Saving clause; corporations formed before April 2, 1915 All corporations formed prior to April 2, 1915, by special act or under the general laws of this State, that are conducting any business subject to regulation by the Public Utility Commission shall, with respect to acts done after that date, be deemed to be within the provisions of this chapter and the provisions of the general corporation law in like manner as a corporation formed under this chapter. However, a corporation formed shall not do any act in violation of any restriction contained in its charter. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 1985, No. 224 (Adj. Sess.), § 5; 2023, No. 85 (Adj. Sess.), § 359, eff. July 1, 2024.)
Vermont Legal Code