|
| 2543 | | - | extensionswithoutqualifyingasaforeigncorporationtodobusinessinthis |
|---|
| 2544 | | - | State.Beforeconstructingoroperatingsuchextensions,byaninstrument |
|---|
| 2545 | | - | executedandacknowledgedonitsbehalfbyitspresidentorvicepresident, |
|---|
| 2546 | | - | underitssealattestedbyitsclerkorsecretary,andfiledwiththeSecretaryof |
|---|
| 2547 | | - | State,acorporationshalldesignatetheSecretaryofStateitsagenttoaccept |
|---|
| 2548 | | - | serviceofprocessonitsbehalf.Thereafter,thecorporationshallhaveallthe |
|---|
| 2549 | | - | rights,powers,privileges,andimmunitiesofacooperative.Serviceofprocess |
|---|
| 2550 | | - | shallbemadeupontheSecretaryofStateinaccordancewiththeprovisionsof |
|---|
| 2551 | | - | 12V.S.A.§§851and852andshallforwardonecopyofthesamebyregistered |
|---|
| 2552 | | - | mailtosuchcorporationattheaddressofitsprincipaloffice11V.S.A.§1656. |
|---|
| 2553 | | - | §3038.FEES |
|---|
| 2554 | | - | (a)ThereshallbepaidtotheSecretaryofStatefeesforfilingasfollows: |
|---|
| 2555 | | - | (1)Articlesofincorporation,$15.00; |
|---|
| 2556 | | - | (2)Articlesofamendment,$10.00; |
|---|
| 2557 | | - | (3)Articlesofconsolidationormerger,$15.00; |
|---|
| 2558 | | - | (4)Articlesofconversion,$10.00; |
|---|
| 2559 | | - | (5)Certificateofelectiontodissolve,$5.00; |
|---|
| 2560 | | - | (6)Articlesofdissolution,$5.00;and BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2561 | | - | 2025 Page119of227 |
|---|
| 2562 | | - | (7)Certificateofchangeofprincipaloffice,$5.00. |
|---|
| 2563 | | - | (b)Suchfeesshallincludetwocertifiedcopiesoftherespectiveinstruments |
|---|
| 2564 | | - | Apersonwhosubmitsadocumentforfilingpursuanttothischaptershallpay |
|---|
| 2565 | | - | totheSecretaryofStatetheamountspecifiedin11V.S.A.§1651. |
|---|
| 2566 | | - | ***BusinessOrganizationsStudy*** |
|---|
| 2567 | | - | Sec.27.BUSINESSSERVICESANDBUSINESSORGANIZATIONS; |
|---|
| 2568 | | - | STUDY |
|---|
| 2569 | | - | (a)Task.TheSecretaryofStateshallconductapublicengagementprocess |
|---|
| 2570 | | - | withinterestedpartnerstostudy,consider,andaddressthefollowingissues: |
|---|
| 2571 | | - | (1)technical,procedural,andsubstantiveissuesconcerningtheonline |
|---|
| 2572 | | - | businessfilingsystem; |
|---|
| 2573 | | - | (2)statutoryrevisionstoadoptprovisionsoftheUniformBusiness |
|---|
| 2574 | | - | OrganizationsCodeorotherprovisionstofurtherharmonizethelaws |
|---|
| 2575 | | - | governingbusinessorganizationsinthisState,includingprovisionsgoverning |
|---|
| 2576 | | - | commercialregisteredagentsandupdatestotheTitlesoftheVermontStatutes |
|---|
| 2577 | | - | Annotatedrelatedtobusinessorganizations; |
|---|
| 2578 | | - | (3)statutoryrevisionstothelawsgoverningtrademarksandpossible |
|---|
| 2579 | | - | expansiontoincludeservicemarks; |
|---|
| 2580 | | - | (4)statutoryrevisionstothedualframeworkgoverningpartnershipsin |
|---|
| 2581 | | - | 11V.S.A.chapters15and22andthemandatoryregistrationofassumed |
|---|
| 2582 | | - | businessnamesandunincorporatednonprofitassociations; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2583 | | - | 2025 Page120of227 |
|---|
| 2584 | | - | (5)assessmentoftheneedforanyupdatestocurrentmodellawsorthe |
|---|
| 2585 | | - | additionofnewmodellegislation;and |
|---|
| 2586 | | - | (6)assessmentoftheadministrativeoversightauthorityandsubstantive |
|---|
| 2587 | | - | provisionsgoverningdatabrokers,telemarketers,utilitycooperatives,and |
|---|
| 2588 | | - | amusementrideoperators. |
|---|
| 2589 | | - | (b)Reporting.TheSecretaryofStateshall,basedonthetasksetforthin |
|---|
| 2590 | | - | subsection(a)ofthissection,submittotheHouseCommitteeonCommerce |
|---|
| 2591 | | - | andEconomicDevelopmentandtotheSenateCommitteeonEconomic |
|---|
| 2592 | | - | Development,HousingandGeneralAffairs,aninterimreportonorbefore |
|---|
| 2593 | | - | November15,2025andafinalreportonorbeforeDecember1,2026 |
|---|
| 2594 | | - | includingitsfindingsandanyproposedlegislationfortheGeneralAssembly’s |
|---|
| 2595 | | - | consideration.TheinterimreportshallprovidetheGeneralAssemblywithany |
|---|
| 2596 | | - | recommendedactionstopursueinthe2026legislativesession. |
|---|
| 2597 | | - | ***EffectiveDate*** |
|---|
| 2598 | | - | Sec.28.EFFECTIVEDATE |
|---|
| 2599 | | - | ThisactshalltakeeffectonJuly1,2025. |
|---|
| 2600 | | - | ***UpdatestoTitle3language*** |
|---|
| 2601 | | - | Sec.1.3V.S.A.§ 102aisamendedtoread: |
|---|
| 2602 | | - | § 102a.FACSIMILESIGNATUREOFSECRETARYOFSTATE |
|---|
| 2603 | | - | AfacsimileofthesignatureoftheSecretaryofStateimprintedbyorathis |
|---|
| 2604 | | - | orhertheSecretary’sdirectionuponanycertificationissuedunderTitle11or BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2605 | | - | 2025 Page121of227 |
|---|
| 2606 | | - | 11Apursuanttolaw,uponanyattestationrequiredoftheSecretarybylaw,or |
|---|
| 2607 | | - | uponanycertificationofofficialdocumentsorrecordsofwhichtheSecretary |
|---|
| 2608 | | - | iscustodian,shallhavethesamevalidityastheSecretaryofState’swritten |
|---|
| 2609 | | - | signature. |
|---|
| 2610 | | - | Sec.2.3V.S.A.§ 133isamendedtoread: |
|---|
| 2611 | | - | § 133.BUSINESSREGISTRATION |
|---|
| 2612 | | - | Whenprofessionalservicesarerequiredbylawtobeperformedinorbya |
|---|
| 2613 | | - | businessentityregisteredwiththeOffice,thebusinessentityshall: |
|---|
| 2614 | | - | (1)registerwiththeCorporationsBusinessServicesDivisionofthe |
|---|
| 2615 | | - | OfficeoftheSecretaryofState,ifrequiredbylaw;and |
|---|
| 2616 | | - | *** |
|---|
| 2617 | | - | ***UpdatestoTitle11language*** |
|---|
| 2618 | | - | Sec.3.11V.S.A.chapter7isamendedtoread: |
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| 2619 | | - | CHAPTER7.COOPERATIVESGENERALCOOPERATIVE |
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| 2620 | | - | CORPORATIONSANDCOOPERATIVEASSOCIATIONS |
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| 2621 | | - | Subchapter1.ProvisionsRelatingtoCooperativesFormedUnderGeneral |
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| 2622 | | - | CorporationLawGeneralCooperativeCorporations |
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| 2623 | | - | §981.GENERALCOOPERATIVECORPORATION;USEOF |
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| 2624 | | - | “COOPERATIVE” |
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| 2625 | | - | AcorporationformedunderTitle11Ashallnothavetheword |
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| 2626 | | - | “cooperative”oranyabbreviationthereofaspartofitsname,unlessthe BILLASPASSEDBYTHEHOUSE H.243 |
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| 2627 | | - | 2025 Page122of227 |
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| 2628 | | - | corporationisaworkercooperativecorporationorganizedunderchapter8of |
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| 2629 | | - | thistitle,acooperativehousingcorporationorganizedunderchapter14ofthis |
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| 2630 | | - | title,ortheageneralcooperativecorporationthatincludesinitsarticlesof |
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| 2631 | | - | incorporationcontainallofthefollowingprovisions: |
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| 2632 | | - | *** |
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| 2633 | | - | Subchapter2.TheCooperativeMarketingAct;CooperativeAssociations |
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| 2634 | | - | §991.DEFINITIONS |
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| 2635 | | - | InAsusedinthissubchapter,unlessthecontextorsubjectmatterotherwise |
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| 2636 | | - | requires: |
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| 2637 | | - | (1)“Agriculturalproducts”includeshorticultural,viticultural,forestry, |
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| 2638 | | - | dairy,livestock,poultry,bee,andanyfarmproducts. |
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| 2639 | | - | (2)“Association”meansanycorporationnonprofitcooperative |
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| 2640 | | - | associationorganizedunderthischapter. |
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| 2641 | | - | (3)“Associations”organizedhereundermeansnonprofitcooperative |
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| 2642 | | - | associations. |
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| 2643 | | - | (4)“Consumers’cooperative”meansacorporationanassociation |
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| 2644 | | - | organizedunderthischapterfortheacquisitionanddistributionforthebenefit |
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| 2645 | | - | ofultimateconsumersofproperty,goods,commodities,orservices. |
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| 2646 | | - | (5)“Handcraftproduct”meansanyproductfashionedprimarilyby |
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| 2647 | | - | handwiththefinalformanditscharacteristicsshapedbyhandandproduced BILLASPASSEDBYTHEHOUSE H.243 |
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| 2648 | | - | 2025 Page123of227 |
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| 2649 | | - | inthehomeorasmallcraftcenterbytheartisanorcraftsmaninaskilledor |
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| 2650 | | - | artisticprocessratherthaninanassemblylinetechnique. |
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| 2651 | | - | (6)“Marketingcooperative”meansacorporationanassociation |
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| 2652 | | - | organizedunderthischapterforthemarketingofagriculturalorhandcraft |
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| 2653 | | - | products. |
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| 2654 | | - | (7)“Member”includesactualmembersofassociationswithoutcapital |
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| 2655 | | - | stockandholdersofcommonstockinassociationsorganizedwithcapital |
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| 2656 | | - | stock. |
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| 2657 | | - | (8)“Person”includesindividuals,firms,partnerships,corporations |
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| 2658 | | - | andassociations. |
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| 2659 | | - | (9)“Railroadcooperative”meansanycorporationassociation |
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| 2660 | | - | organizedunderthischapterfortheorganization,acquisition,andoperation |
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| 2661 | | - | ofageneraltransportationbusinessbyrailroad,includingtruck,bus,air,and |
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| 2662 | | - | watertransportationsubsidiariesoftherailroad. |
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| 2663 | | - | *** |
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| 2664 | | - | §994.POWERS |
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| 2665 | | - | Eachassociationincorporatedunderthissubchaptershallhavethe |
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| 2666 | | - | followingpowers: |
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| 2667 | | - | (1)Inthecaseofamarketingcooperative,thepowertoengageinany |
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| 2668 | | - | activityinconnectionwiththepurchasing,marketing,selling,preserving, |
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| 2669 | | - | harvesting,drying,processing,manufacturing,canning,packing,grading, BILLASPASSEDBYTHEHOUSE H.243 |
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| 2670 | | - | 2025 Page124of227 |
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| 2671 | | - | storing,handling,orutilizationofanyagriculturalorhandcraftproductsor |
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| 2672 | | - | themanufacturingormarketingoftheby-productsbyproductsthereof,any |
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| 2673 | | - | activityinconnectionwiththepurchase,hiring,orusebyitsmembersof |
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| 2674 | | - | supplies,machineryorequipment,andinfinancinganyoftheaforementioned |
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| 2675 | | - | activities.However,amarketingassociationshallnothandleagriculturalor |
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| 2676 | | - | handcraftproductsofnonmemberstoanextentgreaterinvaluethanthe |
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| 2677 | | - | productsofitsownmemberswhichthatithandles.Inthecaseofa |
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| 2678 | | - | consumers’cooperative,thepowertoengageinanyoneormorelawfulmode |
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| 2679 | | - | ormodesofacquiring,producing,building,operating,manufacturing, |
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| 2680 | | - | furnishing,exchanging,ordistributinganytypeofproperty,commodities, |
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| 2681 | | - | goods,orservicesfortheprimaryandmutualbenefitofthepatronsofthe |
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| 2682 | | - | association,ortheirpatrons,ifany,asultimateconsumers.Inthecaseofa |
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| 2683 | | - | railroadcooperative,toengageinanyactivityinconnectionwiththe |
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| 2684 | | - | organization,acquisition,andoperationofasubsidiarytransportation |
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| 2685 | | - | business,whetherbymeansofrailroad,truck,watercarrier,air,orother. |
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| 2686 | | - | Suchacorporationformedunderthissubchaptershallhaveanyotherrights, |
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| 2687 | | - | powers,andprivilegesgrantedbythelawsofthisStatetocorporationsina |
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| 2688 | | - | likebusinessorganizedunderthegenerallawsofthisState. |
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| 2689 | | - | *** |
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| 2690 | | - | §995.ARTICLES BILLASPASSEDBYTHEHOUSE H.243 |
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| 2691 | | - | 2025 Page125of227 |
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| 2692 | | - | Eachassociationformedunderthissubchaptershallprepareandfile |
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| 2693 | | - | articlesofincorporationsettingforth: |
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| 2694 | | - | (1)Thenameoftheassociation. |
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| 2695 | | - | (2)Thepurposeforwhichitisformed. |
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| 2696 | | - | (3)Theplacewhereitsprincipalbusinesswillbetransactedaddressof |
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| 2697 | | - | itsprincipalofficeinthisState,andthename,email,andaddressinformation |
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| 2698 | | - | ofanagentforserviceofprocesspursuanttosection1655ofthistitle. |
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| 2699 | | - | (4)Thenamesandbusinessaddressesofthedirectorsthereofwhoareto |
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| 2700 | | - | serveuntiltheelectionandqualificationoftheirsuccessors. |
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| 2701 | | - | (5)Thenameandresidencebusinessaddressoftheclerk,andofany |
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| 2702 | | - | otherprincipaltheassociationprovides. |
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| 2703 | | - | (6)Whenorganizedwithoutcapitalstock,whetherthepropertyrights |
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| 2704 | | - | andinterestofthemembersareequal,and,ifunequal,thegeneralrules |
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| 2705 | | - | applicabletoallmembersbywhichthepropertyrightsandinterest, |
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| 2706 | | - | respectively,ofeachmembershallbedeterminedandfixed,andprovisionfor |
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| 2707 | | - | theadmissionofnewmemberswhoshallbeentitledtoshareinthepropertyof |
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| 2708 | | - | theassociationinaccordancewithsuchgeneralrules.Thisprovisionor |
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| 2709 | | - | paragraphofthecertificateoforganizationarticlesofincorporationshallnot |
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| 2710 | | - | bealtered,amended,orreplacedexceptbythewrittenconsentorvote |
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| 2711 | | - | representingthree-fourthsofthemembers. BILLASPASSEDBYTHEHOUSE H.243 |
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| 2712 | | - | 2025 Page126of227 |
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| 2713 | | - | (7)Whenorganizedwithcapitalstock,theamountofsuchstock,the |
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| 2714 | | - | numberofsharesintowhichitisdivided,andtheparvaluethereof. |
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| 2715 | | - | (8)Thecapitalstockmaybedividedintopreferredandoneormore |
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| 2716 | | - | classesofcommonstock.Whensodivided,thecertificateoforganization |
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| 2717 | | - | articlesofincorporationshallcontainastatementofthenumberofsharesof |
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| 2718 | | - | stocktowhichpreferenceisgranted,thenumberofsharesofstocktowhichno |
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| 2719 | | - | preferenceisgranted,andthenatureanddefiniteextentofthepreferenceand |
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| 2720 | | - | privilegesgrantedtoeach. |
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| 2721 | | - | (9)Thearticlesofincorporationofanyassociationorganizedunderthis |
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| 2722 | | - | subchaptermayprovidethatthemembersorstockholdersthereofshallhave |
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| 2723 | | - | therighttovoteinpersonorthroughanothermethodofcommunication, |
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| 2724 | | - | includingthroughatelecommunicationsorelectronicmedium,butamember |
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| 2725 | | - | orstockholdermaynotvotebyproxy.Thisprovisionorparagraphofthe |
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| 2726 | | - | articlesofincorporationshallnotbealteredandshallnotbesubjectto |
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| 2727 | | - | amendment. |
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| 2728 | | - | (10)Inadditiontotheforegoing,thearticlesofincorporationofany |
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| 2729 | | - | associationincorporatedhereundermaycontainanyprovisionconsistentwith |
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| 2730 | | - | lawwithrespecttomanagement,regulation,government,financing, |
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| 2731 | | - | indebtedness,membership,theestablishmentofvotingdistrictsandthe |
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| 2732 | | - | electionofdelegatesforrepresentativepurposes,theissuance,retirement,and |
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| 2733 | | - | transferofitsstock,ifformedwithcapitalstock,oranyprovisionsrelativeto BILLASPASSEDBYTHEHOUSE H.243 |
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| 2734 | | - | 2025 Page127of227 |
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| 2735 | | - | thewayormannerinwhichitshalloperateorwithrespecttoitsmembers, |
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| 2736 | | - | officers,ordirectorsandanyotherprovisionsrelatingtoitsaffairs. |
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| 2737 | | - | (11)Thecertificatearticlesofincorporationshallbesubscribedbythe |
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| 2738 | | - | incorporatorsandshallbesworntobyoneormoreofthem;andshallbefiled |
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| 2739 | | - | withtheSecretaryofState.Acertifiedcopyshallalsobefiledwiththe |
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| 2740 | | - | SecretaryofAgriculture,FoodandMarkets. |
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| 2741 | | - | (12)Whensofiled,thecertificateoforganizationarticlesof |
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| 2742 | | - | incorporationoracertifiedcopythereofshallbereceivedinthecourtsofthis |
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| 2743 | | - | Stateasprimafacieevidenceofthefactscontainedthereinandofthedue |
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| 2744 | | - | incorporationofsuchassociation. |
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| 2745 | | - | §996.AMENDMENTOFCERTIFICATEARTICLES;STATEMENTOF |
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| 2746 | | - | CHANGE |
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| 2747 | | - | (a)Thecertificateoforganizationarticlesofincorporationmaybealtered |
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| 2748 | | - | oramendedexceptasotherwiseprovidedinthissubchapteratanyregular |
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| 2749 | | - | meetingoranyspecialmeetingcalledforthatpurpose.Anamendmentmust |
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| 2750 | | - | firstbeapprovedbytwo-thirdsofthedirectorsandadoptedbyavoteoftwo- |
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| 2751 | | - | thirdsofthemembersordelegatespresentandvotingatsuchmeeting. |
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| 2752 | | - | Amendmentstothecertificateoforganizationarticlesofincorporation,when |
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| 2753 | | - | soadopted,shallbefiledinaccordancewiththeprovisionsofsection995of |
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| 2754 | | - | thistitle. BILLASPASSEDBYTHEHOUSE H.243 |
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| 2755 | | - | 2025 Page128of227 |
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| 2756 | | - | (b)Notwithstandingsubsection(a)ofthissection,anassociationshall |
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| 2757 | | - | amendthename,email,oraddressinformationofitsagentforserviceof |
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| 2758 | | - | processbysubmittingtotheSecretaryofStateforfilingastatementofchange |
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| 2759 | | - | pursuanttosection1655ofthistitle. |
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| 2760 | | - | §997.FEE |
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| 2761 | | - | Forfilingacertificateoforganizationarticlesofincorporation,an |
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| 2762 | | - | associationshallpay$20.00totheSecretaryofState,andforfilingan |
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| 2763 | | - | amendmentthereto,$10.00. |
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| 2764 | | - | *** |
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| 2765 | | - | §1001.CONTENTSOFBYLAWS |
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| 2766 | | - | Eachassociationmayprovideinitsbylawsforanyorallofthefollowing |
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| 2767 | | - | matters: |
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| 2768 | | - | *** |
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| 2769 | | - | (10)Inthecaseofaconsumer’sconsumers’orrailroadcooperative,the |
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| 2770 | | - | methodofdistributingamongmembersorstockholdersandpatrons,both |
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| 2771 | | - | membersandnonmembers,thenetsavingsderivedfromtheexcessoftotal |
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| 2772 | | - | incomeoveroperatingexpenses.Provisionmaybemadefortheaccumulation |
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| 2773 | | - | ofreservefundsoutofnetsavings. |
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| 2774 | | - | *** |
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| 2775 | | - | §1013.OFFICERS BILLASPASSEDBYTHEHOUSE H.243 |
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| 2776 | | - | 2025 Page129of227 |
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| 2777 | | - | Thedirectorsshallelectfromtheirnumberapresidentandoneormorevice |
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| 2778 | | - | presidents.Theyshallalsoelectasecretary,whoshallbetheclerkofthe |
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| 2779 | | - | corporationassociation,andatreasurer,whoneednotbedirectorsor |
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| 2780 | | - | membersoftheassociation.Thedirectorsmaycombinethetwolatteroffices |
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| 2781 | | - | anddesignatethecombinedofficeasthatofsecretary-treasurer,oruniteboth |
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| 2782 | | - | functionsandtitlesinoneperson.Thetreasurermaybeabankorany |
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| 2783 | | - | depository,andassuch,shallnotbeconsideredasanofficer,butasafunction |
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| 2784 | | - | oftheboardofdirectors,andinsuchcase,thesecretaryshallperformthe |
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| 2785 | | - | usualaccountingdutiesofthetreasurer,exceptthatthefundsshallbe |
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| 2786 | | - | depositedonlyasandwhereauthorizedbytheboardofdirectors. |
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| 2787 | | - | *** |
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| 2788 | | - | §1023.OWNERSHIPORCONTROLOFOTHERCORPORATIONS |
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| 2789 | | - | BUSINESSORGANIZATIONS |
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| 2790 | | - | Anassociationmayorganize,form,operate,own,control,haveaninterest |
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| 2791 | | - | in,ownstockof,orbeamemberof,anyothercorporationorcorporations, |
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| 2792 | | - | withorwithoutcapitalstock,andbusinessorganizationengagedin |
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| 2793 | | - | preserving,drying,processing,canning,packing,storing,handling,shipping, |
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| 2794 | | - | utilizing,manufacturing,marketing,orsellingtheagriculturalproducts |
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| 2795 | | - | handledbytheassociationorbyproductsthereof. |
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| 2796 | | - | §1024.WAREHOUSERECEIPTS BILLASPASSEDBYTHEHOUSE H.243 |
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| 2797 | | - | 2025 Page130of227 |
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| 2798 | | - | Whensuchcorporationsarewarehousingcorporations,theyAnassociation |
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| 2799 | | - | engagedinwarehousingmayissuenegotiableornonnegotiablewarehouse |
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| 2800 | | - | receiptsoftheassociationagainstthecommoditiesdelivered,andsuch |
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| 2801 | | - | warehousereceiptsshallbeconsideredasadequatecollateraltotheextentof |
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| 2802 | | - | theusualandcurrentvalueofthecommodityrepresentedthereby.Incase |
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| 2803 | | - | suchwarehouseislicensed,orlicensedandbonded,underthelawsofthisor |
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| 2804 | | - | anyotherstateoftheUnitedStates,itswarehousereceiptdeliveredtothe |
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| 2805 | | - | associationoncommoditiesoftheassociationoritsmembers,ordeliveredby |
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| 2806 | | - | theassociationorbyitsmembers,shallnotbechallengedordiscriminated |
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| 2807 | | - | againstbecauseofownershiporcontrol,whollyorinpart,bytheassociation. |
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| 2808 | | - | *** |
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| 2809 | | - | Subchapter3.ConsolidationofCooperativeAssociations |
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| 2810 | | - | §1061.PROCEDURE |
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| 2811 | | - | Twoormorecooperativeassociationsorganizedunder,orwhichhave |
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| 2812 | | - | adoptedtheprovisionsofsubchapter12ofthischapter,orsimilarlawsof |
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| 2813 | | - | otherstates,whetherhavingornothavingcapitalstock,maymergeor |
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| 2814 | | - | consolidateintoonecooperativeassociationwhichmaybeanewcooperative |
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| 2815 | | - | associationoroneoftheconstituentcooperativesbycomplyingwiththe |
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| 2816 | | - | followingrequirements: |
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| 2817 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
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| 2818 | | - | 2025 Page131of227 |
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| 2819 | | - | (3)Ifthearticlesofmergerorconsolidationareadoptedbythe |
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| 2820 | | - | affirmativevoteofnotlessthantwo-thirdsofthemembersattendingand |
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| 2821 | | - | votingofeachconsolidatingcooperativevotingthereonatthemeetingcalled |
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| 2822 | | - | toconsiderthesame,orbynotlessthanbyatwo-thirdsvoteofitsdelegatesif |
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| 2823 | | - | qualifiedasprovidedinsubdivision(4)ofthissection,articlesofmergeror |
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| 2824 | | - | consolidationintheformadoptedshallbeexecutedunderitssealand |
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| 2825 | | - | acknowledgedonbehalfofeachconsolidatingcooperativebyitspresidentor |
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| 2826 | | - | vice-president.Sucharticlesofmergerorconsolidationshallrecitethatthey |
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| 2827 | | - | areexecutedpursuanttothissubchapterandshallstate: |
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| 2828 | | - | (A)thenameofeachconsolidatingcooperativeandtheaddressofits |
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| 2829 | | - | principaloffice; |
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| 2830 | | - | (B)thenameofthenewcooperativeandtheaddressofitsprincipal |
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| 2831 | | - | officeinthisState,orifnone,thename,email,andaddressofanagentfor |
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| 2832 | | - | serviceofprocesspursuanttosection1655ofthistitle; |
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| 2833 | | - | (C)astatementthateachconsolidatingcooperativeagreestothe |
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| 2834 | | - | mergerorconsolidation; |
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| 2835 | | - | (D)thenamesandbusinessaddressesofthedirectorsofthenew |
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| 2836 | | - | cooperative,andofanyotherprincipaltheassociationprovides;and |
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| 2837 | | - | (E)thetermsandconditionsofthemergerorconsolidationandthe |
|---|
| 2838 | | - | modeofcarryingthesameintoeffect,includingthemannerinwhichthe |
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| 2839 | | - | membersoftheconsolidatingcooperativemayorshallbecomemembersofthe BILLASPASSEDBYTHEHOUSE H.243 |
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| 2840 | | - | 2025 Page132of227 |
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| 2841 | | - | newcooperative;andmaycontainprovisions,notinconsistentwithlaworthis |
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| 2842 | | - | subchapter,whicharedeemednecessaryoradvisablefortheconductofthe |
|---|
| 2843 | | - | businessofthenewcooperative. |
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| 2844 | | - | (4)Thepresidentorvicepresidentandtheclerkorsecretaryofeach |
|---|
| 2845 | | - | consolidatingcooperativeexecutingsucharticlesofmergerorconsolidation |
|---|
| 2846 | | - | shallmakeandannextheretoanaffidavitstatingthattheprovisionsofthis |
|---|
| 2847 | | - | sectioninrespecttosucharticlesweredulycompliedwithbysuch |
|---|
| 2848 | | - | cooperative. |
|---|
| 2849 | | - | (4)(5)Inthecaseofanyconsolidatingcooperativehavingadistrict |
|---|
| 2850 | | - | electionofdelegatesandadelegatesystemofvotingaspermittedby |
|---|
| 2851 | | - | subdivision995(10)ofthistitle,inwhich,underitsarticlesofincorporationor |
|---|
| 2852 | | - | bylaws,suchdelegateshavecompletevotingpoweronbehalfofthe |
|---|
| 2853 | | - | membershipforeverypurpose,exceptthatoftheirownelectionandthe |
|---|
| 2854 | | - | electionofdistrictdirectors,thevoteadoptingthemergerorconsolidation |
|---|
| 2855 | | - | requiredbysubdivision(3)ofthissectionshallbethatofnotlessthantwo- |
|---|
| 2856 | | - | thirdsofthedelegatesattendingandvotingatsuchmeeting. |
|---|
| 2857 | | - | *** |
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| 2858 | | - | Sec.4.11V.S.A.chapter15isamendedtoread: |
|---|
| 2859 | | - | CHAPTER15.REGISTRATIONOFBUSINESSENTITIESASSUMED |
|---|
| 2860 | | - | BUSINESSNAMES,PARTNERSHIPS,ANDUNINCORPORATED BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2861 | | - | 2025 Page133of227 |
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| 2862 | | - | NONPROFITASSOCIATIONS;ADMINISTRATIVEAUTHORITY; |
|---|
| 2863 | | - | ADMINISTRATIVEPROVISIONS |
|---|
| 2864 | | - | Subchapter1.AssumedBusinessNames,Partnerships,andUnincorporated |
|---|
| 2865 | | - | NonprofitAssociations |
|---|
| 2866 | | - | §1621.REGISTRATIONOFASSUMEDBUSINESSNAMEBYPERSONS |
|---|
| 2867 | | - | NAMES,PARTNERSHIPS,ANDUNINCORPORATED |
|---|
| 2868 | | - | NONPROFITASSOCIATIONS |
|---|
| 2869 | | - | (a)ApersondoingbusinessinthisStateunderanynameotherthanhisor |
|---|
| 2870 | | - | herown,andeverycopartnershipAnindividualdoingbusinessunderan |
|---|
| 2871 | | - | assumedbusinessname,orapartnershiporunincorporatednonprofitor |
|---|
| 2872 | | - | associationofindividuals,exceptcorporationsandlimitedliabilitycompanies, |
|---|
| 2873 | | - | doingbusinessinthisState,residentornonresident,shallcausetoberecorded |
|---|
| 2874 | | - | withsubmittotheSecretaryofStateforfilingareturnsettingfortha |
|---|
| 2875 | | - | registrationthatprovides: |
|---|
| 2876 | | - | (1)thenameunderwhichsuchbusinessiscarriedon,thenameofthe |
|---|
| 2877 | | - | business; |
|---|
| 2878 | | - | (2)thenameofthetownwhereinsuchplaceofbusinessislocated,the |
|---|
| 2879 | | - | addressofitsprincipaloffice; |
|---|
| 2880 | | - | (3)abriefdescriptionofthekindofbusinesstobetransactedunder |
|---|
| 2881 | | - | suchname,anditsbusinesspurpose; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2882 | | - | 2025 Page134of227 |
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| 2883 | | - | (4)theindividualnamesandresidencesofallpersons,generalpartners, |
|---|
| 2884 | | - | ormemberssodoingbusinessthereunderthenameandbusinessaddressofthe |
|---|
| 2885 | | - | individualdoingbusinessundertheassumedname,asapartnerofthe |
|---|
| 2886 | | - | partnership,orasamemberoftheassociation,andofanyotherprincipalthe |
|---|
| 2887 | | - | registrantprovides;and |
|---|
| 2888 | | - | (5)foreachindividual,partner,ormemberwhoisnotaresidentofthis |
|---|
| 2889 | | - | State,orforwhomtheregistrantdoesnotprovideanaddressinthisStatefor |
|---|
| 2890 | | - | serviceofprocess,thename,email,andaddressinformationofanagentfor |
|---|
| 2891 | | - | serviceofprocesspursuanttosection1655ofthistitle. |
|---|
| 2892 | | - | (b)SuchreturnsAregistrationshallbesubscribedandsworntobyoneor |
|---|
| 2893 | | - | moreofthepersonssodoingbusiness,andshallbeapersonwithauthorityto |
|---|
| 2894 | | - | actonbehalfoftheregistrantandfiledwiththeSecretaryofStatewithinnot |
|---|
| 2895 | | - | laterthan10daysaftercommencementofbusiness. |
|---|
| 2896 | | - | (c)TheSecretaryofStateshalldeclinetoregisteranybusinessname |
|---|
| 2897 | | - | unlessthenameisdistinguishableintherecordsoftheSecretaryofStatefrom |
|---|
| 2898 | | - | anyotherbusinessnameofanynameregisteredorreservedunderthischapter, |
|---|
| 2899 | | - | orthenameofanyotherentity,whetherdomesticorforeign,thatisreserved, |
|---|
| 2900 | | - | registered,orgrantedbyorwiththeSecretaryofState,oranynamethat |
|---|
| 2901 | | - | wouldleadareasonablepersontoconcludethatthebusinessisatypeofentity |
|---|
| 2902 | | - | thatitisnot. BILLASPASSEDBYTHEHOUSE H.243 |
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| 2903 | | - | 2025 Page135of227 |
|---|
| 2904 | | - | (d)TheSecretaryofStateshallestablishrulesandregulationsforthe |
|---|
| 2905 | | - | administrationofthissection. |
|---|
| 2906 | | - | (e)Priortoregisteringitsbusinessnameunderthissection,aperson |
|---|
| 2907 | | - | intendingtooperateapostsecondaryschool,asdefinedin16V.S.A.§§176 |
|---|
| 2908 | | - | and176a,shallapplytotheStateBoardofEducationforacertificateof |
|---|
| 2909 | | - | approvalpursuanttothosesections. |
|---|
| 2910 | | - | §1621a.RESERVEDNAME |
|---|
| 2911 | | - | (a)Theexclusiverighttotheuseofabusinessnamemaybereservedby |
|---|
| 2912 | | - | anyperson,copartnership,orassociationintendingtoregisteritsnameunder |
|---|
| 2913 | | - | thissection. |
|---|
| 2914 | | - | (b)ThereservationshallbemadebyfilingwiththeSecretaryofStatean |
|---|
| 2915 | | - | applicationtoreserveaspecifiedbusinessname,executedbytheapplicant,its |
|---|
| 2916 | | - | agent,orattorney.IftheSecretaryofStatefindsthatthenameisavailablefor |
|---|
| 2917 | | - | use,heorsheshallreservethesamefortheexclusiveuseoftheapplicantfora |
|---|
| 2918 | | - | periodof120days. |
|---|
| 2919 | | - | (c)Therighttotheexclusiveuseofaspecifiedbusinessnamesoreserved |
|---|
| 2920 | | - | maybetransferredtoanyotherperson,copartnership,orassociationbyfiling |
|---|
| 2921 | | - | intheofficeoftheSecretaryofStateanoticeofsuchtransfer,executedbythe |
|---|
| 2922 | | - | applicantforwhomthenamewasreserved,andspecifyingthenameand |
|---|
| 2923 | | - | addressofthetransferee.[Repealed.] |
|---|
| 2924 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2925 | | - | 2025 Page136of227 |
|---|
| 2926 | | - | §1623.REGISTRATIONBYBUSINESSORGANIZATIONS |
|---|
| 2927 | | - | (a)AbusinessorganizationdoingbusinessinthisStateunderanyname |
|---|
| 2928 | | - | otherthanthatofthebusinessorganizationshallbesubjecttoallthe |
|---|
| 2929 | | - | provisionsofthischapter;andshallfilereturnssworntobysomeofficeror |
|---|
| 2930 | | - | directorofthecorporationormutualbenefitenterprise,orbysomedirectoror |
|---|
| 2931 | | - | managerofthelimitedliabilitycompany,orbysomepartnerofthe |
|---|
| 2932 | | - | partnershiporlimitedpartnership,settingforth: |
|---|
| 2933 | | - | (1)thenameandlocationoftheprincipalofficeofthebusiness |
|---|
| 2934 | | - | organization; |
|---|
| 2935 | | - | (2)thenameunderwhichtheorganizationwillconductbusiness; |
|---|
| 2936 | | - | (3)thetownortownswheretheorganizationconductsbusinessunder |
|---|
| 2937 | | - | thename;and |
|---|
| 2938 | | - | (4)abriefdescriptionofthekindofbusinesstheorganizationconducts |
|---|
| 2939 | | - | underthename. |
|---|
| 2940 | | - | (b)TheSecretaryofStateshalldeclinetoregisteranybusinessnameunless |
|---|
| 2941 | | - | thenameisdistinguishableintherecordsoftheSecretaryofStatefromany |
|---|
| 2942 | | - | otherbusinessnameofanynameregisteredorreservedunderthischapteror |
|---|
| 2943 | | - | thenameofanyotherentity,whetherdomesticorforeign,thatisreserved, |
|---|
| 2944 | | - | registered,orgrantedbyorwiththeSecretaryofState,oranynamethat |
|---|
| 2945 | | - | wouldleadareasonablepersontoconcludethatthebusinessisatypeofentity |
|---|
| 2946 | | - | thatitisnot.[Repealed.] BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2947 | | - | 2025 Page137of227 |
|---|
| 2948 | | - | §1624.FORMS |
|---|
| 2949 | | - | TheSecretaryofStateshallformulateformsforthereturnsandshall,on |
|---|
| 2950 | | - | request,furnishsuchformsbymailorotherwisetopersons,copartnerships, |
|---|
| 2951 | | - | associations,orcorporationssubjecttotheprovisionsofthischapter. |
|---|
| 2952 | | - | [Repealed.] |
|---|
| 2953 | | - | §1625.FEES |
|---|
| 2954 | | - | (a)Aperson,copartnership,association,limitedliabilitycompany,or |
|---|
| 2955 | | - | corporationrequiredbytheprovisionsofthischaptersubchaptertofilea |
|---|
| 2956 | | - | returnshall,atthetimeoffilingasprovided,payaregistrationfeeof$70.00 |
|---|
| 2957 | | - | totheSecretaryofState. |
|---|
| 2958 | | - | (b)Aperson,copartnership,association,limitedliabilitycompany,or |
|---|
| 2959 | | - | corporationrequiredbytheprovisionsofthischaptersubchaptertofilean |
|---|
| 2960 | | - | amendment,acertificateofcessationofbusiness,orchangeofbusinessstatus |
|---|
| 2961 | | - | oranapplicationtoreserveabusinessnameshall,atthetimeoffiling,paya |
|---|
| 2962 | | - | feeof$35.00totheSecretaryofState. |
|---|
| 2963 | | - | (c)Statementofchangeofdesignatedagentordesignatedoffice,orboth, |
|---|
| 2964 | | - | forapersonregisteredunderthissubchapter:$25.00,nottoexceed$1,000.00 |
|---|
| 2965 | | - | perfilerpercalendaryear. |
|---|
| 2966 | | - | (d)TheSecretaryshallcollect$25.00eachtimeprocessisservedonthe |
|---|
| 2967 | | - | Secretaryonbehalfofapersonregisteredunderthischaptersubchapter.The BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2968 | | - | 2025 Page138of227 |
|---|
| 2969 | | - | partytoaproceedingcausingserviceofprocessisentitledtorecoverthisfee |
|---|
| 2970 | | - | ascostsifheorsheprevailsintheproceeding. |
|---|
| 2971 | | - | §1626.FAILURETOREGISTER;ENFORCINGCOMPLIANCE |
|---|
| 2972 | | - | (a)ApersontransactingbusinessinthisStatewhoisnotregisteredwith |
|---|
| 2973 | | - | theSecretaryofStateasrequiredunderthischaptersubchapterandany |
|---|
| 2974 | | - | successortothepersonorassigneeofacauseofactionarisingoutofthe |
|---|
| 2975 | | - | businessoftheperson,maynotmaintainanactionorproceedingorraisea |
|---|
| 2976 | | - | counterclaim,crossclaim,oraffirmativedefenseinthisStateuntiltheperson, |
|---|
| 2977 | | - | successor,orassigneeregisterswiththeSecretary. |
|---|
| 2978 | | - | (b)Thefailureofapersontoregisterasrequiredunderthischapter |
|---|
| 2979 | | - | subchapterdoesnotimpairthevalidityofacontractoractofthepersonor |
|---|
| 2980 | | - | precludeitfromdefendinganactionorproceedinginthisState. |
|---|
| 2981 | | - | (c)Anindividualdoesnotwaivealimitationonhisorherpersonal |
|---|
| 2982 | | - | liabilityaffordedbyotherlawsolelybytransactingbusinessinthisState |
|---|
| 2983 | | - | withoutregisteringwiththeSecretaryofStateasrequiredunderthischapter |
|---|
| 2984 | | - | subchapter. |
|---|
| 2985 | | - | (d)IfapersontransactsbusinessinthisStatewithoutregisteringwiththe |
|---|
| 2986 | | - | SecretaryofStateasrequiredunderthischaptersubchapter,theSecretaryis |
|---|
| 2987 | | - | itsagentforserviceofprocesswithrespecttoarightofactionarisingoutof |
|---|
| 2988 | | - | thetransactionofbusinessinthisState. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 2989 | | - | 2025 Page139of227 |
|---|
| 2990 | | - | (e)ApersonthattransactsbusinessinthisStatewithoutregisteringwith |
|---|
| 2991 | | - | theSecretaryofStateasrequiredunderthischaptersubchaptershallbeliable |
|---|
| 2992 | | - | totheStatefor: |
|---|
| 2993 | | - | (1)acivilpenaltyof$50.00foreachday,nottoexceedatotalof |
|---|
| 2994 | | - | $10,000.00foreachyear,ittransactsbusinessinthisStatewithouta |
|---|
| 2995 | | - | registration; |
|---|
| 2996 | | - | (2)anamountequaltothefeesdueunderthischaptersubchapter |
|---|
| 2997 | | - | duringtheperiodittransactedbusinessinthisStatewithoutaregistration; |
|---|
| 2998 | | - | and |
|---|
| 2999 | | - | (3)otherpenaltiesimposedbylaw. |
|---|
| 3000 | | - | (f)TheAttorneyGeneralmaymaintainanactionintheCivilDivisionof |
|---|
| 3001 | | - | theSuperiorCourttocollectthepenaltiesimposedinsubsection(e)ofthis |
|---|
| 3002 | | - | sectionandtorestrainapersonfromtransactingbusinessinthisStatein |
|---|
| 3003 | | - | violationofthischaptersubchapter. |
|---|
| 3004 | | - | §1627.SERVICEOFPROCESS |
|---|
| 3005 | | - | Serviceofsuchcomplaintandprocessthereundermaybemadeby |
|---|
| 3006 | | - | deliveringwithinthisStateatrueandattestedcopythereoftoanypersonso |
|---|
| 3007 | | - | doingbusinessoranyservantoragentofsuchperson,copartnership, |
|---|
| 3008 | | - | association,limitedliabilitycompany,orcorporation,orinanymanner |
|---|
| 3009 | | - | otherwiseprovidedbylaw.Anamesoregisteredshallnotthereafterbeused |
|---|
| 3010 | | - | byaperson,copartnership,association,limitedliabilitycompany,or BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3011 | | - | 2025 Page140of227 |
|---|
| 3012 | | - | corporation,unlessitislawfullyentitledtheretoatthedateofsuch |
|---|
| 3013 | | - | registration.[Repealed.] |
|---|
| 3014 | | - | §1628.CERTIFICATEOFCESSATIONOFBUSINESSORCHANGEOF |
|---|
| 3015 | | - | BUSINESSSTATUS;AMENDMENT |
|---|
| 3016 | | - | (a)Whenaperson,copartnership,association,limitedliabilitycompany, |
|---|
| 3017 | | - | orcorporationsubjecttotheprovisionsofthischaptershallceasetodo |
|---|
| 3018 | | - | businessinthisState,acertificatesettingforthsuchfactandthedatewhereon |
|---|
| 3019 | | - | itsoceasedshallbefiledwiththeSecretaryofStatewithin10daysafterthe |
|---|
| 3020 | | - | datesuchbusinessceases.Suchcertificatemaybesworntoandfiledbya |
|---|
| 3021 | | - | survivingpartner,memberofsuchassociation,officerofsuchcorporation, |
|---|
| 3022 | | - | memberormanagerofsuchlimitedliabilitycompany,orpersonsodoing |
|---|
| 3023 | | - | business,orhisorherexecutororadministratorAregistrantthatceasestodo |
|---|
| 3024 | | - | businessinthisStateshallsubmittotheSecretaryofStateforfilinga |
|---|
| 3025 | | - | certificateofcessationofbusinessnotlaterthan10daysafterthedateof |
|---|
| 3026 | | - | cessation. |
|---|
| 3027 | | - | (b)Wheneveranygeneralpartnerofsuchpartnership,ormemberofsuch |
|---|
| 3028 | | - | associationwithdrawsfromthebusiness,aremaininggeneralpartneror |
|---|
| 3029 | | - | membershallwithin30daysfileacertificatewiththeSecretaryofStatesigned |
|---|
| 3030 | | - | andswornbyaremaininggeneralpartnerormember,settingforththefactof |
|---|
| 3031 | | - | suchwithdrawal,togetherwiththedateofthatwithdrawal.Filingofthis |
|---|
| 3032 | | - | certificateshallavoidanyinterruptionintheperiodofregistrationremaining BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3033 | | - | 2025 Page141of227 |
|---|
| 3034 | | - | beforetheneedforrenewal,asifnopartnerormemberoftheassociationhad |
|---|
| 3035 | | - | withdrawnAregistrantthataddsorremovesanindividual,partner,ormember |
|---|
| 3036 | | - | namedinitsregistrationshallsubmittotheSecretaryofStateforfilingan |
|---|
| 3037 | | - | amendmenttoreflectthechangenotlaterthan30daysafterthedateofthe |
|---|
| 3038 | | - | change. |
|---|
| 3039 | | - | (c)Aregistrantmayamenditsagentinformationbyfilingastatementof |
|---|
| 3040 | | - | changepursuanttosection1655ofthistitleandmayamendanyother |
|---|
| 3041 | | - | informationinitsregistrationbysubmittinganamendmenttotheSecretaryof |
|---|
| 3042 | | - | Stateforfiling. |
|---|
| 3043 | | - | §1629.PENALTIES |
|---|
| 3044 | | - | Failuretofilesuchcertificateatthetimesorequiredbysection1628ofthis |
|---|
| 3045 | | - | titleshallworkaforfeitureof$10.00toberecoveredbytheSecretaryofState |
|---|
| 3046 | | - | inacivilactiononthisstatute,inhisorhername,againstanysurviving |
|---|
| 3047 | | - | partner,anymemberofsuchassociation,anyofficerofsuchcorporation,or |
|---|
| 3048 | | - | anypersonsodoingbusiness,orhisexecutororadministrator,andthesame |
|---|
| 3049 | | - | shallbepaidintotheTreasuryoftheState.[Repealed.] |
|---|
| 3050 | | - | §1630.PROCESSAGENT |
|---|
| 3051 | | - | EachnonresidentdoingbusinessinthisStateinhisorherindividual |
|---|
| 3052 | | - | capacity,orascopartnerormemberofacopartnershiporassociation |
|---|
| 3053 | | - | requiredbysections1621and1623ofthistitletofilethereturnstherein |
|---|
| 3054 | | - | specified,orunderanynameotherthanhisorherown,exceptasotherwise BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3055 | | - | 2025 Page142of227 |
|---|
| 3056 | | - | provided,shallappointinwritingapersonhavinganofficeorplaceof |
|---|
| 3057 | | - | businessandresidinginthetownwhereintheprincipalofficeofsuch |
|---|
| 3058 | | - | nonresident,copartnership,orassociationislocated,uponwhomprocess |
|---|
| 3059 | | - | againstsuchnonresidentmaybeservedinanactionfoundeduponaliability |
|---|
| 3060 | | - | incurredinthisState.Suchappointmentshallcontinueinforceuntilrevoked |
|---|
| 3061 | | - | byalikeinstrumentappointinganotherpersonthereinresiding,andhaving |
|---|
| 3062 | | - | thereinanofficeorplaceofbusiness.Suchinstrumentshallberecordedwith |
|---|
| 3063 | | - | theSecretaryofState.Intheeventanonresidenthasnotappointedaprocess |
|---|
| 3064 | | - | agent,andhasnotfiledsuchappointment,assetforthinthissection,the |
|---|
| 3065 | | - | SecretaryofStateshallbesuchprocessagent.[Repealed.] |
|---|
| 3066 | | - | §1631.VACANCY |
|---|
| 3067 | | - | WhenanappointeediesorremovesfromtheState,anotherpersonresiding |
|---|
| 3068 | | - | insuchtownandhavingthereinanofficeorplaceofbusiness,within10days |
|---|
| 3069 | | - | fromthedateofsuchdeathorremoval,shallbeappointedinthemanner |
|---|
| 3070 | | - | hereinbeforespecified,uponwhomserviceofprocessmaybemadeasprovided |
|---|
| 3071 | | - | insection1630ofthistitle.Incaseofsuchdeathorremoval,orifapersonis |
|---|
| 3072 | | - | notappointedasaforesaid,processagainstsuchnonresidentpersonmaybe |
|---|
| 3073 | | - | servedbydeliveringtotheSecretaryofStateduplicatecopiesthereof,oneof |
|---|
| 3074 | | - | whichshallbefiledwiththeSecretaryofStateandtheothershallbe |
|---|
| 3075 | | - | forwardedbymailprepaidbytheclerktothelastknownresidenceofsuch |
|---|
| 3076 | | - | person.[Repealed.] BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3077 | | - | 2025 Page143of227 |
|---|
| 3078 | | - | §1632.EXCEPTIONS |
|---|
| 3079 | | - | Theprovisionsofsections1630and1631ofthistitleshallnotapplyto |
|---|
| 3080 | | - | foreigninvestmentcompanies,foreignbuildingandloanassociations,or |
|---|
| 3081 | | - | foreigncreamerycompanies.[Repealed.] |
|---|
| 3082 | | - | §1633.SECRETARYOFSTATEASPROCESSAGENT |
|---|
| 3083 | | - | Aforeigninsurance,express,shippingcar,telegraph,ortelephone |
|---|
| 3084 | | - | company,oraforeigncompanyunderanyothernameengagedinlike |
|---|
| 3085 | | - | business,shallnotdobusinessinthisStateasanunincorporatedassociation |
|---|
| 3086 | | - | orpartnership,untilithasfiledwiththeSecretaryofStateawrittenstipulation |
|---|
| 3087 | | - | containingtheassociationorfirmname,andthenamesandresidencesofthe |
|---|
| 3088 | | - | associatesorpartners,andappointingtheSecretaryofStateasitsprocess |
|---|
| 3089 | | - | agent.Suchstipulationshallbeinformandsubstancelikethatspecifiedin |
|---|
| 3090 | | - | subdivision692(3)ofthistitle,andshallhavethesamelegaleffect.The |
|---|
| 3091 | | - | provisionsof12V.S.A.§§851-853,shallapplytoserviceofprocessonsuch |
|---|
| 3092 | | - | companyandtoactsdonebypersonsoragentsinitsbehalf.[Repealed.] |
|---|
| 3093 | | - | §1634.EFFECTOFFAILUREANDNEGLECT |
|---|
| 3094 | | - | Aperson,copartnership,limitedliabilitycompany,orcorporationsubject |
|---|
| 3095 | | - | tothischaptershallnotinstituteanyproceedingsinthisStateforthe |
|---|
| 3096 | | - | enforcementofanyrightorobligationunlessitshall,priortotheissuanceof |
|---|
| 3097 | | - | theoriginalreturnorcomplainttherein,havefiledthereturnsandpaidthe |
|---|
| 3098 | | - | registrationfeerequiredbythischapter;norshallalicenseorcertificatebe BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3099 | | - | 2025 Page144of227 |
|---|
| 3100 | | - | grantedtoanonresidentindividual,copartnership,orunincorporated |
|---|
| 3101 | | - | associationtotransactabusinessspecifiedinTitles5and23orin6V.S.A. |
|---|
| 3102 | | - | chapter29untilsuchindividual,copartnership,orassociationhascomplied |
|---|
| 3103 | | - | withtheprovisionsofsection1630ofthistitle.[Repealed.] |
|---|
| 3104 | | - | §1635.REREGISTRATION |
|---|
| 3105 | | - | (a)Oneormorepersonsdoingbusinessunderaregisteredbusinessname |
|---|
| 3106 | | - | Aregistrantshallreregisterthenameeveryfiveyearsbyfilingareregistration |
|---|
| 3107 | | - | returnwiththeSecretaryofStatewithafeeof$65.00withinnotsoonerthan |
|---|
| 3108 | | - | 60daysfollowingthedatefiveyearsafterthedatepriortotheexpirationof |
|---|
| 3109 | | - | theoriginalregistrationorofthelastreregistration.TheSecretaryofState |
|---|
| 3110 | | - | shallprepareandsupplythenecessaryforms. |
|---|
| 3111 | | - | (b)Whenreregistrationisnotaccomplishedasprovidedinsubsection(a) |
|---|
| 3112 | | - | ofthissection,abusinessnamemayberegisteredbythefirstapplicantmaking |
|---|
| 3113 | | - | applicationtotheSecretaryofStateforanoriginalregistrationasprovidedby |
|---|
| 3114 | | - | thischaptersubchapter. |
|---|
| 3115 | | - | Subchapter2.AdministrativeAuthority |
|---|
| 3116 | | - | §1636.TERMINATIONOFBUSINESSNAME;HEARING |
|---|
| 3117 | | - | (a)IftheSecretaryofStatedeclinestoregisterabusinessinaccordance |
|---|
| 3118 | | - | withtheprovisionsofsubsection1621(c)ofthistitlebecauseitisnot |
|---|
| 3119 | | - | distinguishableintherecordsoftheSecretaryfromanotherbusinessname,the |
|---|
| 3120 | | - | applicantmayrequestthattheSecretarydeterminewhetherthepersonto BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3121 | | - | 2025 Page145of227 |
|---|
| 3122 | | - | whomthebusinessnameisregisteredisdoingbusinessortakingstepstodo |
|---|
| 3123 | | - | businessinthisState. |
|---|
| 3124 | | - | *** |
|---|
| 3125 | | - | §1637.AUTHORITYTOTERMINATEANDAMENDREGISTRATION |
|---|
| 3126 | | - | (a)TheSecretaryofStateshallhavetheauthorityto: |
|---|
| 3127 | | - | (1)terminatetheregistrationofapersonwho,pursuanttoan |
|---|
| 3128 | | - | administrativeorder,afinalcourtorder,oranassuranceofdiscontinuance,is |
|---|
| 3129 | | - | notauthorizedtoconductbusinessinthisState;and |
|---|
| 3130 | | - | (2)amendhisorhertheperson’srecordstoreflecttheterminationofa |
|---|
| 3131 | | - | registrationpursuanttosubdivision(1)ofthissubsection. |
|---|
| 3132 | | - | (b)(1)IftheSecretaryofStateterminatestheregistrationofaperson |
|---|
| 3133 | | - | pursuanttothissection,thepersonappointstheSecretaryashisorherthe |
|---|
| 3134 | | - | person’sagentforserviceofprocessinanyproceedingbasedonacauseof |
|---|
| 3135 | | - | actionthataroseduringthetimethepersonwasauthorizedtotransact,orwas |
|---|
| 3136 | | - | transactingwithoutauthorization,businessinthisState. |
|---|
| 3137 | | - | (2)Uponreceiptofprocess,theSecretaryofStateshalldeliverby |
|---|
| 3138 | | - | registeredmailacopyoftheprocesstothesecretaryoftheterminatedperson |
|---|
| 3139 | | - | atitsprincipalofficeshowninitsmostrecentannualreportorinany |
|---|
| 3140 | | - | subsequentcommunicationreceivedfromthepersonstatingthecurrent |
|---|
| 3141 | | - | mailingaddressofitsprincipaloffice,or,ifnoneisonfile,initsapplication |
|---|
| 3142 | | - | forregistration. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3143 | | - | 2025 Page146of227 |
|---|
| 3144 | | - | (c)(1)Ifacourtorotherpersonwithsufficientlegalauthorityreinstates |
|---|
| 3145 | | - | theabilityofaterminatedpersontoconductbusinessinthisState,the |
|---|
| 3146 | | - | terminatedpersonmayfilewiththeSecretaryofStateevidenceofthe |
|---|
| 3147 | | - | reinstatedauthorityandpaytotheSecretaryafeeof$25.00foreachyearthe |
|---|
| 3148 | | - | personisdelinquent. |
|---|
| 3149 | | - | (2)Uponreceiptofafilingandpaymentpursuanttosubdivision(1)of |
|---|
| 3150 | | - | thissubsection,theSecretaryshallcanceltheterminationandpreparea |
|---|
| 3151 | | - | certificateofreinstatement,filetheoriginalofthecertificate,andserveacopy |
|---|
| 3152 | | - | ontheperson. |
|---|
| 3153 | | - | § 1638.AUTHORITYTOREJECT,AMEND,ORTERMINATE |
|---|
| 3154 | | - | (a)TheSecretaryofStateshallhavetheauthorityto: |
|---|
| 3155 | | - | (1)rejectarecordsubmittedforfilingthattheSecretaryreasonably |
|---|
| 3156 | | - | determinescontainsfalse,fraudulent,orclearlyerroneousinformation;and |
|---|
| 3157 | | - | (2)amendarecordorterminatetheregistrationofapersonwhothe |
|---|
| 3158 | | - | Secretarydetermines,afternoticeandopportunityforhearingpursuantto |
|---|
| 3159 | | - | 3 V.S.A.chapter25,hassubmittedfalseorfraudulentinformationinarecord, |
|---|
| 3160 | | - | orhasattemptedorsubmittedarecordforfilinginbadfaith,withoutlawful |
|---|
| 3161 | | - | authority,ortocommitfraudorcauseinjury. |
|---|
| 3162 | | - | (b)(1)IftheSecretaryterminatestheregistrationofapersonpursuantto |
|---|
| 3163 | | - | thissection,ortheSecretary’srejectionoramendmentofarecordresultsin |
|---|
| 3164 | | - | theperson’sfailuretodesignateormaintainanagentforserviceofprocess, BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3165 | | - | 2025 Page147of227 |
|---|
| 3166 | | - | thenthepersonappointstheSecretaryastheperson’sagentforserviceof |
|---|
| 3167 | | - | process. |
|---|
| 3168 | | - | (2)Uponreceiptofprocess,theSecretaryofStateshalldeliverby |
|---|
| 3169 | | - | registeredmailacopyoftheprocesstotheperson’slastknownaddress. |
|---|
| 3170 | | - | (c)ApersonaggrievedbyafinaldecisionoftheSecretaryunderthis |
|---|
| 3171 | | - | sectionmayappealtotheSuperiorCourtofWashingtonCounty,whichshall |
|---|
| 3172 | | - | considerthematterdenovo. |
|---|
| 3173 | | - | §1639.FORMS;PROCEDURES;RULES |
|---|
| 3174 | | - | TheSecretaryofStatemayadoptforms,procedures,andrulestoimplement |
|---|
| 3175 | | - | theprocessesandprovisionsofgoverningbusinessregistrationinthisState. |
|---|
| 3176 | | - | Subchapter3.AdministrativeProvisionsforBusinessOrganizations |
|---|
| 3177 | | - | §1652.RESERVEDNAME |
|---|
| 3178 | | - | (a)Apersonmayreservetheexclusiveuseofabusinessnameby |
|---|
| 3179 | | - | deliveringanapplicationtotheSecretaryofStateforfiling.Theapplication |
|---|
| 3180 | | - | shallstatethenameandaddressoftheapplicantandthenametobereserved. |
|---|
| 3181 | | - | IftheSecretaryfindsthattheentitynameisavailable,theSecretaryshall |
|---|
| 3182 | | - | reservethenamefortheapplicant’sexclusiveusefor120days. |
|---|
| 3183 | | - | (b)Theownerofareservednamemaytransferthereservationtoanother |
|---|
| 3184 | | - | personbysubmittingtotheSecretaryofStateforfilinganoticeofthetransfer, |
|---|
| 3185 | | - | whichstatesthenameandaddressofthetransferee. |
|---|
| 3186 | | - | §1653.ASSUMEDBUSINESSNAMEOFBUSINESSORGANIZATION BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3187 | | - | 2025 Page148of227 |
|---|
| 3188 | | - | AbusinessorganizationthatisauthorizedtodobusinessinthisStatemay |
|---|
| 3189 | | - | conductbusinessunderanassumednamebysubmittingtotheSecretaryof |
|---|
| 3190 | | - | Stateforfilingaregistrationthatidentifiestheauthorizedbusinessandthe |
|---|
| 3191 | | - | assumedname. |
|---|
| 3192 | | - | §1654.[Reserved] |
|---|
| 3193 | | - | §1655.DESIGNATIONOFAGENTFORSERVICEOFPROCESS; |
|---|
| 3194 | | - | CHANGE;RESIGNATION |
|---|
| 3195 | | - | (a)Dutytodesignateagentforserviceofprocess.Apersondoingbusiness |
|---|
| 3196 | | - | inthisStatethatisrequiredtodesignateandmaintainanagentforserviceof |
|---|
| 3197 | | - | processshallprovidethename,email,andaddressinformationofan |
|---|
| 3198 | | - | individualresidentofthisStateorofabusinessorganizationthathasaplace |
|---|
| 3199 | | - | ofbusinessin,andisauthorizedtoconductbusinessin,thisState. |
|---|
| 3200 | | - | (b)Attestation.Apersonwhodesignatesanagentforserviceofprocess |
|---|
| 3201 | | - | atteststhattheagentconsentstotheappointment. |
|---|
| 3202 | | - | (c)Dutytomaintaincurrentagentinformation;statementofchange. |
|---|
| 3203 | | - | Exceptasprovidedinsubsection(d)ofthissection,apersonregisteredwith |
|---|
| 3204 | | - | theSecretaryofStatemaychangeitsagentforserviceofprocess,orthe |
|---|
| 3205 | | - | agent’semailoraddressinformation,solelybysubmittingtotheSecretaryof |
|---|
| 3206 | | - | Stateforfilingastatementofchangethatprovidesitscurrentagent |
|---|
| 3207 | | - | informationandspecifiesanychangestotheagentinformation. |
|---|
| 3208 | | - | (d)Bulkstatementofchangebyagent. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3209 | | - | 2025 Page149of227 |
|---|
| 3210 | | - | (1)Ifanagentforserviceofprocesschangesitsname,email,oraddress |
|---|
| 3211 | | - | informationintherecordsoftheSecretaryofState,theagentmaysubmitto |
|---|
| 3212 | | - | theSecretaryforfilingabulkstatementofchangethat: |
|---|
| 3213 | | - | (A)identifiesthebusinessesforwhichtheagentservesastheagent |
|---|
| 3214 | | - | forserviceofprocessandwhoserecordstheSecretaryshallupdatetoreflect |
|---|
| 3215 | | - | thechangetotheagent’sinformation;and |
|---|
| 3216 | | - | (B)atteststhattheagenthasorwillpromptlyprovidenoticetoeach |
|---|
| 3217 | | - | businesswhoserecordisupdatedpursuanttothebulkstatementofchange. |
|---|
| 3218 | | - | (2)Forabulkstatementofchange,theSecretaryofStateshallcollect |
|---|
| 3219 | | - | fromtheagentaseparatefilingfeeforeachbusinesswhoserecordis |
|---|
| 3220 | | - | amended,subjecttosubsection1625(c)ofthistitle. |
|---|
| 3221 | | - | (e)Agentresignation;termination. |
|---|
| 3222 | | - | (1)Anagentforserviceofprocessmayresignasagentbysubmittingto |
|---|
| 3223 | | - | theSecretaryofStateforfilingastatementofresignationanddeliveringa |
|---|
| 3224 | | - | copyofthestatementtotheaffectedbusiness. |
|---|
| 3225 | | - | (2)Anagencyforserviceofprocessterminatesontheearlierof: |
|---|
| 3226 | | - | (A)30daysaftertheSecretaryfilesastatementofresignation;or |
|---|
| 3227 | | - | (B)thedateonwhichastatementofchangedesignatinganewagent |
|---|
| 3228 | | - | takeseffect. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3229 | | - | 2025 Page150of227 |
|---|
| 3230 | | - | (3)TheSecretaryshallwaivethefilingfeeforastatementofresignation |
|---|
| 3231 | | - | iftheagentonrecordatteststhatitdidnotconsenttoserveasagentfor |
|---|
| 3232 | | - | serviceofprocess. |
|---|
| 3233 | | - | §1655.SECRETARYOFSTATEASAGENTFORSERVICEOF |
|---|
| 3234 | | - | PROCESS |
|---|
| 3235 | | - | (a)Anagentforserviceofprocessappointedbyapersonregisteredwith |
|---|
| 3236 | | - | theSecretaryofStateisanagentforserviceofanyprocess,notice,ordemand |
|---|
| 3237 | | - | requiredorpermittedbylawtobeservedupontheperson. |
|---|
| 3238 | | - | (b)IfapersonregisteredwiththeSecretaryofStatefailstoappointor |
|---|
| 3239 | | - | maintainanagentforserviceofprocessinthisStateasrequiredbylaw,orthe |
|---|
| 3240 | | - | agentforserviceofprocesscannotwithreasonablediligencebefoundatthe |
|---|
| 3241 | | - | agent’saddress,theSecretaryofStateisanagentofthepersonuponwhom |
|---|
| 3242 | | - | process,notice,ordemandmaybeserved. |
|---|
| 3243 | | - | (c)(1)Serviceofanyprocess,notice,ordemandontheSecretaryofState |
|---|
| 3244 | | - | maybemadebydeliveringtoandleavingwiththeSecretaryofStateduplicate |
|---|
| 3245 | | - | copiesoftheprocess,notice,ordemand. |
|---|
| 3246 | | - | (2)Iftheprocess,notice,ordemandisservedontheSecretaryofState, |
|---|
| 3247 | | - | theSecretaryofStateshallforwardoneofthecopiesbyregisteredorcertified |
|---|
| 3248 | | - | mail,returnreceiptrequested,tothecompanyatitsprincipalofficeorlast |
|---|
| 3249 | | - | knownaddress. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3250 | | - | 2025 Page151of227 |
|---|
| 3251 | | - | (d)TheSecretaryofStateshallkeeparecordofallprocesses,notices,and |
|---|
| 3252 | | - | demandsservedpursuanttothissectionandrecordthetimeofandtheaction |
|---|
| 3253 | | - | takenregardingtheservice. |
|---|
| 3254 | | - | (e)Thissectionshallnotaffecttherighttoserveprocess,notice,or |
|---|
| 3255 | | - | demanduponapersoninanymannerotherwiseprovidedbylaw. |
|---|
| 3256 | | - | § 1656.SECRETARYOFSTATEASAGENTFORSERVICEOF |
|---|
| 3257 | | - | PROCESS |
|---|
| 3258 | | - | (a)Anagentforserviceofprocessappointedbyapersonregisteredwith |
|---|
| 3259 | | - | theSecretaryofStateisanagentforserviceofanyprocess,notice,ordemand |
|---|
| 3260 | | - | requiredorpermittedbylawtobeservedupontheperson. |
|---|
| 3261 | | - | (b)IfapersonregisteredwiththeSecretaryofStatefailstoappointor |
|---|
| 3262 | | - | maintainanagentforserviceofprocessinthisStateasrequiredbylaw,orthe |
|---|
| 3263 | | - | agentforserviceofprocesscannotwithreasonablediligencebefoundatthe |
|---|
| 3264 | | - | agent’saddress,theSecretaryofStateisanagentofthepersonuponwhom |
|---|
| 3265 | | - | process,notice,ordemandmaybeserved. |
|---|
| 3266 | | - | (c)(1)Serviceofanyprocess,notice,ordemandontheSecretaryofState |
|---|
| 3267 | | - | maybemadebydeliveringtoandleavingwiththeSecretaryofStateduplicate |
|---|
| 3268 | | - | copiesoftheprocess,notice,ordemand. |
|---|
| 3269 | | - | (2)Iftheprocess,notice,ordemandisservedontheSecretaryofState, |
|---|
| 3270 | | - | theSecretaryofStateshallforwardoneofthecopiesbyregisteredorcertified BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3271 | | - | 2025 Page152of227 |
|---|
| 3272 | | - | mail,returnreceiptrequested,tothecompanyatitsprincipalofficeorlast |
|---|
| 3273 | | - | knownaddress. |
|---|
| 3274 | | - | (d)Serviceiseffectiveontheearliestof: |
|---|
| 3275 | | - | (1)thedatethepersonreceivestheprocess,notice,ordemand; |
|---|
| 3276 | | - | (2)thedateshownonthereturnreceipt,ifsignedonbehalfofthe |
|---|
| 3277 | | - | person;or |
|---|
| 3278 | | - | (3)fivedaysaftertheprocess,notice,ordemandisdepositedbythe |
|---|
| 3279 | | - | SecretaryofStatefordeliverybytheU.S.PostalService,ifpostageisprepaid |
|---|
| 3280 | | - | totheaddressoftheprincipalofficeorlastknownaddressreflectedinthe |
|---|
| 3281 | | - | recordsoftheSecretaryofState. |
|---|
| 3282 | | - | (e)TheSecretaryofStateshallkeeparecordofallprocesses,notices,and |
|---|
| 3283 | | - | demandsservedpursuanttothissectionandrecordthetimeofandtheaction |
|---|
| 3284 | | - | takenregardingtheservice. |
|---|
| 3285 | | - | (f)Thissectionshallnotaffecttherighttoserveprocess,notice,ordemand |
|---|
| 3286 | | - | uponapersoninanymannerotherwiseprovidedbylaw. |
|---|
| 3287 | | - | Sec.5.11V.S.A.chapter22isamendedtoread: |
|---|
| 3288 | | - | CHAPTER22.PARTNERSHIPS |
|---|
| 3289 | | - | *** |
|---|
| 3290 | | - | §3205.EXECUTION,FILING,ANDRECORDINGOFSTATEMENTS |
|---|
| 3291 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3292 | | - | 2025 Page153of227 |
|---|
| 3293 | | - | (f)TheSecretaryofStateshallcollectafeeforfilingorprovidinga |
|---|
| 3294 | | - | certifiedcopyofastatementassetforthinsection3310ofthistitle. |
|---|
| 3295 | | - | *** |
|---|
| 3296 | | - | §3291.STATEMENTOFQUALIFICATION |
|---|
| 3297 | | - | *** |
|---|
| 3298 | | - | (c)Aftertheapprovalrequiredbysubsection(b)ofthissection,a |
|---|
| 3299 | | - | partnershipmayonlybecomealimitedliabilitypartnershipbyfilinga |
|---|
| 3300 | | - | statementofqualification.Thestatementmustcontain: |
|---|
| 3301 | | - | (1)thenameofthepartnership; |
|---|
| 3302 | | - | (2)thelocationoftheprincipalplaceofbusinessinthisState; |
|---|
| 3303 | | - | (3)ifthepartnershipdoesnothaveaprincipalplaceofbusinessinthis |
|---|
| 3304 | | - | State,thename,email,andstreetaddressinformationofthepartnership’s |
|---|
| 3305 | | - | agentforserviceofprocesspursuanttosection1655ofthistitle; |
|---|
| 3306 | | - | (4)astatementthatthepartnershipelectstobealimitedliability |
|---|
| 3307 | | - | partnership;and |
|---|
| 3308 | | - | (5)adeferredeffectivedate,ifany. |
|---|
| 3309 | | - | (d)Theagentofalimitedliabilitypartnershipforserviceofprocessmust |
|---|
| 3310 | | - | beanindividualwhoisaresidentofthisStateorotherpersonauthorizedto |
|---|
| 3311 | | - | dobusinessinthisState.[Repealed.] |
|---|
| 3312 | | - | (e)Thestatusofapartnershipasalimitedliabilitypartnershipiseffective |
|---|
| 3313 | | - | onthelaterofthefilingofthestatementoradatespecifiedinthestatement. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3314 | | - | 2025 Page154of227 |
|---|
| 3315 | | - | Thestatusremainseffective,regardlessofchangesinthepartnership,untilitis |
|---|
| 3316 | | - | canceledpursuanttosubsection3205(d)ofthistitleorrevokedpursuantto |
|---|
| 3317 | | - | section3293ofthistitle. |
|---|
| 3318 | | - | *** |
|---|
| 3319 | | - | §3293.ANNUALREPORT |
|---|
| 3320 | | - | (a)Alimitedliabilitypartnership,andaforeignlimitedliability |
|---|
| 3321 | | - | partnershipauthorizedtotransactbusinessinthisState,shallfileanannual |
|---|
| 3322 | | - | reportintheOfficeoftheSecretaryofStatewhichthatcontains: |
|---|
| 3323 | | - | (1)thenameofthelimitedliabilitypartnershipandthestateorother |
|---|
| 3324 | | - | jurisdictionunderwhoselawstheforeignlimitedliabilitypartnershipis |
|---|
| 3325 | | - | formed; |
|---|
| 3326 | | - | (2)thestreetaddressofthepartnership’sprincipalofficeand,if |
|---|
| 3327 | | - | different,thestreetaddressofanofficeinthisState,ifany;and |
|---|
| 3328 | | - | (3)ifthepartnershipdoesnothaveanofficeinthisState,thename, |
|---|
| 3329 | | - | email,andstreetaddressofthepartnership’sdesignatedagentforserviceof |
|---|
| 3330 | | - | process. |
|---|
| 3331 | | - | *** |
|---|
| 3332 | | - | (f)Areinstatementundersubsection(e)ofthissectionrelatesbacktoand |
|---|
| 3333 | | - | takeseffectasoftheeffectivedateoftherevocation,andthepartnership’s |
|---|
| 3334 | | - | statusasalimitedliabilitypartnershipcontinuesasiftherevocationhadnever |
|---|
| 3335 | | - | occurred. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3336 | | - | 2025 Page155of227 |
|---|
| 3337 | | - | (g)TheSecretaryofStateshallamenditsrecordstoreflectachange,if |
|---|
| 3338 | | - | specifiedinthereport,tothebusiness’spurpose,email,address,orprincipal |
|---|
| 3339 | | - | information. |
|---|
| 3340 | | - | *** |
|---|
| 3341 | | - | §3302.STATEMENTOFFOREIGNQUALIFICATION |
|---|
| 3342 | | - | (a)BeforetransactingbusinessinthisState,aforeignlimitedliability |
|---|
| 3343 | | - | partnershipmustfileastatementofforeignqualification.Thestatementmust |
|---|
| 3344 | | - | contain: |
|---|
| 3345 | | - | *** |
|---|
| 3346 | | - | (3)IfthereisnoofficeofthepartnershipinthisState,thename,email, |
|---|
| 3347 | | - | andstreetaddressinformationofthepartnership’sagentforserviceofprocess |
|---|
| 3348 | | - | pursuanttosection1655ofthistitle. |
|---|
| 3349 | | - | (4)Adeferredeffectivedate,ifany. |
|---|
| 3350 | | - | (b)Theagentofaforeignlimitedliabilitypartnershipforserviceofprocess |
|---|
| 3351 | | - | mustbeanindividualwhoisaresidentofthisStateorotherpersonauthorized |
|---|
| 3352 | | - | todobusinessinthisState.[Repealed.] |
|---|
| 3353 | | - | (c)Thestatusofapartnershipasaforeignlimitedliabilitypartnershipis |
|---|
| 3354 | | - | effectiveonthelaterofthefilingofthestatementofforeignqualificationora |
|---|
| 3355 | | - | datespecifiedinthestatement.Thestatusremainseffective,regardlessof |
|---|
| 3356 | | - | changesinthepartnership,untilitiscanceledpursuanttosubsection3205(d) |
|---|
| 3357 | | - | orrevokedpursuanttosection3293ofthistitle. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3358 | | - | 2025 Page156of227 |
|---|
| 3359 | | - | (d)Anamendmentorcancellationofastatementofforeignqualificationis |
|---|
| 3360 | | - | effectivewhenitisfiledoronadeferredeffectivedatespecifiedinthe |
|---|
| 3361 | | - | amendmentorcancellation. |
|---|
| 3362 | | - | §3303.EFFECTOFFAILURETOQUALIFY |
|---|
| 3363 | | - | (a)(1)Aforeignlimitedliabilitypartnershiptransactingbusinessinthis |
|---|
| 3364 | | - | Statemaynotmaintainanactionorproceedingorraiseacounterclaim, |
|---|
| 3365 | | - | crossclaim,oraffirmativedefenseinthisStateunlessithasineffecta |
|---|
| 3366 | | - | statementofforeignqualification. |
|---|
| 3367 | | - | (2)Thesuccessortoaforeignlimitedliabilitypartnershipthat |
|---|
| 3368 | | - | transactedbusinessinthisStatewithoutacertificateofauthoritystatementof |
|---|
| 3369 | | - | foreignqualificationineffectandtheassigneeofacauseofactionarisingout |
|---|
| 3370 | | - | ofthatbusinessmaynotmaintainaproceedingorraiseacounterclaim, |
|---|
| 3371 | | - | crossclaim,oraffirmativedefensebasedonthatcauseofactioninanycourtin |
|---|
| 3372 | | - | thisStateuntiltheforeignlimitedliabilitypartnershiporitssuccessoror |
|---|
| 3373 | | - | assigneeobtainsfilesacertificateofauthoritystatementofforeign |
|---|
| 3374 | | - | qualification. |
|---|
| 3375 | | - | *** |
|---|
| 3376 | | - | Sec.6.11V.S.A.chapter23isamendedtoread: |
|---|
| 3377 | | - | CHAPTER23.LIMITEDPARTNERSHIPS |
|---|
| 3378 | | - | *** |
|---|
| 3379 | | - | §3403.RESERVATIONOFNAME BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3380 | | - | 2025 Page157of227 |
|---|
| 3381 | | - | (a)Theexclusiverighttotheuseofanamemaybereservedby: |
|---|
| 3382 | | - | (1)anypersonintendingtoorganizealimitedpartnershipunderthis |
|---|
| 3383 | | - | chapterandtoadoptthatname; |
|---|
| 3384 | | - | (2)anydomesticlimitedpartnershiporanyforeignlimitedpartnership |
|---|
| 3385 | | - | registeredinthisStatewhich,ineithercase,intendstoadoptthatname; |
|---|
| 3386 | | - | (3)anyforeignlimitedpartnershipintendingtoregisterinthisStateand |
|---|
| 3387 | | - | adoptthatname;and |
|---|
| 3388 | | - | (4)anypersonintendingtoorganizeaforeignlimitedpartnershipand |
|---|
| 3389 | | - | intendingtohaveitregisteredinthisStateandtoadoptthatname. |
|---|
| 3390 | | - | (b)ThereservationshallbemadebyfilingwiththeSecretaryofStatean |
|---|
| 3391 | | - | application,executedbytheapplicant,toreserveaspecifiedname.Ifthe |
|---|
| 3392 | | - | SecretaryofStatefindsthatthenameisavailableforusebyadomesticor |
|---|
| 3393 | | - | foreignlimitedpartnership,heorsheshallreservethenamefortheexclusive |
|---|
| 3394 | | - | useoftheapplicantforaperiodof120days.Theownerofanamereserved |
|---|
| 3395 | | - | underthissectionmayrenewthereservationfortwosuccessiveperiodsof120 |
|---|
| 3396 | | - | dayseach.Therighttotheexclusiveuseofareservednamemaybe |
|---|
| 3397 | | - | transferredtoanyotherpersonbyfilingintheOfficeoftheSecretaryofState |
|---|
| 3398 | | - | anoticeofthetransfer,executedbytheapplicantforwhomthenamewas |
|---|
| 3399 | | - | reservedandspecifyingthenameandaddressofthetransfereeApersonmay |
|---|
| 3400 | | - | reservetheexclusiveuseofabusinessnamebydeliveringanapplicationtothe |
|---|
| 3401 | | - | SecretaryofStateforfilingpursuanttosection1652ofthistitle. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3402 | | - | 2025 Page158of227 |
|---|
| 3403 | | - | §3404.SPECIFIEDOFFICEANDAGENT |
|---|
| 3404 | | - | EachlimitedpartnershipshallcontinuouslymaintaininthisState: |
|---|
| 3405 | | - | (1)anoffice,whichmaybutneednotbeaplaceofitsbusinessinthis |
|---|
| 3406 | | - | State,atwhichshallbekepttherecordsrequiredbysection3405ofthistitleto |
|---|
| 3407 | | - | bemaintained;and |
|---|
| 3408 | | - | (2)anagentforserviceofprocessonthelimitedpartnership,which |
|---|
| 3409 | | - | agentmustbeanindividualresidentofthisState,adomesticcorporation, |
|---|
| 3410 | | - | partnership,limitedliabilitycompany,oraforeigncorporation,partnership, |
|---|
| 3411 | | - | orlimitedliabilitycompanyauthorizedtodobusinessinthisStatepursuantto |
|---|
| 3412 | | - | section1655ofthistitle. |
|---|
| 3413 | | - | *** |
|---|
| 3414 | | - | §3411.CERTIFICATEOFLIMITEDPARTNERSHIP |
|---|
| 3415 | | - | (a)Inordertoformalimitedpartnership,acertificateoflimited |
|---|
| 3416 | | - | partnershipmustbeexecutedandfiledintheOfficeoftheSecretaryofState. |
|---|
| 3417 | | - | Thecertificateshallsetforth: |
|---|
| 3418 | | - | (1)thenameofthelimitedpartnership; |
|---|
| 3419 | | - | (2)theaddressoftheofficeandthename,email,andaddress |
|---|
| 3420 | | - | informationoftheagentforserviceofprocessrequiredtobemaintainedby |
|---|
| 3421 | | - | section3404ofthistitle; |
|---|
| 3422 | | - | (3)thenameandthebusinessaddressofeachgeneralpartner,andof |
|---|
| 3423 | | - | anyotherprincipalthelimitedpartnershipprovides; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3424 | | - | 2025 Page159of227 |
|---|
| 3425 | | - | (4)thenameandplaceofresidencethebusinessaddressofeachlimited |
|---|
| 3426 | | - | partnerandtheamountofcashandadescriptionofandtheagreedvalueof |
|---|
| 3427 | | - | otherpropertycontributedbyeachlimitedpartner; |
|---|
| 3428 | | - | *** |
|---|
| 3429 | | - | §3482.REGISTRATION |
|---|
| 3430 | | - | BeforetransactingbusinessinthisState,aforeignlimitedpartnershipshall |
|---|
| 3431 | | - | registerwiththeSecretaryofState.Inordertoregister,aforeignlimited |
|---|
| 3432 | | - | partnershipshallsubmittotheSecretaryofState,induplicate,anapplication |
|---|
| 3433 | | - | forregistrationasaforeignlimitedpartnership,signedandsworntobya |
|---|
| 3434 | | - | generalpartnerandsettingforth: |
|---|
| 3435 | | - | (1)thenameoftheforeignlimitedpartnershipand,ifdifferent,the |
|---|
| 3436 | | - | nameunderwhichitproposestoregisterandtransactbusinessinthisState; |
|---|
| 3437 | | - | (2)thestateanddateofitsformation; |
|---|
| 3438 | | - | (3)thename,email,andaddressinformationofanyagentforserviceof |
|---|
| 3439 | | - | processontheforeignlimitedpartnershipwhomtheforeignlimited |
|---|
| 3440 | | - | partnershipelectstoappoint;theagentmustbeanindividualresidentofthis |
|---|
| 3441 | | - | State,adomesticcorporation,oraforeigncorporationhavingaplaceof |
|---|
| 3442 | | - | businessin,andauthorizedtodobusinessin,thisStatepursuanttosection |
|---|
| 3443 | | - | 1655ofthistitle; |
|---|
| 3444 | | - | (4)astatementthattheSecretaryofStateisappointedtheagentofthe |
|---|
| 3445 | | - | foreignlimitedpartnershipforserviceofprocessifnoagenthasbeen BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3446 | | - | 2025 Page160of227 |
|---|
| 3447 | | - | appointedundersubdivision(3)ofthissectionor,ifappointed,theagent’s |
|---|
| 3448 | | - | authorityhasbeenrevokedoriftheagentcannotbefoundorservedwiththe |
|---|
| 3449 | | - | exerciseofreasonablediligence; |
|---|
| 3450 | | - | (5)theaddressoftheofficerequiredtobemaintainedinthestateofits |
|---|
| 3451 | | - | organizationbythelawsofthatstateor,ifnotsorequired,oftheprincipal |
|---|
| 3452 | | - | officeoftheforeignlimitedpartnership; |
|---|
| 3453 | | - | (6)thenameandbusinessaddressofeachgeneralpartner,andofany |
|---|
| 3454 | | - | otherprincipaltheforeignlimitedpartnershipprovides;and |
|---|
| 3455 | | - | (7)theaddressoftheofficeatwhichiskeptalistofthenamesand |
|---|
| 3456 | | - | addressesofthelimitedpartnersandtheircapitalcontributions,togetherwith |
|---|
| 3457 | | - | anundertakingbytheforeignlimitedpartnershiptokeepthoserecordsuntil |
|---|
| 3458 | | - | theforeignlimitedpartnership’sregistrationinthisStateiscanceledor |
|---|
| 3459 | | - | withdrawn. |
|---|
| 3460 | | - | *** |
|---|
| 3461 | | - | §3487.TRANSACTIONOFBUSINESSWITHOUTREGISTRATION |
|---|
| 3462 | | - | (a)(1)AforeignlimitedpartnershiptransactingbusinessinthisStatemay |
|---|
| 3463 | | - | notmaintainanactionorproceedingorraiseacounterclaim,crossclaim,or |
|---|
| 3464 | | - | affirmativedefenseinthisStateuntilithasregisteredinthisState. |
|---|
| 3465 | | - | (2)Thesuccessortoaforeignlimitedpartnershipthattransacted |
|---|
| 3466 | | - | businessinthisStatewithoutacertificateofauthorityregistrationandthe |
|---|
| 3467 | | - | assigneeofacauseofactionarisingoutofthatbusinessmaynotmaintaina BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3468 | | - | 2025 Page161of227 |
|---|
| 3469 | | - | proceedingorraiseacounterclaim,crossclaim,oraffirmativedefensebased |
|---|
| 3470 | | - | onthatcauseofactioninanycourtinthisStateuntiltheforeignlimited |
|---|
| 3471 | | - | partnershiporitssuccessororassigneeobtainsacertificateofauthorityhas |
|---|
| 3472 | | - | registered. |
|---|
| 3473 | | - | *** |
|---|
| 3474 | | - | Sec.7.11V.S.A.chapter25isamendedtoread: |
|---|
| 3475 | | - | CHAPTER25.LIMITEDLIABILITYCOMPANIES |
|---|
| 3476 | | - | *** |
|---|
| 3477 | | - | §4006.RESERVEDNAME |
|---|
| 3478 | | - | (a)(1)Apersonmayreservetheexclusiveuseofthenameofalimited |
|---|
| 3479 | | - | liabilitycompany,includingafictitiousorassumednameforaforeignlimited |
|---|
| 3480 | | - | liabilitycompanywhosenameisnotavailable,bydeliveringanapplicationto |
|---|
| 3481 | | - | theSecretaryofStateforfiling. |
|---|
| 3482 | | - | (2)Theapplicationshallstatethenameandaddressoftheapplicantand |
|---|
| 3483 | | - | thenameproposedtobereserved. |
|---|
| 3484 | | - | (3)IftheSecretaryofStatefindsthatthenameappliedforisavailable, |
|---|
| 3485 | | - | theSecretaryshallreservethatnamefortheapplicant’sexclusiveusefora |
|---|
| 3486 | | - | 120-dayperiod. |
|---|
| 3487 | | - | (b)Theownerofareservedlimitedliabilitycompanynamemayrenewthe |
|---|
| 3488 | | - | reservationforsuccessiveperiodsof120dayseachbydeliveringarenewal BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3489 | | - | 2025 Page162of227 |
|---|
| 3490 | | - | applicationtotheSecretaryofStateduringthe45-dayperiodprecedingthe |
|---|
| 3491 | | - | dateofexpirationofthereservation. |
|---|
| 3492 | | - | (c)Theownerofanamereservedforalimitedliabilitycompanymay |
|---|
| 3493 | | - | assignthereservationtoanotherpersonbydeliveringtotheSecretaryofState |
|---|
| 3494 | | - | forfilingasignednoticeoftheassignmentthatstatesthenameandaddressof |
|---|
| 3495 | | - | theassignee. |
|---|
| 3496 | | - | (d)Theownerofareservedlimitedliabilitycompanynamemayterminate |
|---|
| 3497 | | - | thenamereservationbydeliveringtotheSecretaryofStateforfilingasigned |
|---|
| 3498 | | - | noticeofwithdrawalofnamereservationApersonmayreservetheexclusive |
|---|
| 3499 | | - | useofabusinessnamebydeliveringanapplicationtotheSecretaryofState |
|---|
| 3500 | | - | forfilingpursuanttosection1652ofthistitle. |
|---|
| 3501 | | - | §4007.DESIGNATEDOFFICEANDAGENT |
|---|
| 3502 | | - | (a)Alimitedliabilitycompanyandaforeignlimitedliabilitycompany |
|---|
| 3503 | | - | authorizedtodobusinessinthisStateshalldesignateandcontinuously |
|---|
| 3504 | | - | maintain: |
|---|
| 3505 | | - | (1)adesignatedofficefornotificationpurposes,whichmaybutneed |
|---|
| 3506 | | - | notbeaplaceofitsbusiness,andmaybutneednotbelocatedinthisState; |
|---|
| 3507 | | - | and |
|---|
| 3508 | | - | (2)anagentandstreetaddressoftheagentforserviceofprocessonthe |
|---|
| 3509 | | - | limitedliabilitycompanyinthisStatepursuanttosection1655ofthistitle. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3510 | | - | 2025 Page163of227 |
|---|
| 3511 | | - | (b)Anagentforserviceofprocessshallbeanindividualresidentofthis |
|---|
| 3512 | | - | State,adomesticcorporation,anotherlimitedliabilitycompany,oraforeign |
|---|
| 3513 | | - | corporationorforeignlimitedliabilitycompanyauthorizedtodobusinessin |
|---|
| 3514 | | - | thisState. |
|---|
| 3515 | | - | §4008.CHANGEOFDESIGNATEDOFFICEORAGENTFORSERVICE |
|---|
| 3516 | | - | OFPROCESS |
|---|
| 3517 | | - | (a)Alimitedliabilitycompanyorforeignlimitedliabilitycompanymay |
|---|
| 3518 | | - | changeitsdesignatedofficeoragentforserviceofprocessbydeliveringtothe |
|---|
| 3519 | | - | SecretaryofStateforfilingastatementofchangethatsetsforth:itscurrent |
|---|
| 3520 | | - | designatedofficeinformationandanychangetotheinformation. |
|---|
| 3521 | | - | (1)thenameofthecompany; |
|---|
| 3522 | | - | (2)thestreetaddress,andthemailingaddressifdifferentfromthestreet |
|---|
| 3523 | | - | address,ofitscurrentdesignatedoffice; |
|---|
| 3524 | | - | (3)ifthecurrentdesignatedofficeistobechanged,thestreetaddress, |
|---|
| 3525 | | - | andthemailingaddressifdifferentfromthestreetaddress,ofthenew |
|---|
| 3526 | | - | designatedoffice; |
|---|
| 3527 | | - | (4)thenameandaddressofitscurrentagentforserviceofprocess;and |
|---|
| 3528 | | - | (5)ifthecurrentagentforserviceofprocessistobechanged,thename |
|---|
| 3529 | | - | ofthenewagentforserviceofprocessandthenewagent’swrittenconsent, |
|---|
| 3530 | | - | eitheronthestatementorattachedtoit,totheappointment. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3531 | | - | 2025 Page164of227 |
|---|
| 3532 | | - | (b)Ifanagentforserviceofprocesschangesthestreetaddressofthe |
|---|
| 3533 | | - | agent’sbusinessoffice,theagentmaychangethestreetaddressofthe |
|---|
| 3534 | | - | designatedofficeofanylimitedliabilitycompanyorforeignlimitedliability |
|---|
| 3535 | | - | companyforwhichtheagentistheagentforserviceofprocessbynotifyingthe |
|---|
| 3536 | | - | companyinwritingofthechangeandsigning,eithermanuallyorinfacsimile, |
|---|
| 3537 | | - | andfilingwiththeSecretaryofStateastatementthatcomplieswiththe |
|---|
| 3538 | | - | requirementsofsubsection(a)ofthissectionandrecitesthatthecompanyhas |
|---|
| 3539 | | - | beennotifiedofthechangeAlimitedliabilitycompanyorforeignlimited |
|---|
| 3540 | | - | liabilitycompanyshallchangeitsagentforserviceofprocess,ortheagent’s |
|---|
| 3541 | | - | emailoraddressinformation,bydeliveringtotheSecretaryforfilinga |
|---|
| 3542 | | - | statementofchangepursuanttosection1655ofthistitle. |
|---|
| 3543 | | - | §4009.RESIGNATIONOFAGENTFORSERVICEOFPROCESS |
|---|
| 3544 | | - | (a)Toresignasanagentforserviceofprocessofalimitedliability |
|---|
| 3545 | | - | companyorforeignlimitedliabilitycompany,theagentshalldelivertothe |
|---|
| 3546 | | - | SecretaryofStateforfilingastatementofresignationcontainingthecompany |
|---|
| 3547 | | - | nameandstatingthattheagentisresigningpursuanttosection1655ofthis |
|---|
| 3548 | | - | title. |
|---|
| 3549 | | - | (b)TheSecretaryofStateshallfileastatementofresignationdelivered |
|---|
| 3550 | | - | undersubsection(a)ofthissectionandmailorotherwisedeliveracopytothe |
|---|
| 3551 | | - | designatedofficeofthelimitedliabilitycompany. |
|---|
| 3552 | | - | (c)Anagencyforserviceofprocessterminatesontheearlierof: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3553 | | - | 2025 Page165of227 |
|---|
| 3554 | | - | (1)the41stdayaftertheSecretaryofStatefilesthestatementof |
|---|
| 3555 | | - | resignation;or |
|---|
| 3556 | | - | (2)whenarecorddesignatinganewagentforserviceofprocessis |
|---|
| 3557 | | - | deliveredtotheSecretaryofStateforfilingonbehalfofthelimitedliability |
|---|
| 3558 | | - | companyandbecomeseffective. |
|---|
| 3559 | | - | §4010.SERVICEOFPROCESS |
|---|
| 3560 | | - | (a)Anagentforserviceofprocessappointedbyalimitedliabilitycompany |
|---|
| 3561 | | - | oraforeignlimitedliabilitycompanyisanagentofthecompanyforserviceof |
|---|
| 3562 | | - | anyprocess,notice,ordemandrequiredorpermittedbylawtobeservedupon |
|---|
| 3563 | | - | thecompany. |
|---|
| 3564 | | - | (b)Ifalimitedliabilitycompanyorforeignlimitedliabilitycompanyfails |
|---|
| 3565 | | - | toappointormaintainanagentforserviceofprocessinthisStateortheagent |
|---|
| 3566 | | - | forserviceofprocesscannotwithreasonablediligencebefoundattheagent’s |
|---|
| 3567 | | - | address,theSecretaryofStateisanagentofthecompanyuponwhomprocess, |
|---|
| 3568 | | - | notice,ordemandmaybeserved. |
|---|
| 3569 | | - | (c)Serviceofanyprocess,notice,ordemandontheSecretaryofStatemay |
|---|
| 3570 | | - | bemadebydeliveringtoandleavingwiththeSecretaryofStateduplicate |
|---|
| 3571 | | - | copiesoftheprocess,notice,ordemand.Iftheprocess,notice,ordemandis |
|---|
| 3572 | | - | servedontheSecretaryofState,theSecretaryofStateshallforwardoneofthe |
|---|
| 3573 | | - | copiesbyregisteredorcertifiedmail,returnreceiptrequested,tothecompany BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3574 | | - | 2025 Page166of227 |
|---|
| 3575 | | - | atitsregisteredoffice.ServiceontheSecretaryofStateshallbereturnablein |
|---|
| 3576 | | - | notlessthan30days. |
|---|
| 3577 | | - | (d)TheSecretaryofStateshallkeeparecordofallprocesses,notices,and |
|---|
| 3578 | | - | demandsservedpursuanttothissectionandrecordthetimeofandtheaction |
|---|
| 3579 | | - | takenregardingtheservice. |
|---|
| 3580 | | - | (e)Thissectionshallnotaffecttherighttoserveprocess,notice,ordemand |
|---|
| 3581 | | - | uponalimitedliabilitycompanyorforeignlimitedliabilitycompanyinany |
|---|
| 3582 | | - | mannerotherwiseprovidedbylawAlimitedliabilitycompanyorforeign |
|---|
| 3583 | | - | limitedliabilitycompanyissubjecttotheserviceofprocessprovisionsin |
|---|
| 3584 | | - | section1656ofthistitle. |
|---|
| 3585 | | - | *** |
|---|
| 3586 | | - | §4023.ARTICLESOFORGANIZATION |
|---|
| 3587 | | - | *** |
|---|
| 3588 | | - | (b)Articlesoforganizationofalimitedliabilitycompanymaysetforth: |
|---|
| 3589 | | - | (1)provisionspermittedtobesetforthinanoperatingagreement;and |
|---|
| 3590 | | - | (2)name,email,andaddressinformationforoneormoreowners, |
|---|
| 3591 | | - | officers,orotherprincipalsofthecompany;and |
|---|
| 3592 | | - | (3)othermattersnotinconsistentwithlaw. |
|---|
| 3593 | | - | *** |
|---|
| 3594 | | - | §4033.ANNUALREPORTFORSECRETARYOFSTATE BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3595 | | - | 2025 Page167of227 |
|---|
| 3596 | | - | (a)Eachdomesticlimitedliabilitycompanyandeachforeignlimited |
|---|
| 3597 | | - | liabilitycompanyauthorizedtotransactbusinessinthisStateshallfilean |
|---|
| 3598 | | - | annualreportwiththeSecretaryofState.Theannualreportshallsetforththe |
|---|
| 3599 | | - | followinginformation: |
|---|
| 3600 | | - | (1)thenameofthecompanyandthestateorcountryunderwhoselawit |
|---|
| 3601 | | - | isorganized;and |
|---|
| 3602 | | - | (2)theaddressofitsdesignatedoffice;and |
|---|
| 3603 | | - | (3)thename,email,andaddressofitsdesignatedagentforserviceof |
|---|
| 3604 | | - | processatthatofficeinthisState. |
|---|
| 3605 | | - | (b)Informationintheannualreportshallbecurrentasofthedatethe |
|---|
| 3606 | | - | annualreportissignedonbehalfofthecompany. |
|---|
| 3607 | | - | (c)TheannualreportshallbedeliveredtotheSecretaryofStatewithin |
|---|
| 3608 | | - | threemonthsaftertheexpirationofthecompany’sfiscalyear. |
|---|
| 3609 | | - | (d)TheSecretaryofStateshallamenditsrecordstoreflectachange,if |
|---|
| 3610 | | - | specifiedinthereport,tothebusiness’spurpose,email,address,orprincipal |
|---|
| 3611 | | - | information. |
|---|
| 3612 | | - | *** |
|---|
| 3613 | | - | §4112.APPLICATIONFORCERTIFICATEOFAUTHORITY |
|---|
| 3614 | | - | (a)Aforeignlimitedliabilitycompanymayapplyforacertificateof |
|---|
| 3615 | | - | authoritytotransactbusinessinthisStatebydeliveringanapplicationtothe |
|---|
| 3616 | | - | SecretaryofStateforfiling.Theapplicationshallsetforth: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3617 | | - | 2025 Page168of227 |
|---|
| 3618 | | - | (1)thenameoftheforeigncompanyand,ifitsnameisunavailablefor |
|---|
| 3619 | | - | useinthisState,analternatenamethatsatisfiestherequirementsofsection |
|---|
| 3620 | | - | 4116ofthistitle; |
|---|
| 3621 | | - | (2)thenameofthestateorcountryunderwhoselawitisorganized; |
|---|
| 3622 | | - | (3)theaddressofitsinitialdesignatedoffice;and |
|---|
| 3623 | | - | (4)thename,email,andaddressinformationandstreetaddress,andthe |
|---|
| 3624 | | - | mailingaddressifdifferentfromthestreetaddress,ofitsdesignatedagentfor |
|---|
| 3625 | | - | serviceofprocessinthisStatepursuanttosection1655ofthistitle. |
|---|
| 3626 | | - | (b)Anapplicationmaysetforth: |
|---|
| 3627 | | - | (1)provisionspermittedtobeincludedinanoperatingagreement; |
|---|
| 3628 | | - | (2)thename,email,andaddressinformationforoneormoreowners, |
|---|
| 3629 | | - | officers,orotherprincipalsofthecompany;and |
|---|
| 3630 | | - | (3)othermattersnotinconsistentwithlaw. |
|---|
| 3631 | | - | (c)Aforeignlimitedliabilitycompanyshalldeliverwiththecompleted |
|---|
| 3632 | | - | applicationacertificateofexistenceoradocumentofsimilarimport, |
|---|
| 3633 | | - | authenticatedbytheSecretaryofStateorotherofficialhavingcustodyof |
|---|
| 3634 | | - | companyrecordsinthestateorcountryunderwhoselawitisorganized,dated |
|---|
| 3635 | | - | nonotearlierthan90dayspriortofilingoftheapplication. |
|---|
| 3636 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3637 | | - | 2025 Page169of227 |
|---|
| 3638 | | - | ***UpdatestoTitle11Alanguage*** |
|---|
| 3639 | | - | Sec.8.11AV.S.A.chapter1isamendedtoread: |
|---|
| 3640 | | - | CHAPTER1.GENERALPROVISIONS |
|---|
| 3641 | | - | *** |
|---|
| 3642 | | - | §1.20.FILINGREQUIREMENTS |
|---|
| 3643 | | - | *** |
|---|
| 3644 | | - | (j)(1)Anyofthetermsofaplanorfileddocumentsmaybemade |
|---|
| 3645 | | - | dependentonfactsascertainableoutsidetheplanorfileddocumentsas |
|---|
| 3646 | | - | follows: |
|---|
| 3647 | | - | (A)Themannerinwhichthefactsoperateonthetermsoftheplanor |
|---|
| 3648 | | - | fileddocumentmustbeclearlyandexpresslysetforthintheplanorfiled |
|---|
| 3649 | | - | document. |
|---|
| 3650 | | - | (B)Thefactsmayincludewithoutlimitationactionsoreventswithin |
|---|
| 3651 | | - | thecontrolof,ordeterminationsmadeby,apartpartytotheplanorfilingthe |
|---|
| 3652 | | - | fileddocumentorarepresentativeofapartytotheplanorfilingthefiled |
|---|
| 3653 | | - | document. |
|---|
| 3654 | | - | (2)Asusedinthissection: |
|---|
| 3655 | | - | (A)“Fileddocument”meansadocumentfiledwiththesecretaryof |
|---|
| 3656 | | - | stateSecretaryofStateunderanyprovisionofthistitle,exceptchapter15or |
|---|
| 3657 | | - | section16.22ofthistitle. |
|---|
| 3658 | | - | (B)“Plan”meansaplanofmergerorshareexchange. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3659 | | - | 2025 Page170of227 |
|---|
| 3660 | | - | *** |
|---|
| 3661 | | - | §1.40.DEFINITIONS |
|---|
| 3662 | | - | Asusedinthistitle: |
|---|
| 3663 | | - | *** |
|---|
| 3664 | | - | (8)“Entity”includescorporationandforeigncorporation;not-for- |
|---|
| 3665 | | - | profitnonprofitcorporation;profitandnot-for-profitnonprofitunincorporated |
|---|
| 3666 | | - | association;businesstrust,estate,partnership,trust,andtwoormorepersons |
|---|
| 3667 | | - | havingajointorcommoneconomicinterest;andstate,UnitedStates,and |
|---|
| 3668 | | - | foreigngovernment. |
|---|
| 3669 | | - | *** |
|---|
| 3670 | | - | Sec.9.11AV.S.A.§ 2.02isamendedtoread: |
|---|
| 3671 | | - | §2.02.ARTICLESOFINCORPORATION |
|---|
| 3672 | | - | (a)Thearticlesofincorporationshallsetforth: |
|---|
| 3673 | | - | (1)acorporatenameforthecorporationthatsatisfiestherequirements |
|---|
| 3674 | | - | ofsection4.01ofthistitle; |
|---|
| 3675 | | - | (2)theclassesofshares,ifany,andthenumberofsharesineachclass |
|---|
| 3676 | | - | thatthecorporationisauthorizedtoissue; |
|---|
| 3677 | | - | (3)thenumberofsharesthecorporationisauthorizedtoissue; |
|---|
| 3678 | | - | (4)thestreetaddressofthecorporation’sinitialregisteredofficeand |
|---|
| 3679 | | - | thenameandemailofitsinitialregisteredagentforserviceofprocessatthat |
|---|
| 3680 | | - | officepursuantto11V.S.A.§1655; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3681 | | - | 2025 Page171of227 |
|---|
| 3682 | | - | (5)thenameandaddressofeachincorporator; |
|---|
| 3683 | | - | (6)oneormoreclassesofsharesthattogetherhaveunlimitedvoting |
|---|
| 3684 | | - | rights;and |
|---|
| 3685 | | - | (7)oneormoreclassesofshares,(whichmaybethesameclassor |
|---|
| 3686 | | - | classesasthosewithvotingrights),thattogetherareentitledtoreceivethenet |
|---|
| 3687 | | - | assetsofthecorporationupondissolution. |
|---|
| 3688 | | - | (b)Thearticlesofincorporationmaysetforth: |
|---|
| 3689 | | - | (1)thenamesandaddressesoftheindividualswhoaretoserveasthe |
|---|
| 3690 | | - | initialboardofdirectors,andofanyotherprincipalsthecorporationprovides; |
|---|
| 3691 | | - | (2)provisionsnotinconsistentwithlawregarding: |
|---|
| 3692 | | - | *** |
|---|
| 3693 | | - | Sec.10.11AV.S.A.chapter4isamendedtoread: |
|---|
| 3694 | | - | CHAPTER4.NAME |
|---|
| 3695 | | - | §4.01.CORPORATEHEADNAME |
|---|
| 3696 | | - | (a)Acorporatename: |
|---|
| 3697 | | - | (1)shallcontaintheword“corporation,”“incorporated,”“company,” |
|---|
| 3698 | | - | or“limited,”ortheabbreviation“corp.,”“inc.,”“co.,”or“ltd.,”orwords |
|---|
| 3699 | | - | orabbreviationsoflikeimportinanotherlanguage; |
|---|
| 3700 | | - | (2)maynotcontainlanguagestatingorimplyingthatthecorporationis |
|---|
| 3701 | | - | organizedforapurposeotherthanthatpermittedbysection3.01ofthistitle |
|---|
| 3702 | | - | anditsarticlesofincorporation; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3703 | | - | 2025 Page172of227 |
|---|
| 3704 | | - | (3)shallnothavetheword“cooperative”oranyabbreviationthereofas |
|---|
| 3705 | | - | partofitsnameunlessthecorporationisaworkercooperativecorporation |
|---|
| 3706 | | - | organizedunder11V.S.A.chapter8,ahousingcooperativecorporation |
|---|
| 3707 | | - | organizedunder11V.S.A.chapter14,orthearticlesofincorporationcontain |
|---|
| 3708 | | - | alloftheprovisionsrequiredofacorporationorganizedasacooperative |
|---|
| 3709 | | - | associationgeneralcooperativecorporationin11V.S.A.§981;and |
|---|
| 3710 | | - | (4)shallnotincludeanywordnototherwiseauthorizedbylaw. |
|---|
| 3711 | | - | *** |
|---|
| 3712 | | - | §4.02.RESERVEDNAME |
|---|
| 3713 | | - | (a)Apersonmayreservetheexclusiveuseofacorporatename,includinga |
|---|
| 3714 | | - | fictitiousnameforaforeigncorporationwhosecorporatenameisnot |
|---|
| 3715 | | - | available,bydeliveringanapplicationtotheSecretaryofStateforfiling.The |
|---|
| 3716 | | - | applicationmustsetforththenameandaddressoftheapplicantandthename |
|---|
| 3717 | | - | proposedtobereserved.IftheSecretaryofStatefindsthatthecorporatename |
|---|
| 3718 | | - | appliedforisavailable,heorsheshallreservethenamefortheapplicant’s |
|---|
| 3719 | | - | exclusiveusefora120-dayperiod.Such120-dayperiodmayberenewedno |
|---|
| 3720 | | - | morethantwice. |
|---|
| 3721 | | - | (b)Theownerofareservedcorporatenamemaytransferthereservationto |
|---|
| 3722 | | - | anotherpersonbydeliveringtotheSecretaryofStateasignednoticeofthe |
|---|
| 3723 | | - | transferthatstatesthenameandaddressofthetransfereeApersonmay BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3724 | | - | 2025 Page173of227 |
|---|
| 3725 | | - | reservetheexclusiveuseofabusinessnamebydeliveringanapplicationtothe |
|---|
| 3726 | | - | SecretaryofStateforfilingpursuantto11V.S.A.§1652. |
|---|
| 3727 | | - | §4.03.REGISTEREDNAME |
|---|
| 3728 | | - | (a)Aforeigncorporationmayregisteritscorporatename,oritsalternate |
|---|
| 3729 | | - | nameorcorporatenamewithanyadditionrequiredbysection15.06ofthis |
|---|
| 3730 | | - | title,ifthenameisdistinguishableintherecordsoftheSecretaryofStatefrom |
|---|
| 3731 | | - | thecorporateorbusinessnamesthatarenotavailableundersection |
|---|
| 3732 | | - | 4.01(b)(3)ofthistitle. |
|---|
| 3733 | | - | (b)Aforeigncorporationregistersitscorporatename,oritsalternate |
|---|
| 3734 | | - | nameorcorporatenamewithanyadditionrequiredbysection15.06ofthis |
|---|
| 3735 | | - | title,bydeliveringtotheSecretaryofStateforfilinganapplication: |
|---|
| 3736 | | - | (1)settingforthitscorporatename,oritsalternatenameorcorporate |
|---|
| 3737 | | - | namewithanyadditionrequiredbysection15.06ofthistitle,thestateor |
|---|
| 3738 | | - | countryanddateofitsincorporation,andabriefdescriptionofthenatureof |
|---|
| 3739 | | - | thebusinessinwhichitisengaged;and |
|---|
| 3740 | | - | (2)accompaniedbyacertificateofgoodstandingoradocumentof |
|---|
| 3741 | | - | similarimportfromthestateorcountryofincorporation. |
|---|
| 3742 | | - | *** |
|---|
| 3743 | | - | Sec.11.11AV.S.A.chapter5isamendedtoread: |
|---|
| 3744 | | - | CHAPTER5.OFFICEANDAGENT |
|---|
| 3745 | | - | §5.01.REGISTEREDOFFICEANDREGISTEREDAGENTFOR BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3746 | | - | 2025 Page174of227 |
|---|
| 3747 | | - | SERVICEOFPROCESS |
|---|
| 3748 | | - | EachcorporationmustcontinuouslymaintaininthisState: |
|---|
| 3749 | | - | (1)aregisteredofficethatmaybethesameasanyofitsplacesof |
|---|
| 3750 | | - | business;and |
|---|
| 3751 | | - | (2)aregisteredagentforserviceofprocesspursuantto11V.S.A. |
|---|
| 3752 | | - | § 1655,whomaybe: |
|---|
| 3753 | | - | (A)anindividualwhoresidesinthisStateandwhosebusinessoffice |
|---|
| 3754 | | - | isidenticalwiththeregisteredoffice; |
|---|
| 3755 | | - | (B)adomesticcorporationornonprofitdomesticcorporationwhose |
|---|
| 3756 | | - | businessofficeisidenticalwiththeregisteredoffice;or |
|---|
| 3757 | | - | (C)aforeigncorporationornonprofitforeigncorporationauthorized |
|---|
| 3758 | | - | totransactbusinessinthisStatewhosebusinessofficeisidenticalwiththe |
|---|
| 3759 | | - | registeredoffice. |
|---|
| 3760 | | - | §5.02.CHANGEOFREGISTEREDOFFICEORREGISTEREDAGENT |
|---|
| 3761 | | - | FORSERVICEOFPROCESS |
|---|
| 3762 | | - | (a)Acorporationmaychangeitsregisteredofficeorregisteredagentfor |
|---|
| 3763 | | - | serviceofprocessinformationbydeliveringtotheSecretaryofStateforfiling |
|---|
| 3764 | | - | astatementofchangepursuantto11V.S.A.§1655.thatsetsforth: |
|---|
| 3765 | | - | (1)thenameofthecorporation; |
|---|
| 3766 | | - | (2)thestreetaddressofitscurrentregisteredoffice; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3767 | | - | 2025 Page175of227 |
|---|
| 3768 | | - | (3)ifthecurrentregisteredofficeistobechanged,thestreetaddressof |
|---|
| 3769 | | - | thenewregisteredoffice; |
|---|
| 3770 | | - | (4)thenameofitscurrentregisteredagent; |
|---|
| 3771 | | - | (5)ifthecurrentregisteredagentistobechanged,thenameofthenew |
|---|
| 3772 | | - | registeredagentandthenewagent’swrittenconsent(eitheronthestatement |
|---|
| 3773 | | - | orattachedtoit)totheappointment;and |
|---|
| 3774 | | - | (6)thatafterthechangeorchangesaremade,thestreetaddressesofits |
|---|
| 3775 | | - | registeredofficeandthebusinessofficeofitsregisteredagentwillbeidentical |
|---|
| 3776 | | - | (b)Ifaregisteredagentchangesthestreetaddressoftheagent’sbusiness |
|---|
| 3777 | | - | office,theagentmaychangethestreetaddressoftheregisteredofficeofany |
|---|
| 3778 | | - | corporationforwhichheorsheistheregisteredagentbynotifyingthe |
|---|
| 3779 | | - | corporationinwritingofthechangeandsigning(eithermanuallyorin |
|---|
| 3780 | | - | facsimile)anddeliveringtotheSecretaryofStateforfilingastatementthat |
|---|
| 3781 | | - | complieswiththerequirementsofsubsection(a)ofthissectionandrecitesthat |
|---|
| 3782 | | - | thecorporationhasbeennotifiedofthechange. |
|---|
| 3783 | | - | §5.03.RESIGNATIONOFREGISTEREDAGENT |
|---|
| 3784 | | - | (a)Aregisteredagentmayresignhisorheragencyappointmentbysigning |
|---|
| 3785 | | - | anddeliveringtotheSecretaryofStateforfiling,andthecorporationatits |
|---|
| 3786 | | - | registeredoffice,thesignedoriginalandtwoexactcopiesofastatementof |
|---|
| 3787 | | - | resignation.Thestatementmayincludeastatementthattheregisteredofficeis |
|---|
| 3788 | | - | alsodiscontinued. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3789 | | - | 2025 Page176of227 |
|---|
| 3790 | | - | (b)Afterfilingthestatement,theSecretaryofStateshallmailonecopyto |
|---|
| 3791 | | - | theregisteredoffice(ifnotdiscontinued)andtheothercopytothecorporation |
|---|
| 3792 | | - | atitsprincipaloffice. |
|---|
| 3793 | | - | (c)Theagencyappointmentisterminated,andtheregisteredoffice |
|---|
| 3794 | | - | discontinuedifsoprovided,onthe31stdayafterthedateonwhichthe |
|---|
| 3795 | | - | statementisfiledAregisteredagentforserviceofprocessmayresignasagent |
|---|
| 3796 | | - | byfilingastatementofresignationpursuantto11V.S.A.§1655. |
|---|
| 3797 | | - | §5.04.SERVICEONCORPORATION |
|---|
| 3798 | | - | (a)Thecorporation’sregisteredagentshallbeanagentofsuch |
|---|
| 3799 | | - | corporationuponwhomanyprocess,notice,ordemandrequiredorpermitted |
|---|
| 3800 | | - | bylawtobeserveduponthecorporationmaybeserved. |
|---|
| 3801 | | - | (b)Wheneveracorporationshallfailtoappointormaintainaregistered |
|---|
| 3802 | | - | agentinthisState,orwheneveritsregisteredagentcannotwithreasonable |
|---|
| 3803 | | - | diligencebefoundattheregisteredoffice,thentheSecretaryofStateshallbe |
|---|
| 3804 | | - | anagentofsuchcorporationuponwhomanysuchprocess,noticeordemand |
|---|
| 3805 | | - | maybeserved.ServiceontheSecretaryofStateofanysuchprocess,notice,or |
|---|
| 3806 | | - | demandshallbemadebydeliveringtoandleavingwithhimorher,orwith |
|---|
| 3807 | | - | anyclerkhavingchargeofthecorporationdepartmentofhisorheroffice, |
|---|
| 3808 | | - | duplicatecopiesofsuchprocess,notice,ordemand.Intheeventanysuch |
|---|
| 3809 | | - | process,notice,ordemandisservedontheSecretaryofState,heorsheshall |
|---|
| 3810 | | - | immediatelycauseoneofthecopiesthereoftobeforwardedbyregisteredor BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3811 | | - | 2025 Page177of227 |
|---|
| 3812 | | - | certifiedmail,returnreceiptrequested,addressedtothecorporationatits |
|---|
| 3813 | | - | registeredoffice. |
|---|
| 3814 | | - | (c)TheSecretaryofStateshallkeeparecordofallprocesses,notices,and |
|---|
| 3815 | | - | demandsservedupontheSecretaryunderthissection,andshallrecordtherein |
|---|
| 3816 | | - | thetimeofsuchserviceandtheSecretary’sactionwithreferencethereto. |
|---|
| 3817 | | - | (d)Nothinghereincontainedshalllimitoraffecttherighttoserveany |
|---|
| 3818 | | - | process,notice,ordemandrequiredorpermittedbylawtobeservedupona |
|---|
| 3819 | | - | corporationinanyothermannernoworhereafterpermittedbylaw,orbyrule |
|---|
| 3820 | | - | Acorporationissubjecttotheserviceofprocessprovisionsin11V.S.A.1656. |
|---|
| 3821 | | - | Sec.12.11AV.S.A.chapter14isamendedtoread: |
|---|
| 3822 | | - | CHAPTER14.DISSOLUTION |
|---|
| 3823 | | - | *** |
|---|
| 3824 | | - | §14.05.EFFECTOFDISSOLUTION |
|---|
| 3825 | | - | *** |
|---|
| 3826 | | - | (b)Dissolutionofacorporationdoesnot: |
|---|
| 3827 | | - | (1)transfertitletothecorporation’sproperty; |
|---|
| 3828 | | - | (2)preventtransferofitssharesorsecurities,althoughthe |
|---|
| 3829 | | - | authorizationtodissolvemayprovideforclosingthecorporation’sshare |
|---|
| 3830 | | - | transferrecords; |
|---|
| 3831 | | - | (3)subjectitsdirectorsorofficerstostandardsofconductdifferentfrom |
|---|
| 3832 | | - | thoseprescribedinchapter8ofthistitle; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3833 | | - | 2025 Page178of227 |
|---|
| 3834 | | - | (4)changequorumorvotingrequirementsforitsboardofdirectorsor |
|---|
| 3835 | | - | shareholders;changeprovisionsforselection,resignation,orremovalofits |
|---|
| 3836 | | - | directorsorofficersorboth;orchangeprovisionsforamendingitsbylaws; |
|---|
| 3837 | | - | (5)preventcommencementofaproceedingbyoragainstthe |
|---|
| 3838 | | - | corporationinitscorporatename; |
|---|
| 3839 | | - | (6)abateorsuspendaproceedingpendingbyoragainstthe |
|---|
| 3840 | | - | corporationontheeffectivedateofdissolution;or |
|---|
| 3841 | | - | (7)terminatetheauthorityoftheregisteredagentforserviceofprocess |
|---|
| 3842 | | - | ofthecorporation. |
|---|
| 3843 | | - | *** |
|---|
| 3844 | | - | §14.20.INVOLUNTARYTERMINATION |
|---|
| 3845 | | - | *** |
|---|
| 3846 | | - | (d)Involuntaryterminationofacorporationdoesnot: |
|---|
| 3847 | | - | (1)preventcommencementofaproceedingagainstthecorporationin |
|---|
| 3848 | | - | itscorporatename; |
|---|
| 3849 | | - | (2)abateorsuspendaproceedingpendingbyoragainstthe |
|---|
| 3850 | | - | corporationontheeffectivedateofinvoluntarytermination;or |
|---|
| 3851 | | - | (3)terminatetheauthorityoftheregisteredagentforserviceofprocess |
|---|
| 3852 | | - | ofthecorporation. |
|---|
| 3853 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3854 | | - | 2025 Page179of227 |
|---|
| 3855 | | - | Sec.13.11AV.S.A.chapter15isamendedtoread: |
|---|
| 3856 | | - | CHAPTER15.FOREIGNCORPORATIONS |
|---|
| 3857 | | - | *** |
|---|
| 3858 | | - | §15.03.APPLICATIONFORCERTIFICATEOFAUTHORITY |
|---|
| 3859 | | - | (a)Aforeigncorporationmayapplyforacertificateofauthorityto |
|---|
| 3860 | | - | transactbusinessinthisStatebydeliveringanapplicationandtheapplicable |
|---|
| 3861 | | - | filingfeetotheSecretaryofStateforfiling.Theapplicationmustsetforth: |
|---|
| 3862 | | - | (1)thenameoftheforeigncorporationor,ifitsnameisunavailablefor |
|---|
| 3863 | | - | useinthisState,acorporatenamethatsatisfiestherequirementsofsection |
|---|
| 3864 | | - | 15.06ofthistitle; |
|---|
| 3865 | | - | (2)thenameofthestateorcountryunderwhoselawitisincorporated; |
|---|
| 3866 | | - | (3)itsdateofincorporationandperiodofduration; |
|---|
| 3867 | | - | (4)thestreetaddressofitsprincipaloffice; |
|---|
| 3868 | | - | (5)theaddressofitsregisteredofficeinthisStateandthenameofits |
|---|
| 3869 | | - | registeredagentforserviceofprocessatthatoffice,pursuantto11V.S.A. |
|---|
| 3870 | | - | § 1655;and |
|---|
| 3871 | | - | (6)thenamesandusualbusinessaddressesofitscurrentdirectorsand |
|---|
| 3872 | | - | officers,andofanyotherprincipalsthecorporationprovides. |
|---|
| 3873 | | - | (b)Theforeigncorporationshalldeliverwiththecompletedapplicationa |
|---|
| 3874 | | - | certificateofgoodstanding(oradocumentofsimilarimport)duly BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3875 | | - | 2025 Page180of227 |
|---|
| 3876 | | - | authenticatedbytheSecretaryofStateorotherofficialhavingcustodyof |
|---|
| 3877 | | - | corporaterecordsinthestateorcountryunderwhoselawitisincorporated. |
|---|
| 3878 | | - | *** |
|---|
| 3879 | | - | §15.06.CORPORATENAMEOFFOREIGNCORPORATION |
|---|
| 3880 | | - | (a)Ifthecorporatenameofaforeigncorporationdoesnotsatisfythe |
|---|
| 3881 | | - | requirementsofsection4.01ofthistitle,theforeigncorporationtoobtainor |
|---|
| 3882 | | - | maintainacertificateofauthoritytotransactbusinessinthisState: |
|---|
| 3883 | | - | (1)mayaddtheword“corporation,”“incorporated,”“company,”or |
|---|
| 3884 | | - | “limited,”ortheabbreviation“corp.,”“inc.,”“co.,”or“ltd.,”toits |
|---|
| 3885 | | - | corporatenameforuseinthisState;or |
|---|
| 3886 | | - | (2)mayuseanavailabletradeadoptanalternatenametotransact |
|---|
| 3887 | | - | businessinthisStateifitscorporatenameisunavailableanditdeliverstothe |
|---|
| 3888 | | - | SecretaryofStateforfilingacopyoftheresolutionofitsboardofdirectors, |
|---|
| 3889 | | - | certifiedbyitssecretary,adoptingthetradealternatename. |
|---|
| 3890 | | - | (b)Exceptasauthorizedbysubsections(c)and(d)ofthissection,the |
|---|
| 3891 | | - | corporatename,includingatradeanalternatename,ofaforeigncorporation |
|---|
| 3892 | | - | shallbedistinguishableintherecordsoftheSecretaryofStatefromanyname |
|---|
| 3893 | | - | granted,registered,orreservedunderthischapter,orthenameofanyother |
|---|
| 3894 | | - | entity,whetherdomesticorforeign,thatisreserved,registered,orgrantedby |
|---|
| 3895 | | - | orwiththeSecretaryofState. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3896 | | - | 2025 Page181of227 |
|---|
| 3897 | | - | (c)AforeigncorporationmayapplytotheSecretaryofStatefor |
|---|
| 3898 | | - | authorizationtouseinthisStatethenameofanothercorporationincorporated |
|---|
| 3899 | | - | orauthorizedtotransactbusinessinthisStatethatisnotdistinguishableinthe |
|---|
| 3900 | | - | recordsfromoneormoreofthenamesdescribedinsubsection(b)ofthis |
|---|
| 3901 | | - | section,bysubmittingtotheSecretaryofStateasatisfactorywrittenform |
|---|
| 3902 | | - | indicatingtheothercorporation’sconsentandchangeofname. |
|---|
| 3903 | | - | (d)AforeigncorporationmayuseinthisStatethename,includingthe |
|---|
| 3904 | | - | tradealternatename,ofanotherdomesticorforeigncorporationthatisused |
|---|
| 3905 | | - | inthisStateiftheothercorporationisincorporatedorauthorizedtotransact |
|---|
| 3906 | | - | businessinthisStateandtheforeigncorporation: |
|---|
| 3907 | | - | (1)hasmergedwiththeothercorporation; |
|---|
| 3908 | | - | (2)hasbeenformedbyreorganizationoftheothercorporation;or |
|---|
| 3909 | | - | (3)hasacquiredallorsubstantiallyalloftheassets,includingthe |
|---|
| 3910 | | - | corporatename,oftheothercorporation. |
|---|
| 3911 | | - | *** |
|---|
| 3912 | | - | §15.07.REGISTEREDOFFICEANDREGISTEREDAGENTFOR |
|---|
| 3913 | | - | SERVICEOFPROCESSOFFOREIGNCORPORATION |
|---|
| 3914 | | - | EachforeigncorporationauthorizedtotransactbusinessinthisStatemust |
|---|
| 3915 | | - | continuouslymaintaininthisState: |
|---|
| 3916 | | - | (1)aregisteredofficethatmaybethesameasanyofitsplacesof |
|---|
| 3917 | | - | business;and BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3918 | | - | 2025 Page182of227 |
|---|
| 3919 | | - | (2)aregisteredagentforserviceofprocess,pursuantto11V.S.A. |
|---|
| 3920 | | - | § 1655,whomaybe: |
|---|
| 3921 | | - | (A)anindividualwhoresidesinthisStateandwhosebusinessoffice |
|---|
| 3922 | | - | isidenticalwiththeregisteredoffice; |
|---|
| 3923 | | - | (B)adomesticcorporationordomesticnot-for-profitcorporation |
|---|
| 3924 | | - | whosebusinessofficeisidenticalwiththeregisteredoffice;or |
|---|
| 3925 | | - | (C)aforeigncorporationorforeignnot-for-profitcorporation |
|---|
| 3926 | | - | authorizedtotransactbusinessinthisStatewhosebusinessofficeisidentical |
|---|
| 3927 | | - | withtheregisteredoffice. |
|---|
| 3928 | | - | §15.08.CHANGEOFREGISTEREDOFFICEORREGISTEREDAGENT |
|---|
| 3929 | | - | FORSERVICEOFPROCESSOFFOREIGNCORPORATION |
|---|
| 3930 | | - | (a)AforeigncorporationauthorizedtotransactbusinessinthisStatemay |
|---|
| 3931 | | - | changeitsregisteredofficeorregisteredagentforserviceofprocessby |
|---|
| 3932 | | - | deliveringtotheSecretaryofStateforfilingastatementofchangethatsets |
|---|
| 3933 | | - | forth: |
|---|
| 3934 | | - | (1)itsname; |
|---|
| 3935 | | - | (2)thestreetaddressofitscurrentregisteredoffice; |
|---|
| 3936 | | - | (3)ifthecurrentregisteredofficeistobechanged,thestreetaddressof |
|---|
| 3937 | | - | itsnewregisteredoffice; |
|---|
| 3938 | | - | (4)thenameofitscurrentregisteredagent; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3939 | | - | 2025 Page183of227 |
|---|
| 3940 | | - | (5)ifthecurrentregisteredagentistobechanged,thenameofitsnew |
|---|
| 3941 | | - | registeredagentandthenewagent’swrittenconsent(eitheronthestatement |
|---|
| 3942 | | - | orattachedtoit)totheappointment;and |
|---|
| 3943 | | - | (6)thatafterthechangeorchangesaremade,thestreetaddressesofits |
|---|
| 3944 | | - | registeredofficeandthebusinessofficeofitsregisteredagentwillbeidentical. |
|---|
| 3945 | | - | (b)Ifaregisteredagentchangesthestreetaddressofhisorherbusiness |
|---|
| 3946 | | - | office,heorshemaychangethestreetaddressoftheregisteredofficeofany |
|---|
| 3947 | | - | foreigncorporationforwhichheorsheistheregisteredagentbynotifyingthe |
|---|
| 3948 | | - | corporationinwritingofthechangeandsigning(eithermanuallyorin |
|---|
| 3949 | | - | facsimile)anddeliveringtotheSecretaryofStateforfilingastatementof |
|---|
| 3950 | | - | changethatcomplieswiththerequirementsofsubsection(a)ofthissection |
|---|
| 3951 | | - | andrecitesthatthecorporationhasbeennotifiedofthechangepursuantto |
|---|
| 3952 | | - | 11 V.S.A.§1655. |
|---|
| 3953 | | - | §15.09.RESIGNATIONOFREGISTEREDAGENTFORSERVICEOF |
|---|
| 3954 | | - | PROCESSOFFOREIGNCORPORATION |
|---|
| 3955 | | - | (a)Theregisteredagentofaforeigncorporationmayresignhisorher |
|---|
| 3956 | | - | agencyasagentbyfilingastatementofresignationpursuantto11V.S.A. |
|---|
| 3957 | | - | § 1655appointmentbysigninganddeliveringtotheSecretaryofStatefor |
|---|
| 3958 | | - | filingtheoriginalandtwoexactorconformedcopiesofastatementof |
|---|
| 3959 | | - | resignation.Thestatementofresignationmayincludeastatementthatthe |
|---|
| 3960 | | - | registeredofficeisalsodiscontinued. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3961 | | - | 2025 Page184of227 |
|---|
| 3962 | | - | (b)Afterfilingthestatement,theSecretaryofStateshallattachthefiling |
|---|
| 3963 | | - | receipttoonecopyandmailthecopyandreceipttotheregisteredofficeifnot |
|---|
| 3964 | | - | discontinued.TheSecretaryofStateshallmailtheothercopytotheforeign |
|---|
| 3965 | | - | corporationatitsprincipalofficeaddressshowninitsmostrecentannual |
|---|
| 3966 | | - | report. |
|---|
| 3967 | | - | (c)Theagencyappointmentisterminated,andtheregisteredoffice |
|---|
| 3968 | | - | discontinuedifsoprovided,onthe31stdayafterthedateonwhichthe |
|---|
| 3969 | | - | statementwasfiled. |
|---|
| 3970 | | - | §15.10.SERVICEOFPROCESSONFOREIGNCORPORATION |
|---|
| 3971 | | - | Serviceofprocessonaforeigncorporationisgovernedby12V.S.A. |
|---|
| 3972 | | - | subchapter6,chapter25andbytheVermontRulesofCivilProcedureA |
|---|
| 3973 | | - | foreigncorporationissubjecttotheserviceofprocessprovisionsin11V.S.A.§ |
|---|
| 3974 | | - | 1656. |
|---|
| 3975 | | - | *** |
|---|
| 3976 | | - | §15.30.INVOLUNTARYTERMINATION |
|---|
| 3977 | | - | (a)TheSecretaryofStateshallterminatethecertificateofauthorityofa |
|---|
| 3978 | | - | foreigncorporationif: |
|---|
| 3979 | | - | (1)theforeigncorporationfailstodeliveritsannualreporttothe |
|---|
| 3980 | | - | SecretaryofStateasrequiredbysection16.22ofthistitle; |
|---|
| 3981 | | - | (2)theforeigncorporationdoesnotpayanyfranchisetaxesorpenalties |
|---|
| 3982 | | - | imposedbythistitleorotherlaw; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 3983 | | - | 2025 Page185of227 |
|---|
| 3984 | | - | (3)theforeigncorporationiswithoutaregisteredagentforserviceof |
|---|
| 3985 | | - | processorregisteredofficeinthisState; |
|---|
| 3986 | | - | (4)theforeigncorporationfailstoinformtheSecretaryofStateunder |
|---|
| 3987 | | - | section15.08or15.09ofthistitlethatitsregisteredagentforserviceof |
|---|
| 3988 | | - | processorregisteredofficehaschanged; |
|---|
| 3989 | | - | (5)amaterialmisrepresentationisknowinglymadeinasigned |
|---|
| 3990 | | - | documentdeliveredtotheSecretaryofStateforfiling; |
|---|
| 3991 | | - | (6)theSecretaryofStatereceivesadulyauthenticatedcertificatefrom |
|---|
| 3992 | | - | theSecretaryofStateorotherofficialhavingcustodyofcorporationrecordsin |
|---|
| 3993 | | - | thestateorcountryunderwhoselawtheforeigncorporationisincorporated |
|---|
| 3994 | | - | statingthatithasbeendissolvedorterminatedordisappearedastheresultof |
|---|
| 3995 | | - | amerger; |
|---|
| 3996 | | - | (7)theforeigncorporationhasfailedtocomplywithsubdivision |
|---|
| 3997 | | - | 11.07(a)(3)ofthistitlerequiringittofilearticlesofmergerwhereitisthe |
|---|
| 3998 | | - | survivorofamergerwithadomesticcorporation;or |
|---|
| 3999 | | - | (8)theCommissionerofTaxesnotifiestheSecretaryofStatethata |
|---|
| 4000 | | - | foreigncorporationhasfailedtomakeareturn,topayatax,tofileabond,or |
|---|
| 4001 | | - | todoanyotheractrequiredtobedoneundertheprovisionsof32V.S.A. |
|---|
| 4002 | | - | chapter211. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4003 | | - | 2025 Page186of227 |
|---|
| 4004 | | - | (b)TheSecretaryofStateshallservetheforeigncorporationwithwritten |
|---|
| 4005 | | - | noticeofterminationofitscertificateofauthorityundersection15.10ofthis |
|---|
| 4006 | | - | title,settingouteachdeficiency. |
|---|
| 4007 | | - | (c)TheauthorityofaforeigncorporationtotransactbusinessinthisState |
|---|
| 4008 | | - | ceasesonthedateshownonthenoticeterminatingitscertificateofauthority. |
|---|
| 4009 | | - | Terminationofaforeigncorporation’scertificateofauthoritydoesnot |
|---|
| 4010 | | - | terminatetheauthorityoftheregisteredagentforserviceofprocessofthe |
|---|
| 4011 | | - | corporation. |
|---|
| 4012 | | - | (d)TheSecretaryofState’sterminationofaforeigncorporation’s |
|---|
| 4013 | | - | certificateofauthorityappointstheSecretaryofStatetheforeign |
|---|
| 4014 | | - | corporation’sagentforserviceofprocessinanyproceedingbasedonacause |
|---|
| 4015 | | - | ofactionthataroseduringthetimetheforeigncorporationwasauthorizedto |
|---|
| 4016 | | - | transactorwastransactingwithoutauthorizationbusinessinthisState. |
|---|
| 4017 | | - | ServiceofprocessontheSecretaryofStateunderthissubsectionisserviceon |
|---|
| 4018 | | - | theforeigncorporation.Uponreceiptofprocess,theSecretaryofStateshall |
|---|
| 4019 | | - | mailacopyoftheprocesstothesecretaryoftheforeigncorporationatits |
|---|
| 4020 | | - | principalofficeshowninitsmostrecentannualreportorinanysubsequent |
|---|
| 4021 | | - | communicationreceivedfromthecorporationstatingthecurrentmailing |
|---|
| 4022 | | - | addressofitsprincipaloffice,or,ifnoneisonfile,initsapplicationfora |
|---|
| 4023 | | - | certificateofauthority,orotherwiseperfectserviceundersection15.10ofthis |
|---|
| 4024 | | - | title. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4025 | | - | 2025 Page187of227 |
|---|
| 4026 | | - | (e)Iftheforeigncorporationcorrectseachgroundforterminationand |
|---|
| 4027 | | - | demonstratestothereasonablesatisfactionoftheSecretaryofStatethateach |
|---|
| 4028 | | - | groundcitedinthenoticeofterminationdoesnotexist,andpaystothe |
|---|
| 4029 | | - | SecretaryofStateareinstatementfeeof$25.00foreachyearitisdelinquent, |
|---|
| 4030 | | - | thesecretarymaycanceltheterminationandprepareacertificateof |
|---|
| 4031 | | - | reinstatement,filetheoriginalofthecertificate,andserveacopyonthe |
|---|
| 4032 | | - | corporationundersection15.10ofthistitle. |
|---|
| 4033 | | - | *** |
|---|
| 4034 | | - | Sec.14.11AV.S.A.chapter16isamendedtoread: |
|---|
| 4035 | | - | CHAPTER16.RECORDSANDREPORTS |
|---|
| 4036 | | - | *** |
|---|
| 4037 | | - | §16.22.ANNUALREPORTFORSECRETARYOFSTATE |
|---|
| 4038 | | - | (a)Eachdomesticcorporation,andeachforeigncorporationauthorizedto |
|---|
| 4039 | | - | transactbusinessinthisState,shalldelivertotheSecretaryofStateforfiling |
|---|
| 4040 | | - | anannualreportthatsetsforth: |
|---|
| 4041 | | - | (1)thenameofthecorporationandthestateorcountryunderwhose |
|---|
| 4042 | | - | lawitisincorporated; |
|---|
| 4043 | | - | (2)theaddressofitsregisteredofficeandthenameandemailofits |
|---|
| 4044 | | - | registeredagentforserviceofprocessatthatofficeinthisState; |
|---|
| 4045 | | - | *** BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4046 | | - | 2025 Page188of227 |
|---|
| 4047 | | - | (e)Listingthenameoftheregisteredagentandtheaddressoftheregistered |
|---|
| 4048 | | - | officedoesnoteffectuateachangeinsuchagentorofficeunlessthereport |
|---|
| 4049 | | - | alsocontainstherequirementsofsection5.02ofthistitleTheSecretaryof |
|---|
| 4050 | | - | Stateshallamenditsrecordstoreflectachange,ifspecifiedinthereport,to |
|---|
| 4051 | | - | thebusiness’spurpose,email,address,orprincipalinformation. |
|---|
| 4052 | | - | ***UpdatestoTitle11Blanguage*** |
|---|
| 4053 | | - | Sec.15.11BV.S.A.chapter1isamendedtoread: |
|---|
| 4054 | | - | CHAPTER1.GENERALPROVISIONS |
|---|
| 4055 | | - | *** |
|---|
| 4056 | | - | §1.21.FORMS |
|---|
| 4057 | | - | (a)TheSecretaryofStatemayprescribetheformorelectronicformatof |
|---|
| 4058 | | - | andfurnishonrequest,formsorspecificationsforformatsfor: |
|---|
| 4059 | | - | (1)anapplicationforacertificateofexistencegoodstanding; |
|---|
| 4060 | | - | (2)aforeigncorporation’sapplicationforacertificateofauthorityto |
|---|
| 4061 | | - | transactbusinessinthisState; |
|---|
| 4062 | | - | (3)aforeigncorporation’sapplicationforacertificateofwithdrawal; |
|---|
| 4063 | | - | and |
|---|
| 4064 | | - | (4)thebiennialreport. |
|---|
| 4065 | | - | (b)TheSecretaryofStatemayprescribeandfurnishonrequestformsfor |
|---|
| 4066 | | - | otherdocumentsrequiredorpermittedtobefiledbythistitlebuttheiruseis |
|---|
| 4067 | | - | notmandatory. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4068 | | - | 2025 Page189of227 |
|---|
| 4069 | | - | *** |
|---|
| 4070 | | - | Sec.16.11BV.S.A.chapter2isamendedtoread: |
|---|
| 4071 | | - | CHAPTER2.INCORPORATION |
|---|
| 4072 | | - | *** |
|---|
| 4073 | | - | §2.02.ARTICLESOFINCORPORATION |
|---|
| 4074 | | - | (a)Thearticlesofincorporationmustsetforth: |
|---|
| 4075 | | - | (1)aAcorporatenameforthecorporationthatsatisfiesthe |
|---|
| 4076 | | - | requirementsofsection4.01ofthistitle;. |
|---|
| 4077 | | - | (2)oneOneofthefollowingstatements: |
|---|
| 4078 | | - | (A)Thiscorporationisapublicbenefitcorporation. |
|---|
| 4079 | | - | (B)Thiscorporationisamutualbenefitcorporation. |
|---|
| 4080 | | - | (3)theThestreetaddressofthecorporation’sinitialregisteredoffice |
|---|
| 4081 | | - | andthenameandemailofitsinitialregisteredagentforserviceofprocessat |
|---|
| 4082 | | - | thatoffice,pursuantto11V.S.A.§1655;. |
|---|
| 4083 | | - | (4)theThenameandaddressofeachincorporator;. |
|---|
| 4084 | | - | (5)whetherWhetherornotthecorporationwillhavemembers;and. |
|---|
| 4085 | | - | (6)provisionsProvisionsnotinconsistentwithlawregardingthe |
|---|
| 4086 | | - | distributionofassetsondissolution. |
|---|
| 4087 | | - | (b)Thearticlesofincorporationmaysetforth: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4088 | | - | 2025 Page190of227 |
|---|
| 4089 | | - | (1)thepurposeorpurposesforwhichthecorporationisorganized, |
|---|
| 4090 | | - | whichmaybe,eitheraloneorincombinationwithotherpurposes,the |
|---|
| 4091 | | - | transactionofanylawfulactivity; |
|---|
| 4092 | | - | (2)thenamesandaddressesoftheindividualswhoaretoserveasthe |
|---|
| 4093 | | - | initialdirectors,andofanyotherprincipalsthecorporationprovides; |
|---|
| 4094 | | - | (3)provisionsnotinconsistentwithlawregarding: |
|---|
| 4095 | | - | (A)managingandregulatingtheaffairsofthecorporation; |
|---|
| 4096 | | - | (B)defining,limiting,andregulatingthepowersofthecorporation, |
|---|
| 4097 | | - | itsboardofdirectors,andmembers(oranyclassofmembers); |
|---|
| 4098 | | - | (C)thecharacteristics,qualifications,rights,limitations,and |
|---|
| 4099 | | - | obligationsattachingtoeachoranyclassofmembers;and |
|---|
| 4100 | | - | (4)anyprovisionthatunderthistitleisrequiredorpermittedtobeset |
|---|
| 4101 | | - | forthinthebylaws. |
|---|
| 4102 | | - | *** |
|---|
| 4103 | | - | Sec.17.11BV.S.A.chapter4isamendedtoread: |
|---|
| 4104 | | - | CHAPTER4.NAME |
|---|
| 4105 | | - | *** |
|---|
| 4106 | | - | §4.02.RESERVEDNAME |
|---|
| 4107 | | - | (a)Apersonmayreservetheexclusiveuseofacorporatename,includinga |
|---|
| 4108 | | - | fictitiousnameforaforeigncorporationwhosecorporatenameisnot |
|---|
| 4109 | | - | available,bydeliveringanapplicationtotheSecretaryofStateforfiling. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4110 | | - | 2025 Page191of227 |
|---|
| 4111 | | - | Uponfindingthatthecorporatenameappliedforisavailable,theSecretaryof |
|---|
| 4112 | | - | Stateshallreservethenamefortheapplicant’sexclusiveusefora120-day |
|---|
| 4113 | | - | period.Such120-dayperiodmayberenewednomorethantwice. |
|---|
| 4114 | | - | (b)Theownerofareservedcorporatenamemaytransferthereservationto |
|---|
| 4115 | | - | anotherpersonbydeliveringtotheSecretaryofStateasignednoticeofthe |
|---|
| 4116 | | - | transferthatstatesthenameandaddressofthetransfereeApersonmay |
|---|
| 4117 | | - | reservetheexclusiveuseofabusinessnamebydeliveringanapplicationtothe |
|---|
| 4118 | | - | SecretaryofStateforfilingpursuantto11V.S.A.§1652. |
|---|
| 4119 | | - | §4.03.REGISTEREDNAME |
|---|
| 4120 | | - | (a)Aforeigncorporationmayregisteritscorporatename,oritsalternate |
|---|
| 4121 | | - | nameorcorporatenamewithanyadditionrequiredbysection15.06ofthis |
|---|
| 4122 | | - | title,ifthenameisdistinguishableupontherecordsoftheSecretaryofState |
|---|
| 4123 | | - | from: |
|---|
| 4124 | | - | (1)thecorporatenameofanonprofitorbusinesscorporation |
|---|
| 4125 | | - | incorporatedorauthorizedtodobusinessinthisState;and |
|---|
| 4126 | | - | (2)acorporatenamereservedundersection4.02ofthistitleor11A |
|---|
| 4127 | | - | V.S.A.§4.02orregisteredunderthissection. |
|---|
| 4128 | | - | (b)Aforeigncorporationregistersitscorporatename,oritsalternate |
|---|
| 4129 | | - | namecorporatenamewithanyadditionrequiredbysection15.06ofthistitle, |
|---|
| 4130 | | - | bydeliveringtotheSecretaryofStateanapplication: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4131 | | - | 2025 Page192of227 |
|---|
| 4132 | | - | (1)settingforthitscorporatename,oritsalternatenameorcorporate |
|---|
| 4133 | | - | namewithanyadditionrequiredbysection15.06ofthistitle,thestateor |
|---|
| 4134 | | - | countryanddateofitsincorporation,andabriefdescriptionofthenatureof |
|---|
| 4135 | | - | theactivitiesinwhichitisengaged;and |
|---|
| 4136 | | - | (2)accompaniedbyacertificateofexistence(oradocumentofsimilar |
|---|
| 4137 | | - | import)fromthestateorcountryofincorporation. |
|---|
| 4138 | | - | *** |
|---|
| 4139 | | - | Sec.18.11BV.S.A.chapter5isamendedtoread: |
|---|
| 4140 | | - | CHAPTER5.OFFICEANDAGENT |
|---|
| 4141 | | - | §5.01.REGISTEREDOFFICEANDREGISTEREDAGENTFOR |
|---|
| 4142 | | - | SERVICEOFPROCESS |
|---|
| 4143 | | - | EachcorporationmustcontinuouslymaintaininthisState: |
|---|
| 4144 | | - | (1)aregisteredofficethatmaybethesameasanyofitsplacesof |
|---|
| 4145 | | - | business;and |
|---|
| 4146 | | - | (2)aregisteredagentforserviceofprocess,pursuantto11V.S.A. |
|---|
| 4147 | | - | § 1655,whosebusinessofficeisidenticalwiththeregisteredoffice. |
|---|
| 4148 | | - | §5.02.CHANGEOFREGISTEREDOFFICEORREGISTEREDAGENT |
|---|
| 4149 | | - | FORSERVICEOFPROCESS |
|---|
| 4150 | | - | (a)Acorporationmaychangeitsregisteredofficeorregisteredagentfor |
|---|
| 4151 | | - | serviceofprocessbydeliveringtotheSecretaryofStateforfilingastatement |
|---|
| 4152 | | - | ofchangepursuantto11V.S.A.§1655thatsetsforth: BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4153 | | - | 2025 Page193of227 |
|---|
| 4154 | | - | (1)thenameofthecorporation; |
|---|
| 4155 | | - | (2)thestreetaddressofitscurrentregisteredoffice; |
|---|
| 4156 | | - | (3)ifthecurrentregisteredofficeistobechanged,thestreetaddressof |
|---|
| 4157 | | - | thenewregisteredoffice; |
|---|
| 4158 | | - | (4)thenameofitscurrentregisteredagent; |
|---|
| 4159 | | - | (5)ifthecurrentregisteredagentistobechanged,thenameofthenew |
|---|
| 4160 | | - | registeredagentandthenewagent’swrittenconsent(eitheronthestatement |
|---|
| 4161 | | - | orattachedtoit)totheappointment;and |
|---|
| 4162 | | - | (6)thatafterthechangeorchangesaremade,thestreetaddressesofits |
|---|
| 4163 | | - | registeredofficeandtheofficeofitsregisteredagentwillbeidentical |
|---|
| 4164 | | - | (b)Ifthestreetaddressofaregisteredagent’sofficeischanged,the |
|---|
| 4165 | | - | registeredagentmaychangethestreetaddressoftheregisteredofficeofany |
|---|
| 4166 | | - | corporationforwhichtheregisteredagentistheregisteredagentbynotifying |
|---|
| 4167 | | - | thecorporationinwritingofthechangeandbysigning(eithermanuallyorin |
|---|
| 4168 | | - | facsimile)anddeliveringtotheSecretaryofStateforfilingastatementthat |
|---|
| 4169 | | - | complieswiththerequirementsofsubsection(a)ofthissectionandrecitesthat |
|---|
| 4170 | | - | thecorporationhasbeennotifiedofthechange. |
|---|
| 4171 | | - | §5.03.RESIGNATIONOFREGISTEREDAGENTFORSERVICEOF |
|---|
| 4172 | | - | PROCESS |
|---|
| 4173 | | - | (a)Aregisteredagentmayresignasregisteredagentbysigningand |
|---|
| 4174 | | - | deliveringtotheSecretaryofStateastatementofresignationpursuantto BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4175 | | - | 2025 Page194of227 |
|---|
| 4176 | | - | 11 V.S.A.§1655theoriginalandtwoexactorconformedcopiesofastatement |
|---|
| 4177 | | - | ofresignation.Thestatementmayincludeastatementthattheregisteredoffice |
|---|
| 4178 | | - | isalsodiscontinued. |
|---|
| 4179 | | - | (b)Afterfilingthestatement,theSecretaryofStateshallmailonecopyto |
|---|
| 4180 | | - | theregisteredoffice(ifnotdiscontinued)andtheothercopytothecorporation |
|---|
| 4181 | | - | atitsprincipalofficeasshowninthemostrecentbiennialreportfiledpursuant |
|---|
| 4182 | | - | tosection16.22ofthistitle. |
|---|
| 4183 | | - | (c)Theagencyappointmentisterminated,andtheregisteredoffice |
|---|
| 4184 | | - | discontinuedifsoprovided,onthe31stdayafterthedateonwhichthe |
|---|
| 4185 | | - | statementisfiled. |
|---|
| 4186 | | - | §5.04.SERVICEONCORPORATION |
|---|
| 4187 | | - | (a)Thecorporation’sregisteredagentshallbeanagentofsuch |
|---|
| 4188 | | - | corporationuponwhomanyprocess,notice,ordemandrequiredorpermitted |
|---|
| 4189 | | - | bylawtobeserveduponthecorporationmaybeserved |
|---|
| 4190 | | - | (b)Wheneveracorporationshallfailtoappointormaintainaregistered |
|---|
| 4191 | | - | agentinthisState,orwheneveritsregisteredagentcannotwithreasonable |
|---|
| 4192 | | - | diligencebefoundattheregisteredoffice,thentheSecretaryofStateshallbe |
|---|
| 4193 | | - | anagentofsuchcorporationuponwhomanysuchprocess,notice,ordemand |
|---|
| 4194 | | - | maybeserved.ServiceontheSecretaryofStateofanysuchprocess,notice,or |
|---|
| 4195 | | - | demandshallbemadebydeliveringtoandleavingwithhimorher,orwith |
|---|
| 4196 | | - | anyclerkhavingchargeofthecorporationdepartmentofhisorheroffice, BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4197 | | - | 2025 Page195of227 |
|---|
| 4198 | | - | duplicatecopiesofsuchprocess,notice,ordemand.Intheeventanysuch |
|---|
| 4199 | | - | process,notice,ordemandisservedontheSecretaryofState,heorsheshall |
|---|
| 4200 | | - | immediatelycauseoneofthecopiesthereoftobeforwardedbyregisteredor |
|---|
| 4201 | | - | certifiedmail,returnreceiptrequested,addressedtothecorporationatits |
|---|
| 4202 | | - | registeredoffice. |
|---|
| 4203 | | - | (c)TheSecretaryofStateshallkeeparecordofallprocesses,notices,and |
|---|
| 4204 | | - | demandsservedupontheSecretaryunderthissection,andshallrecordtherein |
|---|
| 4205 | | - | thetimeofsuchserviceandtheSecretary’sactionwithreferencethereto. |
|---|
| 4206 | | - | (d)Nothinghereincontainedshalllimitoraffecttherighttoserveany |
|---|
| 4207 | | - | process,notice,ordemandrequiredorpermittedbylawtobeservedupona |
|---|
| 4208 | | - | corporationinanyothermannernoworhereafterpermittedbylaw,orbyrule |
|---|
| 4209 | | - | Acorporationissubjecttotheserviceofprocessprovisionsin11V.S.A. |
|---|
| 4210 | | - | § 1656. |
|---|
| 4211 | | - | Sec.19.11BV.S.A.chapter14isamendedtoread: |
|---|
| 4212 | | - | CHAPTER14.DISSOLUTION |
|---|
| 4213 | | - | *** |
|---|
| 4214 | | - | §14.05.EFFECTOFDISSOLUTION |
|---|
| 4215 | | - | *** |
|---|
| 4216 | | - | (b)Dissolutionofacorporationdoesnot: |
|---|
| 4217 | | - | (1)transfertitletothecorporation’sproperty; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4218 | | - | 2025 Page196of227 |
|---|
| 4219 | | - | (2)subjectitsdirectorsorofficerstostandardsofconductdifferentfrom |
|---|
| 4220 | | - | thoseprescribedinchapter8ofthistitle; |
|---|
| 4221 | | - | (3)changequorumorvotingrequirementsforitsboardormembers; |
|---|
| 4222 | | - | changeprovisionsforselection,resignation,orremovalofitsdirectorsor |
|---|
| 4223 | | - | officersorboth;orchangeprovisionsforamendingitsbylaws; |
|---|
| 4224 | | - | (4)preventcommencementofaproceedingbyoragainstthe |
|---|
| 4225 | | - | corporationinitscorporatename; |
|---|
| 4226 | | - | (5)abateorsuspendaproceedingpendingbyoragainstthe |
|---|
| 4227 | | - | corporationontheeffectivedateofdissolution;or |
|---|
| 4228 | | - | (6)terminatetheauthorityoftheregisteredagentforserviceofprocess. |
|---|
| 4229 | | - | *** |
|---|
| 4230 | | - | §14.20.INVOLUNTARYTERMINATION |
|---|
| 4231 | | - | TheSecretaryofStatemaycommenceaproceedingundersection14.21of |
|---|
| 4232 | | - | thistitletoadministrativelydissolveacorporationif: |
|---|
| 4233 | | - | (1)thecorporationdoesnotpaywithin60daysaftertheyareduefees |
|---|
| 4234 | | - | imposedbythistitle; |
|---|
| 4235 | | - | (2)thecorporationdoesnotdeliveritsbiennialreporttotheSecretary |
|---|
| 4236 | | - | ofStatewithin60daysafteritisdue; |
|---|
| 4237 | | - | (3)thecorporationiswithoutaregisteredagentforserviceofprocess |
|---|
| 4238 | | - | orregisteredofficeinthisStatefor60daysormore;or BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4239 | | - | 2025 Page197of227 |
|---|
| 4240 | | - | (4)thecorporationdoesnotnotifytheSecretaryofStatewithin120 |
|---|
| 4241 | | - | daysthatitsregisteredagentforserviceofprocessorregisteredofficehas |
|---|
| 4242 | | - | beenchanged,thatitsregisteredagentforserviceofprocesshasresigned,or |
|---|
| 4243 | | - | thatitsregisteredofficehasbeendiscontinued. |
|---|
| 4244 | | - | §14.21.PROCEDUREFORANDEFFECTOFINVOLUNTARY |
|---|
| 4245 | | - | TERMINATION |
|---|
| 4246 | | - | *** |
|---|
| 4247 | | - | (d)Theinvoluntarilyinvoluntarydissolutionofacorporationdoesnot |
|---|
| 4248 | | - | terminatetheauthorityofitsregisteredagentforserviceofprocess. |
|---|
| 4249 | | - | §14.22.REINSTATEMENTFOLLOWINGINVOLUNTARY |
|---|
| 4250 | | - | DISSOLUTION |
|---|
| 4251 | | - | (a)Acorporationinvoluntarilydissolvedthathasnotdistributeditsassets |
|---|
| 4252 | | - | undersection14.21ofthistitlemayapplytotheSecretaryofStatefor |
|---|
| 4253 | | - | reinstatementuponpaymentof$25.00foreachyearthecorporationis |
|---|
| 4254 | | - | delinquent.Theapplicationmust: |
|---|
| 4255 | | - | (1)recitethenameofthecorporationandtheeffectivedateofits |
|---|
| 4256 | | - | involuntarydissolution; |
|---|
| 4257 | | - | (2)statethatthegroundorgroundsfordissolutioneitherdidnotexist |
|---|
| 4258 | | - | orhavebeeneliminated;and |
|---|
| 4259 | | - | (3)statethatthecorporation’snamesatisfiestherequirementsof |
|---|
| 4260 | | - | section4.01ofthistitle. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4261 | | - | 2025 Page198of227 |
|---|
| 4262 | | - | *** |
|---|
| 4263 | | - | Sec.20.11BV.S.A.chapter15isamendedtoread: |
|---|
| 4264 | | - | CHAPTER15.FOREIGNCORPORATIONS |
|---|
| 4265 | | - | *** |
|---|
| 4266 | | - | §15.03.APPLICATIONFORCERTIFICATEOFAUTHORITY |
|---|
| 4267 | | - | (a)Aforeigncorporationmayapplyforacertificateofauthorityto |
|---|
| 4268 | | - | transactbusinessinthisStatebydeliveringanapplicationtotheSecretaryof |
|---|
| 4269 | | - | State.Theapplicationmustsetforth: |
|---|
| 4270 | | - | (1)thenameoftheforeigncorporationor,ifitsnameisunavailablefor |
|---|
| 4271 | | - | useinthisState,acorporatenamethatsatisfiestherequirementsofsection |
|---|
| 4272 | | - | 15.06ofthistitle; |
|---|
| 4273 | | - | (2)thenameofthestateorcountryunderwhoselawitisincorporated; |
|---|
| 4274 | | - | (3)thedateofincorporationandperiodofduration; |
|---|
| 4275 | | - | (4)thestreetaddressofitsprincipaloffice; |
|---|
| 4276 | | - | (5)theaddressofitsregisteredofficeinthisStateandthenameand |
|---|
| 4277 | | - | emailofitsregisteredagentforserviceofprocessatthatoffice; |
|---|
| 4278 | | - | (6)thenamesandusualbusinessorhomeaddressesofitscurrent |
|---|
| 4279 | | - | directorsandofficersandofanyotherprincipalsthecorporationprovides; |
|---|
| 4280 | | - | (7)whethertheforeigncorporationhasmembers;and |
|---|
| 4281 | | - | (8)whetherthecorporation,ifithadbeenincorporatedinthisState, |
|---|
| 4282 | | - | wouldbeapublicbenefitormutualbenefitcorporation. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4283 | | - | 2025 Page199of227 |
|---|
| 4284 | | - | (b)Theforeigncorporationshalldeliverwiththecompletedapplicationa |
|---|
| 4285 | | - | certificateofexistence,(oradocumentofsimilarimport),dulyauthenticated |
|---|
| 4286 | | - | bytheSecretaryofStateorotherofficialhavingcustodyofcorporaterecords |
|---|
| 4287 | | - | inthestateorcountryunderwhoselawitisincorporated. |
|---|
| 4288 | | - | *** |
|---|
| 4289 | | - | §15.06.CORPORATENAMEOFFOREIGNCORPORATION |
|---|
| 4290 | | - | (a)Ifthecorporatenameofaforeigncorporationdoesnotsatisfythe |
|---|
| 4291 | | - | requirementsofsection4.01ofthistitle,theforeigncorporationtoobtainor |
|---|
| 4292 | | - | maintainacertificateofauthoritytotransactbusinessinthisState: |
|---|
| 4293 | | - | (1)mayaddtheword“corporation,”“incorporated,”“company,”or |
|---|
| 4294 | | - | “limited,”ortheabbreviation“corp.,”“inc.,”“co.,”or“ltd.,”toits |
|---|
| 4295 | | - | corporatenameforuseinthisState;or |
|---|
| 4296 | | - | (2)mayuseanavailabletradeadoptanalternatenametotransact |
|---|
| 4297 | | - | businessinthisStateifitscorporatenameisunavailableanditdeliverstothe |
|---|
| 4298 | | - | SecretaryofStateforfilingacopyoftheresolutionofitsboardofdirectors, |
|---|
| 4299 | | - | certifiedbyitssecretary,adoptingthetradealternatename. |
|---|
| 4300 | | - | (b)Exceptasauthorizedbysubsections(c)and(d)ofthissection,the |
|---|
| 4301 | | - | corporatename,(includingatradeanalternatename,)ofaforeign |
|---|
| 4302 | | - | corporationmustbedistinguishableupontherecordsoftheSecretaryofState |
|---|
| 4303 | | - | fromreservedorregisteredtradenamesorcorporatenames. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4304 | | - | 2025 Page200of227 |
|---|
| 4305 | | - | (c)AforeigncorporationmayapplytotheSecretaryofStatefor |
|---|
| 4306 | | - | authorizationtouseinthisStatethenameofanothercorporationincorporated |
|---|
| 4307 | | - | orauthorizedtotransactbusinessinthisStatethatisnotdistinguishableupon |
|---|
| 4308 | | - | therecordsfromthenameappliedforbysubmittingtotheSecretaryofStatea |
|---|
| 4309 | | - | satisfactorywrittenformindicatingtheothercorporation’sconsentand |
|---|
| 4310 | | - | changeofname. |
|---|
| 4311 | | - | (d)AforeigncorporationmayuseinthisStatethename,(includingthe |
|---|
| 4312 | | - | tradealternatename,)ofanotherdomesticorforeigncorporationthatisused |
|---|
| 4313 | | - | inthisStateiftheothercorporationisincorporatedorauthorizedtotransact |
|---|
| 4314 | | - | businessinthisStateandtheforeigncorporation: |
|---|
| 4315 | | - | *** |
|---|
| 4316 | | - | §15.07.REGISTEREDOFFICEANDREGISTEREDAGENTFOR |
|---|
| 4317 | | - | SERVICEOFPROCESSOFFOREIGNCORPORATION |
|---|
| 4318 | | - | EachforeigncorporationauthorizedtotransactbusinessinthisStatemust |
|---|
| 4319 | | - | continuouslymaintaininthisState: |
|---|
| 4320 | | - | (1)aregisteredofficewiththesameaddressasthatofitsregistered |
|---|
| 4321 | | - | agentforserviceofprocess;and |
|---|
| 4322 | | - | (2)aregisteredagentforserviceofprocess,whomaybe: |
|---|
| 4323 | | - | (A)anindividualwhoresidesinthisStateandwhoseofficeis |
|---|
| 4324 | | - | identicalwiththeregisteredoffice; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4325 | | - | 2025 Page201of227 |
|---|
| 4326 | | - | (B)adomesticbusinessornonprofitcorporationwhoseofficeis |
|---|
| 4327 | | - | identicalwiththeregisteredoffice;or |
|---|
| 4328 | | - | (C)aforeignbusinessornonprofitcorporationauthorizedtotrans- |
|---|
| 4329 | | - | actbusinessinthisStatewhoseofficeisidenticalwiththeregisteredoffice |
|---|
| 4330 | | - | pursuantto11V.S.A.§1655. |
|---|
| 4331 | | - | §15.08.CHANGEOFREGISTEREDOFFICEORREGISTEREDAGENT |
|---|
| 4332 | | - | FORSERVICEOFPROCESSOFFOREIGNCORPORATION |
|---|
| 4333 | | - | (a)AforeigncorporationauthorizedtotransactbusinessinthisStatemay |
|---|
| 4334 | | - | changeitsregisteredofficeorregisteredagentforserviceofprocessby |
|---|
| 4335 | | - | deliveringtotheSecretaryofStateforfilingastatementofchangethatsets |
|---|
| 4336 | | - | forth: |
|---|
| 4337 | | - | (1)itsname; |
|---|
| 4338 | | - | (2)thestreetaddressofitscurrentregisteredoffice; |
|---|
| 4339 | | - | (3)ifthecurrentregisteredofficeistobechanged,thestreetaddressof |
|---|
| 4340 | | - | itsnewregisteredoffice; |
|---|
| 4341 | | - | (4)thenameofitscurrentregisteredagent; |
|---|
| 4342 | | - | (5)ifthecurrentregisteredagentistobechanged,thenameofitsnew |
|---|
| 4343 | | - | registeredagentandthenewagent’swrittenconsent(eitheronthestatement |
|---|
| 4344 | | - | orattachedtoit)totheappointment;and |
|---|
| 4345 | | - | (6)thatafterthechangeorchangesaremade,thestreetaddressesofits |
|---|
| 4346 | | - | registeredofficeandtheofficeofitsregisteredagentwillbeidentical. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4347 | | - | 2025 Page202of227 |
|---|
| 4348 | | - | (b)Ifaregisteredagentchangesthestreetaddressofitsbusinessoffice,the |
|---|
| 4349 | | - | agentmaychangetheaddressoftheregisteredofficeofanyforeign |
|---|
| 4350 | | - | corporationforwhichtheagentistheregisteredagentbynotifyingthe |
|---|
| 4351 | | - | corporationinwritingofthechangeandsigning(eithermanuallyorin |
|---|
| 4352 | | - | facsimile)anddeliveringtotheSecretaryofStateforfilingastatementof |
|---|
| 4353 | | - | changethatcomplieswiththerequirementsofsubsection(a)ofthissection |
|---|
| 4354 | | - | andrecitesthatthecorporationhasbeennotifiedofthechangepursuantto |
|---|
| 4355 | | - | 11 V.S.A.§1655. |
|---|
| 4356 | | - | §15.09.RESIGNATIONOFREGISTEREDAGENTOFFOREIGN |
|---|
| 4357 | | - | CORPORATION |
|---|
| 4358 | | - | (a)Theregisteredagentofaforeigncorporationmayresignasagentby |
|---|
| 4359 | | - | signinganddeliveringtotheSecretaryofStateforfilingastatementof |
|---|
| 4360 | | - | resignationpursuantto11V.S.A.§1655theoriginalandtwoexactor |
|---|
| 4361 | | - | conformedcopiesofastatementofresignation.Thestatementofresignation |
|---|
| 4362 | | - | mayincludeastatementthattheregisteredofficeisalsodiscontinued. |
|---|
| 4363 | | - | (b)Afterfilingthestatement,theSecretaryofStateshallattachthefiling |
|---|
| 4364 | | - | receipttoonecopyandmailthecopyandreceipttotheregisteredofficeifnot |
|---|
| 4365 | | - | discontinued.TheSecretaryofStateshallmailtheothercopytotheforeign |
|---|
| 4366 | | - | corporationatitsprincipalofficeaddressshowninitsmostrecentbiennial |
|---|
| 4367 | | - | report. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4368 | | - | 2025 Page203of227 |
|---|
| 4369 | | - | (c)Theagencyisterminated,andtheregisteredofficediscontinuedifso |
|---|
| 4370 | | - | provided,onthe31stdayafterthedateonwhichthestatementwasfiled. |
|---|
| 4371 | | - | §15.10.SERVICEONFOREIGNCORPORATION |
|---|
| 4372 | | - | (a)Theregisteredagentofaforeigncorporationauthorizedtotransact |
|---|
| 4373 | | - | businessinthisStateisthecorporation’sagentforserviceofprocess,notice, |
|---|
| 4374 | | - | ordemandrequiredorpermittedbylawtobeservedontheforeign |
|---|
| 4375 | | - | corporation. |
|---|
| 4376 | | - | (b)Aforeigncorporationmaybeservedbyregisteredorcertifiedmail, |
|---|
| 4377 | | - | returnreceiptrequested,addressedtothesecretaryoftheforeigncorporation |
|---|
| 4378 | | - | atitsprincipalofficeshowninitsapplicationforacertificateofauthorityor |
|---|
| 4379 | | - | initsmostrecentbiennialreportfiledundersection16.22ofthistitleifthe |
|---|
| 4380 | | - | foreigncorporation: |
|---|
| 4381 | | - | (1)hasnoregisteredagentoritsregisteredagentcannotwithreasonable |
|---|
| 4382 | | - | diligencebeserved; |
|---|
| 4383 | | - | (2)haswithdrawnfromtransactingbusinessinthisStateundersection |
|---|
| 4384 | | - | 15.20ofthistitle;or |
|---|
| 4385 | | - | (3)hashaditscertificateofauthorityrevokedundersection15.31ofthis |
|---|
| 4386 | | - | title. |
|---|
| 4387 | | - | (c)Serviceisperfectedundersubsection(b)ofthissectionattheearliest |
|---|
| 4388 | | - | of: |
|---|
| 4389 | | - | (1)thedatetheforeigncorporationreceivesthemail; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4390 | | - | 2025 Page204of227 |
|---|
| 4391 | | - | (2)thedateshownonthereturnreceipt,ifsignedonbehalfofthe |
|---|
| 4392 | | - | foreigncorporation;or |
|---|
| 4393 | | - | (3)fivedaysafteritsdepositintheU.S.mail,asevidencedbythe |
|---|
| 4394 | | - | postmarkifmailedpostpaidandcorrectlyaddressed. |
|---|
| 4395 | | - | (d)Thissectiondoesnotprescribetheonlymeans,ornecessarilythe |
|---|
| 4396 | | - | requiredmeans,ofservingaforeigncorporationAforeigncorporationis |
|---|
| 4397 | | - | subjecttotheserviceofprocessprovisionsin11V.S.A.§1656. |
|---|
| 4398 | | - | §15.20.WITHDRAWALOFFOREIGNCORPORATION |
|---|
| 4399 | | - | *** |
|---|
| 4400 | | - | (b)AforeigncorporationauthorizedtotransactbusinessinthisStatemay |
|---|
| 4401 | | - | applyforacertificateofwithdrawalbydeliveringanapplicationtothe |
|---|
| 4402 | | - | SecretaryofStateforfiling.Theapplicationmustsetforth: |
|---|
| 4403 | | - | (1)thenameoftheforeigncorporationandthenameofthestateor |
|---|
| 4404 | | - | countryunderwhoselawitisincorporated; |
|---|
| 4405 | | - | (2)thatitisnottransactingbusinessinthisStateandthatitsurrenders |
|---|
| 4406 | | - | itsauthoritytotransactbusinessinthisState; |
|---|
| 4407 | | - | (3)thatitrevokestheauthorityofitsregisteredagentforserviceof |
|---|
| 4408 | | - | processtoacceptserviceonitsbehalfandappointstheSecretaryofStateasits |
|---|
| 4409 | | - | agentforserviceofprocessinanyproceedingbasedonacauseofaction |
|---|
| 4410 | | - | arisingduringthetimeitwasauthorizedtodobusinessinthisState; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4411 | | - | 2025 Page205of227 |
|---|
| 4412 | | - | (4)amailingaddresstowhichtheSecretaryofStatemaymailacopyof |
|---|
| 4413 | | - | anyprocessservedonhimorherundersubdivision(3)ofthissubsection;and |
|---|
| 4414 | | - | (5)acommitmenttonotifytheSecretaryofStateinthefutureofany |
|---|
| 4415 | | - | changeinthemailingaddress. |
|---|
| 4416 | | - | *** |
|---|
| 4417 | | - | §15.30.INVOLUNTARYTERMINATION |
|---|
| 4418 | | - | (a)TheSecretaryofStateshallterminatethecertificateofauthorityofa |
|---|
| 4419 | | - | foreigncorporationif: |
|---|
| 4420 | | - | (1)theforeigncorporationfailstodeliveritsbiennialreporttothe |
|---|
| 4421 | | - | SecretaryofStateasrequiredbysection16.22ofthistitle; |
|---|
| 4422 | | - | (2)theforeigncorporationdoesnotpayanypenaltiesimposedbythis |
|---|
| 4423 | | - | titleorotherlaw; |
|---|
| 4424 | | - | (3)theforeigncorporationiswithoutaregisteredagentforserviceof |
|---|
| 4425 | | - | processorregisteredofficeinthisState; |
|---|
| 4426 | | - | (4)theforeigncorporationfailstoinformtheSecretaryofStateunder |
|---|
| 4427 | | - | section15.08or15.09ofthistitlethatitsregisteredagentforserviceof |
|---|
| 4428 | | - | processorregisteredofficehaschanged; |
|---|
| 4429 | | - | (5)amaterialmisrepresentationisknowinglymadeinasigned |
|---|
| 4430 | | - | documentdeliveredtotheSecretaryofStateforfiling; |
|---|
| 4431 | | - | (6)theSecretaryofStatereceivesadulyauthenticatedcertificatefrom |
|---|
| 4432 | | - | thesecretaryofstateorotherofficialhavingcustodyofcorporationrecordsin BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4433 | | - | 2025 Page206of227 |
|---|
| 4434 | | - | thestateorcountryunderwhoselawtheforeigncorporationisincorporated |
|---|
| 4435 | | - | statingthatithasbeendissolvedorterminatedordisappearedastheresultof |
|---|
| 4436 | | - | amerger;or |
|---|
| 4437 | | - | (7)theforeigncorporationhasfailedtocomplywithsubdivision |
|---|
| 4438 | | - | 11.07(a)ofthistitlerequiringittofilearticlesofmergerwhereitisthe |
|---|
| 4439 | | - | survivorofamergerwithadomesticcorporation. |
|---|
| 4440 | | - | (b)TheSecretaryofStateshallservetheforeigncorporationwithwritten |
|---|
| 4441 | | - | noticeofterminationofitscertificateofauthorityundersection15.10ofthis |
|---|
| 4442 | | - | title,settingouteachdeficiency. |
|---|
| 4443 | | - | (c)TheauthorityofaforeigncorporationtotransactbusinessinthisState |
|---|
| 4444 | | - | ceasesonthedateshownonthenoticeterminatingitscertificateofauthority. |
|---|
| 4445 | | - | Terminationofaforeigncorporation’scertificateofauthoritydoesnot |
|---|
| 4446 | | - | terminatetheauthorityoftheregisteredagentforserviceofprocessofthe |
|---|
| 4447 | | - | corporation. |
|---|
| 4448 | | - | (d)TheSecretaryofState’sterminationofaforeigncorporation’s |
|---|
| 4449 | | - | certificateofauthorityappointstheSecretaryofStatetheforeign |
|---|
| 4450 | | - | corporation’sagentforserviceofprocessinanyproceedingbasedonacause |
|---|
| 4451 | | - | ofactionthataroseduringthetimetheforeigncorporationwasauthorizedto |
|---|
| 4452 | | - | transactorwastransactingwithoutauthorizationbusinessinthisState. |
|---|
| 4453 | | - | ServiceofprocessontheSecretaryofStateunderthissubsectionisserviceon |
|---|
| 4454 | | - | theforeigncorporation.Uponreceiptofprocess,theSecretaryofStateshall BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4455 | | - | 2025 Page207of227 |
|---|
| 4456 | | - | mailacopyoftheprocesstothesecretaryoftheforeigncorporationatits |
|---|
| 4457 | | - | principalofficeshowninitsmostrecentbiennialreportorinanysubsequent |
|---|
| 4458 | | - | communicationreceivedfromthecorporationstatingthecurrentmailing |
|---|
| 4459 | | - | addressofitsprincipaloffice,or,ifnoneisonfile,initsapplicationfora |
|---|
| 4460 | | - | certificateofauthority,orotherwiseperfectserviceundersection15.10ofthis |
|---|
| 4461 | | - | title. |
|---|
| 4462 | | - | (e)Iftheforeigncorporationcorrectseachgroundforterminationand |
|---|
| 4463 | | - | demonstratestothereasonablesatisfactionoftheSecretaryofStatethateach |
|---|
| 4464 | | - | groundcitedinthenoticeofterminationdoesnotexist,andpaystothe |
|---|
| 4465 | | - | SecretaryofStateafeeof$25.00foreachyearitisdelinquent,theSecretary |
|---|
| 4466 | | - | maycanceltheterminationandprepareacertificateofreinstatement,filethe |
|---|
| 4467 | | - | originalofthecertificate,andserveacopyonthecorporationundersection |
|---|
| 4468 | | - | 15.10ofthistitle. |
|---|
| 4469 | | - | *** |
|---|
| 4470 | | - | Sec.21.11BV.S.A.chapter16isamendedtoread: |
|---|
| 4471 | | - | CHAPTER16.RECORDSANDREPORTS |
|---|
| 4472 | | - | *** |
|---|
| 4473 | | - | §16.22.BIENNIALREPORTFORSECRETARYOFSTATE |
|---|
| 4474 | | - | (a)Eachdomesticcorporation,andeachforeigncorporationauthorizedto |
|---|
| 4475 | | - | transactbusinessinthisState,shalldelivertotheSecretaryofStateabiennial BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4476 | | - | 2025 Page208of227 |
|---|
| 4477 | | - | reportonaformprescribedandfurnishedbytheSecretaryofStatethatsets |
|---|
| 4478 | | - | forth: |
|---|
| 4479 | | - | (1)thenameofthecorporationandthestateorcountryunderwhose |
|---|
| 4480 | | - | lawitisincorporated; |
|---|
| 4481 | | - | (2)theaddressofitsregisteredofficeandthenameandemailofits |
|---|
| 4482 | | - | registeredagentforserviceofprocessattheofficeinthisState; |
|---|
| 4483 | | - | (3)theaddressofitsprincipaloffice; |
|---|
| 4484 | | - | (4)thenamesandbusinessorresidenceaddressesofitsdirectorsand |
|---|
| 4485 | | - | principalofficers;and |
|---|
| 4486 | | - | (5)abriefdescriptionofthenatureofitsactivities. |
|---|
| 4487 | | - | (b)Theinformationinthebiennialreportmustbecurrentonthedatethe |
|---|
| 4488 | | - | biennialreportisexecutedonbehalfofthecorporation. |
|---|
| 4489 | | - | (c)ThefirstbiennialreportmustbedeliveredtotheSecretaryofState |
|---|
| 4490 | | - | betweenJanuary1andApril1oftheyearfollowingthecalendaryearin |
|---|
| 4491 | | - | whichadomesticcorporationwasincorporatedoraforeigncorporationwas |
|---|
| 4492 | | - | authorizedtotransactbusiness.Subsequentbiennialreportsmustbedelivered |
|---|
| 4493 | | - | totheSecretaryofStatebetweenJanuary1andApril1followingeach |
|---|
| 4494 | | - | succeedingtwocalendaryears. |
|---|
| 4495 | | - | (d)Ifabiennialreportdoesnotcontaintheinformationrequiredbythis |
|---|
| 4496 | | - | section,theSecretaryofStateshallpromptlynotifythereportingdomesticor |
|---|
| 4497 | | - | foreigncorporationinwritingandreturnthereporttoitforcorrection.Ifthe BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4498 | | - | 2025 Page209of227 |
|---|
| 4499 | | - | reportiscorrectedtocontaintheinformationrequiredbythissectionand |
|---|
| 4500 | | - | deliveredtotheSecretaryofStatewithin30daysaftertheeffectivedateof |
|---|
| 4501 | | - | notice,itisdeemedtobetimelyfiled. |
|---|
| 4502 | | - | (e)TheSecretaryofStateshallamenditsrecordstoreflectachange,if |
|---|
| 4503 | | - | specifiedinthereport,tothebusiness’spurpose,email,address,orprincipal |
|---|
| 4504 | | - | information. |
|---|
| 4505 | | - | ***UpdatestoTitle11Clanguage*** |
|---|
| 4506 | | - | Sec.22.11CV.S.A.chapter1isamendedtoread: |
|---|
| 4507 | | - | CHAPTER1.GENERALPROVISIONS |
|---|
| 4508 | | - | *** |
|---|
| 4509 | | - | §112.RESERVATIONOFNAME |
|---|
| 4510 | | - | (a)Apersonmayreservetheexclusiveuseofthenameofamutualbenefit |
|---|
| 4511 | | - | enterprise,includingafictitiousnameforaforeignenterprisewhosenameis |
|---|
| 4512 | | - | notavailableundersection111ofthistitle,bydeliveringanapplicationtothe |
|---|
| 4513 | | - | SecretaryofStateforfiling.Theapplicationshallsetforththenameand |
|---|
| 4514 | | - | addressoftheapplicantandthenameproposedtobereserved.IftheSecretary |
|---|
| 4515 | | - | ofStatefindsthatthenameappliedforisavailableundersection111ofthis |
|---|
| 4516 | | - | title,theSecretaryofStateshallreservethenamefortheapplicant’sexclusive |
|---|
| 4517 | | - | useforanonrenewableperiodof120days. |
|---|
| 4518 | | - | (b)Apersonwhohasreservedanameforamutualbenefitenterprisemay |
|---|
| 4519 | | - | transferthereservationtoanotherpersonbydeliveringtotheSecretaryof BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4520 | | - | 2025 Page210of227 |
|---|
| 4521 | | - | Stateasignednoticeofthetransferwhichstatesthename,streetaddress,and, |
|---|
| 4522 | | - | ifdifferent,themailingaddressofthetransferee.Ifthepersonisanorganizer |
|---|
| 4523 | | - | oftheenterpriseandthenameoftheenterpriseisthesameasthereserved |
|---|
| 4524 | | - | name,thedeliveryofarticlesoforganizationforfilingbytheSecretaryofState |
|---|
| 4525 | | - | isatransferbythepersontotheenterpriseApersonmayreservetheexclusive |
|---|
| 4526 | | - | useofabusinessnamebydeliveringanapplicationtotheSecretaryofState |
|---|
| 4527 | | - | forfilingpursuantto11V.S.A.§1652. |
|---|
| 4528 | | - | *** |
|---|
| 4529 | | - | §117.DESIGNATEDOFFICEANDAGENTFORSERVICEOFPROCESS |
|---|
| 4530 | | - | (a)Amutualbenefitenterpriseoraforeignenterprisethathasacertificate |
|---|
| 4531 | | - | ofauthorityundersection1404ofthistitleshalldesignateandcontinuously |
|---|
| 4532 | | - | maintaininthisState: |
|---|
| 4533 | | - | (1)anoffice,asitsdesignatedoffice,whichneednotbeaplaceofthe |
|---|
| 4534 | | - | enterprise’sorforeignenterprise’sactivityinthisState;and |
|---|
| 4535 | | - | (2)anagentforserviceofprocess,pursuantto11V.S.A.§1655,atthe |
|---|
| 4536 | | - | designatedoffice. |
|---|
| 4537 | | - | (b)Anagentforserviceofprocessofamutualbenefitenterpriseorforeign |
|---|
| 4538 | | - | enterpriseshallbeanindividualwhoisaresidentofthisStateoranentitythat |
|---|
| 4539 | | - | isauthorizedtodobusinessinthisState. |
|---|
| 4540 | | - | §118.CHANGEOFDESIGNATEDOFFICEORAGENTFORSERVICE |
|---|
| 4541 | | - | OFPROCESS BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4542 | | - | 2025 Page211of227 |
|---|
| 4543 | | - | (a)Exceptasotherwiseprovidedinsubsection207(e)ofthistitle,tochange |
|---|
| 4544 | | - | itsdesignatedoffice,itsagentforserviceofprocess,orthestreetaddressor,if |
|---|
| 4545 | | - | different,mailingaddressofitsprincipaloffice,amutualbenefitenterprise |
|---|
| 4546 | | - | shalldelivertotheSecretaryofStateforfilingastatementofchange |
|---|
| 4547 | | - | containing: |
|---|
| 4548 | | - | (1)thenameofthemutualbenefitenterprise; |
|---|
| 4549 | | - | (2)thestreetaddressand,ifdifferent,mailingaddressofitsdesignated |
|---|
| 4550 | | - | office; |
|---|
| 4551 | | - | (3)ifthedesignatedofficeistobechanged,thestreetaddressand,if |
|---|
| 4552 | | - | different,mailingaddressofthenewdesignatedoffice; |
|---|
| 4553 | | - | (4)thenameofitsagentforserviceofprocess;and |
|---|
| 4554 | | - | (5)iftheagentforserviceofprocessistobechanged,thenameofthe |
|---|
| 4555 | | - | newagent. |
|---|
| 4556 | | - | (b)Exceptasotherwiseprovidedinsubsection207(e)ofthistitle,tochange |
|---|
| 4557 | | - | itsagentforserviceofprocess,theaddressofitsdesignatedoffice,orthe |
|---|
| 4558 | | - | streetaddressor,ifdifferent,mailingaddressofitsprincipaloffice,aforeign |
|---|
| 4559 | | - | enterpriseshalldelivertotheSecretaryofStateforfilingastatementof |
|---|
| 4560 | | - | changecontaining: |
|---|
| 4561 | | - | (1)thenameoftheforeignenterprise; |
|---|
| 4562 | | - | (2)thename,streetaddress,and,ifdifferent,mailingaddressofits |
|---|
| 4563 | | - | designatedoffice; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4564 | | - | 2025 Page212of227 |
|---|
| 4565 | | - | (3)ifthecurrentagentforserviceofprocessoranaddressofthe |
|---|
| 4566 | | - | designatedofficeistobechanged,thenewinformation; |
|---|
| 4567 | | - | (4)thestreetaddressand,ifdifferent,themailingaddressofitsprincipal |
|---|
| 4568 | | - | office;and |
|---|
| 4569 | | - | (5)ifthestreetaddressor,ifdifferent,themailingaddressofits |
|---|
| 4570 | | - | principalofficeistobechanged,thestreetaddressand,ifdifferent,the |
|---|
| 4571 | | - | mailingaddressofthenewprincipaloffice. |
|---|
| 4572 | | - | (c)Exceptasotherwiseprovidedinsection204ofthistitle,astatementof |
|---|
| 4573 | | - | changeiseffectivewhenfiledbytheSecretaryofStateAmutualbenefit |
|---|
| 4574 | | - | enterpriseorforeignenterpriseshallchangeitsdesignatedofficeoragentfor |
|---|
| 4575 | | - | serviceofprocessinformationbysubmittingtotheSecretaryofStateforfiling |
|---|
| 4576 | | - | astatementofchangepursuantto11V.S.A.§1655. |
|---|
| 4577 | | - | §119.RESIGNATIONOFAGENTFORSERVICEOFPROCESS |
|---|
| 4578 | | - | (a)Toresignasanagentforserviceofprocessofamutualbenefit |
|---|
| 4579 | | - | enterpriseorforeignenterprise,theagentshalldelivertotheSecretaryof |
|---|
| 4580 | | - | Stateforfilingastatementofresignationcontainingthenameoftheagentand |
|---|
| 4581 | | - | thenameoftheenterpriseorforeignenterprise. |
|---|
| 4582 | | - | (b)Afterreceivingastatementofresignationundersubsection(a)ofthis |
|---|
| 4583 | | - | section,theSecretaryofStateshallfileitandmailorotherwiseprovideor |
|---|
| 4584 | | - | deliveracopytothemutualbenefitenterpriseorforeignenterpriseatits |
|---|
| 4585 | | - | principaloffice. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4586 | | - | 2025 Page213of227 |
|---|
| 4587 | | - | (c)Anagencyforserviceofprocessofamutualbenefitenterpriseor |
|---|
| 4588 | | - | foreignenterpriseterminatesontheearlierof: |
|---|
| 4589 | | - | (1)the31stdayaftertheSecretaryofStatefilesastatementof |
|---|
| 4590 | | - | resignationundersubsection(b)ofthissection;or |
|---|
| 4591 | | - | (2)whenarecorddesignatinganewagentforserviceofprocessis |
|---|
| 4592 | | - | deliveredtotheSecretaryofStateforfilingonbehalfoftheenterpriseor |
|---|
| 4593 | | - | foreignenterpriseandbecomeseffectiveAnagentforserviceofprocessmay |
|---|
| 4594 | | - | resignasagentbysubmittingtotheSecretaryofStateforfilingastatementof |
|---|
| 4595 | | - | resignationpursuantto11V.S.A.§1655. |
|---|
| 4596 | | - | §120.SERVICEOFPROCESS |
|---|
| 4597 | | - | (a)Anagentforserviceofprocessappointedbyamutualbenefitenterprise |
|---|
| 4598 | | - | orforeignenterpriseisanagentoftheenterpriseorforeignenterprisefor |
|---|
| 4599 | | - | serviceofprocess,notice,orademandrequiredorpermittedbylawtobe |
|---|
| 4600 | | - | servedupontheenterpriseorforeignenterprise. |
|---|
| 4601 | | - | (b)Ifamutualbenefitenterpriseorforeignenterprisedoesnotappointor |
|---|
| 4602 | | - | maintainanagentforserviceofprocessinthisStateortheagentforserviceof |
|---|
| 4603 | | - | processcannotwithreasonablediligencebefoundattheaddressofthe |
|---|
| 4604 | | - | designatedofficeonfilewiththeSecretaryofState,theSecretaryofStateisan |
|---|
| 4605 | | - | agentoftheenterpriseorforeignenterpriseuponwhichprocess,notice,ora |
|---|
| 4606 | | - | demandmaybeserved. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4607 | | - | 2025 Page214of227 |
|---|
| 4608 | | - | (c)Serviceofprocess,notice,orademandontheSecretaryofStateas |
|---|
| 4609 | | - | agentofamutualbenefitenterpriseorforeignenterprisemaybemadeby |
|---|
| 4610 | | - | deliveringtotheSecretaryofStatetwocopiesoftheprocess,notice,or |
|---|
| 4611 | | - | demand.TheSecretaryofStateshallforwardonecopybyregisteredor |
|---|
| 4612 | | - | certifiedmail,returnreceiptrequested,totheenterpriseorforeignenterprise |
|---|
| 4613 | | - | atitsprincipaloffice. |
|---|
| 4614 | | - | (d)Serviceiseffectedundersubsection(c)ofthissectionontheearliestof: |
|---|
| 4615 | | - | (1)thedatethemutualbenefitenterpriseorforeignenterprisereceives |
|---|
| 4616 | | - | theprocess,notice,ordemand; |
|---|
| 4617 | | - | (2)thedateshownonthereturnreceipt,ifsignedonbehalfofthe |
|---|
| 4618 | | - | enterpriseorforeignenterprise;or |
|---|
| 4619 | | - | (3)fivedaysaftertheprocess,notice,ordemandisdepositedbythe |
|---|
| 4620 | | - | SecretaryofStatefordeliverybytheU.S.PostalService,ifpostageisprepaid |
|---|
| 4621 | | - | totheaddressoftheprincipalofficeonfilewiththeSecretaryofState. |
|---|
| 4622 | | - | (e)TheSecretaryofStateshallkeeparecordofeachprocess,notice,and |
|---|
| 4623 | | - | demandservedpursuanttothissectionandrecordthetimeofandtheaction |
|---|
| 4624 | | - | takenregardingtheservice. |
|---|
| 4625 | | - | (f)Thissectiondoesnotaffecttherighttoserveprocess,notice,ora |
|---|
| 4626 | | - | demandinanyothermannerprovidedbylawAmutualbenefitenterpriseor |
|---|
| 4627 | | - | foreignenterpriseissubjecttotheserviceofprocessprovisionsin11V.S.A. |
|---|
| 4628 | | - | § 1656. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4629 | | - | 2025 Page215of227 |
|---|
| 4630 | | - | Sec.23.11CV.S.A.chapter2isamendedtoread: |
|---|
| 4631 | | - | CHAPTER2.FILINGANDANNUALREPORTS |
|---|
| 4632 | | - | *** |
|---|
| 4633 | | - | §202.SIGNINGANDFILINGOFRECORDSPURSUANTTOJUDICIAL |
|---|
| 4634 | | - | ORDER |
|---|
| 4635 | | - | (a)Ifapersonrequiredbythistitletosignordeliverarecordtothe |
|---|
| 4636 | | - | SecretaryofStateforfilingdoesnotdoso,theSuperiorCourtofthecountyof |
|---|
| 4637 | | - | themutualbenefitenterprise’sprincipalofficeortheforeignenterprise’s |
|---|
| 4638 | | - | registereddesignatedoffice,uponpetitionofanaggrievedperson,mayorder: |
|---|
| 4639 | | - | (1)thepersontosigntherecordanddeliverittotheSecretaryofState |
|---|
| 4640 | | - | forfiling;or |
|---|
| 4641 | | - | (2)deliveryoftheunsignedrecordtotheSecretaryofStateforfiling. |
|---|
| 4642 | | - | *** |
|---|
| 4643 | | - | §206.CERTIFICATEOFGOODSTANDINGORAUTHORIZATION |
|---|
| 4644 | | - | (a)TheSecretaryofState,uponrequestandpaymentoftherequiredfee, |
|---|
| 4645 | | - | shallfurnishanypersonthatrequestsitacertificateofgoodstandingfora |
|---|
| 4646 | | - | mutualbenefitenterpriseiftherecordsfiledintheOfficeoftheSecretaryof |
|---|
| 4647 | | - | StateshowthattheSecretaryofStatehasfiledtheenterprise’sarticlesof |
|---|
| 4648 | | - | organization,thattheenterpriseisingoodstanding,andthattheSecretaryof |
|---|
| 4649 | | - | Statehasnotfiledastatementoftermination. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4650 | | - | 2025 Page216of227 |
|---|
| 4651 | | - | (b)TheSecretaryofState,uponrequestandpaymentoftherequiredfee, |
|---|
| 4652 | | - | shallfurnishtoanypersonthatrequestsitacertificateofauthority |
|---|
| 4653 | | - | authorizationforaforeignenterpriseiftherecordsfiledintheOfficeofthe |
|---|
| 4654 | | - | SecretaryofStateshowthattheSecretaryofStatehasfiledtheforeign |
|---|
| 4655 | | - | enterprise’scertificateofauthority,hasnotrevokednorhasreasontorevoke |
|---|
| 4656 | | - | thecertificateofauthority,andhasnotfiledanoticeofcancellation. |
|---|
| 4657 | | - | (c)Subjecttoanyexceptionsstatedinthecertificate,acertificateofgood |
|---|
| 4658 | | - | standingorauthorityauthorizationissuedbytheSecretaryofStateestablishes |
|---|
| 4659 | | - | conclusivelythatthemutualbenefitenterpriseorforeignenterpriseisingood |
|---|
| 4660 | | - | standingorisauthorizedtotransactbusinessinthisState. |
|---|
| 4661 | | - | §207.ANNUALREPORTFORSECRETARYOFSTATE |
|---|
| 4662 | | - | (a)Amutualbenefitenterpriseorforeignenterpriseauthorizedtotransact |
|---|
| 4663 | | - | businessinthisStateshalldelivertotheSecretaryofStateforfilinganannual |
|---|
| 4664 | | - | reportthatstates: |
|---|
| 4665 | | - | (1)thenameoftheenterpriseorforeignenterprise; |
|---|
| 4666 | | - | (2)thestreetaddressand,ifdifferent,mailingaddressofthe |
|---|
| 4667 | | - | enterprise’sorforeignenterprise’sdesignatedofficeandthenameofitsagent |
|---|
| 4668 | | - | forserviceofprocessatthedesignatedoffice; |
|---|
| 4669 | | - | (3)thestreetaddressand,ifdifferent,mailingaddressofthe |
|---|
| 4670 | | - | enterprise’sorforeignenterprise’sprincipaloffice; |
|---|
| 4671 | | - | (4)thenameandbusinessaddressofanydirectororofficer;and BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4672 | | - | 2025 Page217of227 |
|---|
| 4673 | | - | (5)inthecaseofaforeignenterprise,thestateorotherjurisdiction |
|---|
| 4674 | | - | underwhoselawtheforeignenterpriseisformedandanyalternativename |
|---|
| 4675 | | - | adoptedundersection1405ofthistitle. |
|---|
| 4676 | | - | (b)Informationinanannualreportshallbecurrentasofthedatethe |
|---|
| 4677 | | - | reportisdeliveredtotheSecretaryofState. |
|---|
| 4678 | | - | (c)Amutualbenefitenterpriseorforeignenterpriseauthorizedtotransact |
|---|
| 4679 | | - | businessinthisStateshalldeliveritsannualreporttotheSecretaryforfiling |
|---|
| 4680 | | - | betweenJanuary1andApril1ofeachyear,beginningintheyearfollowing |
|---|
| 4681 | | - | thecalendaryearinwhichthemutualbenefitenterpriseisformedorthe |
|---|
| 4682 | | - | foreignenterpriseisauthorizedtotransactbusinessinthisState. |
|---|
| 4683 | | - | (d)Ifanannualreportdoesnotcontaintheinformationrequiredby |
|---|
| 4684 | | - | subsection(a)ofthissection,theSecretaryofStateshallpromptlynotifythe |
|---|
| 4685 | | - | reportingmutualbenefitenterpriseorforeignenterpriseandreturnthereport |
|---|
| 4686 | | - | forcorrection.Ifthereportiscorrectedtocontaintheinformationrequiredby |
|---|
| 4687 | | - | subsection(a)ofthissectionanddeliveredtotheSecretaryofStatenotlater |
|---|
| 4688 | | - | than30daysafterthedateofthenoticefromtheSecretaryofState,itistimely |
|---|
| 4689 | | - | delivered. |
|---|
| 4690 | | - | (e)Ifafiledannualreportcontainsanaddressofthedesignatedoffice,the |
|---|
| 4691 | | - | nameorbusinessaddressofadirectororofficer,oraddressoftheprincipal |
|---|
| 4692 | | - | officewhichdiffersfromtheinformationshownintherecordsoftheSecretary |
|---|
| 4693 | | - | ofStateimmediatelybeforethefiling,thedifferinginformationintheannual BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4694 | | - | 2025 Page218of227 |
|---|
| 4695 | | - | reportisconsideredastatementofchangeTheSecretaryofStateshallamend |
|---|
| 4696 | | - | itsrecordstoreflectachange,ifspecifiedinthereport,tothebusiness’s |
|---|
| 4697 | | - | purpose,email,address,orprincipalinformation. |
|---|
| 4698 | | - | *** |
|---|
| 4699 | | - | Sec.24.11CV.S.A.chapter14isamendedtoread: |
|---|
| 4700 | | - | CHAPTER14.FOREIGNENTERPRISES |
|---|
| 4701 | | - | *** |
|---|
| 4702 | | - | §1402.APPLICATIONFORCERTIFICATEOFAUTHORITY |
|---|
| 4703 | | - | (a)Aforeignenterprisemayapplyforacertificateofauthorityby |
|---|
| 4704 | | - | deliveringanapplicationtotheSecretaryofStateforfiling.Theapplication |
|---|
| 4705 | | - | shallstate: |
|---|
| 4706 | | - | (1)thenameoftheforeignenterpriseand,ifthenamedoesnotcomply |
|---|
| 4707 | | - | withsection111ofthistitle,analternativenameadoptedpursuanttosection |
|---|
| 4708 | | - | 1405ofthistitle; |
|---|
| 4709 | | - | (2)thenameofthestateorotherjurisdictionunderwhoselawthe |
|---|
| 4710 | | - | foreignenterpriseisorganized; |
|---|
| 4711 | | - | (3)thestreetaddressand,ifdifferent,mailingaddressoftheprincipal |
|---|
| 4712 | | - | officeand,ifthelawofthejurisdictionunderwhichtheforeignenterpriseis |
|---|
| 4713 | | - | organizedrequirestheforeignenterprisetomaintainanotherofficeinthat |
|---|
| 4714 | | - | jurisdiction,thestreetaddressand,ifdifferent,mailingaddressoftherequired |
|---|
| 4715 | | - | office; BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4716 | | - | 2025 Page219of227 |
|---|
| 4717 | | - | (4)thestreetaddressand,ifdifferent,mailingaddressoftheforeign |
|---|
| 4718 | | - | enterprise’sdesignatedofficeinthisState,andthenameoftheforeign |
|---|
| 4719 | | - | enterprise’sagentforserviceofprocessatthedesignatedoffice;and |
|---|
| 4720 | | - | (5)thename,streetaddressand,ifdifferent,mailingaddressofeachof |
|---|
| 4721 | | - | theforeignenterprise’scurrentdirectorsandofficers,andofanyother |
|---|
| 4722 | | - | principaltheenterpriseprovides. |
|---|
| 4723 | | - | *** |
|---|
| 4724 | | - | ***UpdatestoTitle12language*** |
|---|
| 4725 | | - | Sec.25.12V.S.A.chapter25,subchapter6isamendedtoread: |
|---|
| 4726 | | - | Subchapter6.ForeignCorporationsBusinessOrganizations |
|---|
| 4727 | | - | §851.SERVICEONSECRETARYOFSTATE |
|---|
| 4728 | | - | WhenaforeigncorporationhasappointedtheSecretaryofStateasits |
|---|
| 4729 | | - | processagentpursuanttothestatutesrelatingtosuchcorporations,serviceof |
|---|
| 4730 | | - | processmadeupontheSecretarybydeliveringtohimorherduplicatecopies |
|---|
| 4731 | | - | thereof,shallbesufficient.Acopyofthestipulation,filedundertheprovisions |
|---|
| 4732 | | - | of11V.S.A.§3011,11AV.S.A.§15.10,and11BV.S.A.§15.10,certifiedby |
|---|
| 4733 | | - | theSecretary,withhisorhercertificatethatprocesshasbeenservedonhimor |
|---|
| 4734 | | - | her,shallbesufficientevidencethereofAbusinessorganizationissubjectto |
|---|
| 4735 | | - | theserviceofprocessprovisionsin11V.S.A.§1656. |
|---|
| 4736 | | - | §852.FEES;MAILINGOFCOPYTOCORPORATIONBUSINESS |
|---|
| 4737 | | - | ORGANIZATION BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4738 | | - | 2025 Page220of227 |
|---|
| 4739 | | - | WhenprocessisservedontheSecretaryofStateundertheprovisionsof |
|---|
| 4740 | | - | section851ofthistitle11V.S.A.§1656,thereshallbepaidtotheSecretaryby |
|---|
| 4741 | | - | theofficeratthetimeofsuchservicethesumof$35.00.TheSecretaryshall |
|---|
| 4742 | | - | forthwithforwardbymailprepaidoneoftheduplicatecopiestothe |
|---|
| 4743 | | - | corporationatitshomeofficeortoapersonwhomitdesignates. |
|---|
| 4744 | | - | §853.DOINGBUSINESSBYPARTICULARCOMPANIESWITHOUT |
|---|
| 4745 | | - | DESIGNATINGPROCESSAGENT;PENALTY |
|---|
| 4746 | | - | Apersonoragentforaforeigninsurance,express,shippingcar,telephone |
|---|
| 4747 | | - | ortelegraphcompany,orotherforeigncompanydoinglikebusiness,which |
|---|
| 4748 | | - | hasnotdesignatedtheSecretaryofStateasitsprocessagent,asrequiredby11 |
|---|
| 4749 | | - | V.S.A.§692whosolicitsorreceivesariskorapplicationforinsurance,or |
|---|
| 4750 | | - | receivesmoneyorvalueforsuchinsurancebysuchcompany,orreceives |
|---|
| 4751 | | - | moneyorvalueforthetransportationofapackageorpropertybysuchexpress |
|---|
| 4752 | | - | orshippingcarcompany,orforthetransmissionofamessageordispatchby |
|---|
| 4753 | | - | suchtelegraphcompany,orreceivesmoney,rent,royalty,orincomeforsuch |
|---|
| 4754 | | - | telephonecompanyfortheuseofitsinstrumentsorlinesorforthesendingof |
|---|
| 4755 | | - | anymessage,shallbefinednotmorethan$500.00norlessthan$100.00. |
|---|
| 4756 | | - | *** |
|---|
| 4757 | | - | §855.DOINGBUSINESSASAPPOINTMENTOFPROCESSAGENT |
|---|
| 4758 | | - | IfthecontactwiththeStateortheactivityinthestateofaforeign |
|---|
| 4759 | | - | corporationbusinessorganization,orthecontactoractivityimputabletoit,is BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4760 | | - | 2025 Page221of227 |
|---|
| 4761 | | - | sufficienttosupportaVermontpersonaljudgmentagainstit,thecontactor |
|---|
| 4762 | | - | activityshallbedeemedtobedoingbusinessinVermontbythatforeign |
|---|
| 4763 | | - | corporationorganizationandshallbeequivalenttotheappointmentbyitof |
|---|
| 4764 | | - | theSecretaryoftheStateofVermontandhisorhertheSecretary’ssuccessors |
|---|
| 4765 | | - | tobeitstrueandlawfulattorneyuponwhommaybeservedalllawfulprocess |
|---|
| 4766 | | - | inanyactionorproceedingsagainstitarisingorgrowingoutofthatcontact |
|---|
| 4767 | | - | oractivity,andalsoshallbedeemedtobeitsagreementthatanyprocess |
|---|
| 4768 | | - | againstitwhichthatissoservedupontheSecretaryofStateshallbeofthe |
|---|
| 4769 | | - | samelegalforceandeffectasifservedontheforeigncorporationatits |
|---|
| 4770 | | - | principalplaceofbusinessinthestateorcountrywhereitisincorporated |
|---|
| 4771 | | - | accordingtothelawofthatstateorcountry. |
|---|
| 4772 | | - | §856.SERVICEOFPROCESS |
|---|
| 4773 | | - | Serviceofprocessbyvirtueofsection855ofthistitleshallbemade |
|---|
| 4774 | | - | pursuantto11V.S.A.§1656bydeliveringtotheSecretaryofStateduplicate |
|---|
| 4775 | | - | copiesoftheprocess,withtheofficer’sreturnofservicethereon,andafeeof |
|---|
| 4776 | | - | $25.00,tobetaxedintheplaintiff’scostsifheorsheprevails.TheSecretary |
|---|
| 4777 | | - | shallforthwithforwardoneoftheduplicatecopiesbyregisteredmailprepaid |
|---|
| 4778 | | - | tothecorporationatitsprincipalplaceofbusinessinthestateorcountry |
|---|
| 4779 | | - | whereitisincorporated,whichprincipalplaceofbusinessshallbestatedin |
|---|
| 4780 | | - | theprocess.Theserviceshallbesufficientifacopyoftheprocess,withthe |
|---|
| 4781 | | - | officer’sreturnthereonshowingtheserviceupontheSecretaryofState,issent BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4782 | | - | 2025 Page222of227 |
|---|
| 4783 | | - | bytheplaintifftotheforeigncorporationbyregisteredmail,andifthe |
|---|
| 4784 | | - | plaintiff’saffidavitofcomplianceherewithisfiledwiththeprocessincourt. |
|---|
| 4785 | | - | TheSecretaryshallfileoneofthecopiesandendorseuponeachcopytheday |
|---|
| 4786 | | - | andhourofservice. |
|---|
| 4787 | | - | §857.CONTINUANCE;COSTS |
|---|
| 4788 | | - | Thecourtinwhichtheactionispendingmayordersuchcontinuancesas |
|---|
| 4789 | | - | maybenecessarytoaffordthedefendantreasonableopportunitytoappear |
|---|
| 4790 | | - | anddefend.Thefeeprovidedinsection856ofthistitleshallbetaxedinthe |
|---|
| 4791 | | - | plaintiff’scostsifheorsheprevails.[Repealed.] |
|---|
| 4792 | | - | §858.ALTERNATIVEMEANSOFSERVICE |
|---|
| 4793 | | - | Asanalternativetoserviceofprocessunderthissubchapterorwhena |
|---|
| 4794 | | - | stipulationappointingtheSecretaryofStateasprocessagentisnotfiledwith |
|---|
| 4795 | | - | theCommissionerofForeignCorporations,processmaybeservedupona |
|---|
| 4796 | | - | foreigncorporationinaccordancewithsections912and913ofthistitleorby |
|---|
| 4797 | | - | anymethodthattheSupremeCourtshallbyruleprovideforserviceupona |
|---|
| 4798 | | - | domesticcorporation.[Repealed.] |
|---|
| 4799 | | - | ***UpdatestoTitle30language*** |
|---|
| 4800 | | - | Sec.26.30V.S.A.chapter81isamendedtoread: |
|---|
| 4801 | | - | CHAPTER81.ELECTRICUTILITYCOOPERATIVES |
|---|
| 4802 | | - | *** |
|---|
| 4803 | | - | §3001a.PURPOSE BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4804 | | - | 2025 Page223of227 |
|---|
| 4805 | | - | CooperativesAcooperativemaybeorganizedunderthischapterforthe |
|---|
| 4806 | | - | purposeofcreatingorsupplyingenergy,cabletelevision,telecommunications, |
|---|
| 4807 | | - | interactivemedia,andinternetaccessandfacilitatingandextendingtheuse |
|---|
| 4808 | | - | thereof,andinaddition,anyotherlawfulbusinessnotinconsistentwiththis |
|---|
| 4809 | | - | chapterthatutilizestheelectricdistributionfacilitiesofthecooperative. |
|---|
| 4810 | | - | §3002.POWERS |
|---|
| 4811 | | - | Acooperativeshallhavepower: |
|---|
| 4812 | | - | (1)Tosueandbesuedinitscorporatename. |
|---|
| 4813 | | - | (2)Tohaveperpetualexistence. |
|---|
| 4814 | | - | (3)Toadoptacorporatesealandalterthesame. |
|---|
| 4815 | | - | (4)Togenerate,manufacture,purchase,acquire,accumulate,and |
|---|
| 4816 | | - | transmitelectricenergy;andtodistribute,sell,supply,anddisposeofenergy, |
|---|
| 4817 | | - | cabletelevision,telecommunications,interactivemedia,andinternetaccessto |
|---|
| 4818 | | - | itsmembers,togovernmentalagencies,andtopoliticalsubdivisions;provided, |
|---|
| 4819 | | - | however,thatinthegenerationofelectricenergybywaterpower,a |
|---|
| 4820 | | - | cooperativeshallcomplywiththeprovisionsof10V.S.A.§§1081–1099, |
|---|
| 4821 | | - | relatingtotheconstructionandmaintenanceofdamsand,providedfurther, |
|---|
| 4822 | | - | thatacooperativedoinganyactivitygovernedbythistitleshallberegulated |
|---|
| 4823 | | - | forthatactivity. |
|---|
| 4824 | | - | *** |
|---|
| 4825 | | - | §3003.NAME BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4826 | | - | 2025 Page224of227 |
|---|
| 4827 | | - | Thenameofacooperativegovernedbythischaptershallincludethewords |
|---|
| 4828 | | - | “utility”or“energy”oraworddesignatinganyspecificformofenergysuch |
|---|
| 4829 | | - | as“electric,”“propane,”or“naturalgas”and“cooperative”andthe |
|---|
| 4830 | | - | abbreviation“inc.”unless,inanaffidavitmadebyitspresidentorvice |
|---|
| 4831 | | - | presidentandfiledwiththeSecretaryofState,orinanaffidavitmadebya |
|---|
| 4832 | | - | personsigningarticlesofincorporation,consolidation,merger,orconversion, |
|---|
| 4833 | | - | whichrelatetothecooperativeandfiled,togetherwiththearticles,withthe |
|---|
| 4834 | | - | SecretaryofState,itshallappearthatthecooperativedesirestodobusinessin |
|---|
| 4835 | | - | anotherstateandisorwouldbeprecludedbyreasonoftheinclusionofthe |
|---|
| 4836 | | - | wordsinitsname.Thenameofacooperativeshallbedistinctfromthename |
|---|
| 4837 | | - | ofanyothercooperativeorcorporationorganizedunderthelawsof,or |
|---|
| 4838 | | - | authorizedtodobusinessin,thisState. |
|---|
| 4839 | | - | *** |
|---|
| 4840 | | - | §3037.FOREIGNCOMPANIES;SERVICEOFPROCESS |
|---|
| 4841 | | - | Aforeignnonprofitorcooperativecorporationsupplyingorauthorizedto |
|---|
| 4842 | | - | supplyelectricenergyandowningoroperatingelectrictransmissionor |
|---|
| 4843 | | - | distributionlinesinanadjacentstate,priortoMarch26,1943,mayconstruct |
|---|
| 4844 | | - | oracquireextensionsoflinesinthisStatewithinanareanopointofwhichis |
|---|
| 4845 | | - | morethan25milesfromtheboundarylineofthisStateandmayoperatethose |
|---|
| 4846 | | - | extensionswithoutqualifyingasaforeigncorporationtodobusinessinthis |
|---|
| 4847 | | - | State.Beforeconstructingoroperatingsuchextensions,byaninstrument BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4848 | | - | 2025 Page225of227 |
|---|
| 4849 | | - | executedandacknowledgedonitsbehalfbyitspresidentorvicepresident, |
|---|
| 4850 | | - | underitssealattestedbyitsclerkorsecretary,andfiledwiththeSecretaryof |
|---|
| 4851 | | - | State,acorporationshalldesignatetheSecretaryofStateitsagenttoaccept |
|---|
| 4852 | | - | serviceofprocessonitsbehalf.Thereafter,thecorporationshallhaveallthe |
|---|
| 4853 | | - | rights,powers,privileges,andimmunitiesofacooperative.Serviceofprocess |
|---|
| 4854 | | - | shallbemadeupontheSecretaryofStateinaccordancewiththeprovisionsof |
|---|
| 4855 | | - | 12V.S.A.§§851and852andshallforwardonecopyofthesamebyregistered |
|---|
| 4856 | | - | mailtosuchcorporationattheaddressofitsprincipaloffice11V.S.A.§1656. |
|---|
| 4857 | | - | *** |
|---|
| 4858 | | - | ***BusinessOrganizationsStudy*** |
|---|
| 4859 | | - | Sec.27.BUSINESSSERVICESANDBUSINESSORGANIZATIONS; |
|---|
| 4860 | | - | STUDY |
|---|
| 4861 | | - | (a)Task.TheSecretaryofStateshallconductapublicengagementprocess |
|---|
| 4862 | | - | withinterestedpartnerstostudy,consider,andaddressthefollowingissues: |
|---|
| 4863 | | - | (1)technical,procedural,andsubstantiveissuesconcerningtheonline |
|---|
| 4864 | | - | businessfilingsystem; |
|---|
| 4865 | | - | (2)statutoryrevisionsto: |
|---|
| 4866 | | - | (A)adoptprovisionsoftheUniformBusinessOrganizationsCodeor |
|---|
| 4867 | | - | otherprovisionstofurtherharmonizethelawsgoverningbusiness |
|---|
| 4868 | | - | organizationsinthisState,includingprovisionsgoverningcommercial BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4869 | | - | 2025 Page226of227 |
|---|
| 4870 | | - | registeredagentsandupdatestotheTitlesoftheVermontStatutesAnnotated |
|---|
| 4871 | | - | relatedtobusinessorganizations; |
|---|
| 4872 | | - | (B)thelawsgoverningtrademarksandpossibleexpansiontoinclude |
|---|
| 4873 | | - | servicemarks; |
|---|
| 4874 | | - | (C)thedualframeworkgoverningpartnershipsin11V.S.A.chapters |
|---|
| 4875 | | - | 15and22andthemandatoryregistrationofassumedbusinessnamesand |
|---|
| 4876 | | - | unincorporatednonprofitassociations;and |
|---|
| 4877 | | - | (D)thefeescollectedforvariousbusinessorganizationfilings; |
|---|
| 4878 | | - | (3)assessmentoftheneedforanyupdatestocurrentmodellawsorthe |
|---|
| 4879 | | - | additionofnewmodellegislation;and |
|---|
| 4880 | | - | (4)assessmentoftheadministrativeoversightauthorityandsubstantive |
|---|
| 4881 | | - | provisionsgoverningdatabrokers,telemarketers,utilitycooperatives,and |
|---|
| 4882 | | - | amusementrideoperators. |
|---|
| 4883 | | - | (b)Reporting.TheSecretaryofStateshall,basedonthetasksetforthin |
|---|
| 4884 | | - | subsection(a)ofthissection,submittotheHouseCommitteeonCommerce |
|---|
| 4885 | | - | andEconomicDevelopmentandtotheSenateCommitteeonEconomic |
|---|
| 4886 | | - | Development,HousingandGeneralAffairs,aninterimreportonorbefore |
|---|
| 4887 | | - | November15,2025andafinalreportonorbeforeDecember1,2026 |
|---|
| 4888 | | - | includingitsfindingsandanyproposedlegislationfortheGeneralAssembly’s |
|---|
| 4889 | | - | consideration.TheinterimreportshallprovidetheGeneralAssemblywithany |
|---|
| 4890 | | - | recommendedactionstopursueinthe2026legislativesession. BILLASPASSEDBYTHEHOUSE H.243 |
|---|
| 4891 | | - | 2025 Page227of227 |
|---|
| 4892 | | - | ***EffectiveDate*** |
|---|
| 4893 | | - | Sec.28.EFFECTIVEDATE |
|---|
| 4894 | | - | ThisactshalltakeeffectonJuly1,2025. |
|---|
| 1 | + | BILL AS INTRODUCED H.243 |
|---|
| 2 | + | 2025 Page 1 of 1 |
|---|
| 3 | + | |
|---|
| 4 | + | |
|---|
| 5 | + | VT LEG #380833 v.1 |
|---|
| 6 | + | H.243 1 |
|---|
| 7 | + | SHORT FORM 2 |
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| 8 | + | Introduced by Representatives Marcotte of Coventry, Graning of Jericho, and 3 |
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| 9 | + | White of Bethel 4 |
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| 10 | + | Referred to Committee on 5 |
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| 11 | + | Date: 6 |
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| 12 | + | Subject: Corporations; partnerships and associations 7 |
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| 13 | + | Statement of purpose of bill as introduced: This bill proposes to make 8 |
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| 14 | + | technical and stylistic changes to Vermont’s laws regulating business 9 |
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| 15 | + | organizations in addition to changes aimed at reducing fraudulent business 10 |
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| 16 | + | filings with the Secretary of State. 11 |
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| 17 | + | An act relating to the regulation of business organizations 12 |
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| 18 | + | It is hereby enacted by the General Assembly of the State of Vermont: 13 |
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| 19 | + | (TEXT OMITTED IN SHORT-FORM BILLS) 14 |
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