Ownership of stock in other corporations When a corporation subject to the regulation of the Public Service Commission, prior to April 2, 1915, was authorized by its charter or otherwise to hold stock in another corporation, the public service corporation may petition the Public Utility Commission for authority to increase the amount of stock of the other corporation that may be owned by the petitioning corporation. If the Commission finds and adjudges that an increase will promote the general good of the State, it may issue its certificate and order authorizing the same, and the charter or articles of incorporation shall be amended to conform to the order. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 1985, No. 224 (Adj. Sess.), § 3; 2023, No. 85 (Adj. Sess.), § 352, eff. July 1, 2024.)
Vermont Legal Code