Reports

V.S.A. tit. 11A, ch. 16, subch. 2

in effect

11A V.S.A. § 16.20 Financial statements for shareholders

16.20. Financial statements for shareholders (a) A corporation shall furnish its shareholders annual financial statements, which may be consolidated or combined statements of the corporation and one or more of its subsidiaries, as appropriate, that include a balance sheet as of the end of the fiscal year, an income statement for that year, and a statement of changes in shareholders’ equity for the year unless that information appears elsewhere in the financial statements. If financial statements are prepared for the corporation on the basis of generally accepted accounting principles, the annual financial statements must also be prepared on that basis. (b) If the annual financial statements are reported upon by a public accountant, his or her report must accompany them. If not, the statements must be accompanied by a statement of the president or the person responsible for the corporation’s accounting records: (1) stating his or her reasonable belief whether the statements were prepared on the basis of generally accepted accounting principles and, if not, describing the basis of preparation; and (2) describing any respect in which the statements were not prepared on a basis of accounting consistent with the statements prepared for the preceding year. (c) A corporation shall mail the annual financial statements to each shareholder within 120 days after the close of each fiscal year. Thereafter, on written request from a shareholder who was not mailed the statements, the corporation shall mail to the shareholder the latest financial statements. Added 1993, No. 85, § 2, eff. Jan. 1, 1994.

11A V.S.A. § 16.21 Other reports to shareholders

16.21. Other reports to shareholders (a) If a corporation indemnifies or advances expenses to a director under section 8.51, 8.52, 8.53, or 8.54 of this title in connection with a proceeding by or in the right of the corporation, the corporation shall report the indemnification or advance in writing to the shareholders with or before the notice of the next shareholders’ meeting. (b) If a corporation issues or authorizes the issuance of shares for promissory notes, the corporation shall report in writing to the shareholders the number of shares authorized or issued, and the consideration received by the corporation, with or before the notice of the next shareholders’ meeting. Added 1993, No. 85, § 2, eff. Jan. 1, 1994.

11A V.S.A. § 16.22 Annual report for Secretary of State

16.22. Annual report for Secretary of State (a) Each domestic corporation, and each foreign corporation authorized to transact business in this State, shall deliver to the Secretary of State for filing an annual report that sets forth: (1) the name of the corporation and the state or country under whose law it is incorporated; (2) the address of its registered office and the name and email of its registered agent for service of process at that office in this State; (3) the address of its principal office; (4) the names and business addresses of its directors and the president, secretary, treasurer, and all other officers with policy-making authority. (b) Information in the annual report must be current as of the date the annual report is executed on behalf of the corporation. (c) The annual report shall be delivered to the Secretary of State within two and one-half months after the expiration of the corporation’s fiscal year. (d) If an annual report does not contain the information required by this section, the Secretary of State shall promptly notify the reporting domestic or foreign corporation in writing and return the report to it for correction. If the report is corrected to contain the information required by this section and delivered to the Secretary of State within 30 days after the effective date of notice, it is deemed to be timely filed. (e) The Secretary of State shall amend its records to reflect a change, if specified in the report, to the business’s purpose, email, address, or principal information. Added 1993, No. 85, § 2, eff. Jan. 1, 1994; amended 2025, No. 10, § 14, eff. July 1, 2025.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/11A/016Fetched: 10/21/2026