Vermont § 1015 - Issue of stock An association shall not issue stock to a member until it has been fully paid for
Full text of Vermont Vermont Statutes Online § 1015 — Issue of stock An association shall not issue stock to a member until it has been fully paid for, with citation guidance and answers to common questions.
§ 1015. Issue of stock An association shall not issue stock to a member until it has been fully paid for
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The promissory notes of the members may be accepted by the association as full or
partial payment. The association shall hold the stock as security for the payment
of the note, but such retention as security shall not affect the member’s right to
vote. Until such notes are paid in full, the corresponding stock, to the extent of
unpaid balances, shall be carried on the books of the association and upon all financial
statements made by the association as “capital stock issued for notes,” and the notes
shall be carried on such books and statements as “notes given for capital stock.”
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 1015
What does Vermont Statutes Online § 1015 cover?
Section 1015 ("Issue of stock An association shall not issue stock to a member until it has been fully paid for") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 1015?
A common citation format is "Vermont Statutes Online § 1015" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 1015 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.