§ 33-1035 — Purposes.

Connecticut § 33-1035

• Jurisdiction: Connecticut
• Title 33: Corporations
• Ch. 602: Nonstock Corporations

Text

(a) A corporation may be formed under sections 33-1000 to 33-1290, inclusive, for the conduct of any affairs or the promotion of any purpose which may be lawfully carried on by a corporation except that of a bank and trust company, savings bank or savings and loan association, provided where, by any other section or sections of the general statutes, provision is made for the formation of a designated class or classes of corporations, such corporations shall be formed under said section or sections and not under sections 33-1000 to 33-1290, inclusive. (b) Except as provided in subsection (f) of this section, no corporation formed under sections 33-1000 to 33-1290 , inclusive, shall, or shall have power to, transact in this state the business of an insurance company or a surety or indemnity company, railroad company, gas, electric distribution or water company, or of any company requiring the right to take and condemn lands or to occupy the public highways of this state. (c) Nothing in sections 33-1000 to 33-1290 , inclusive, shall be construed to authorize a corporation formed under said sections to conduct any affairs except in compliance with any laws of this state regulating or otherwise applying to the same. The provisions of said sections govern all corporations, but notwithstanding the provisions of said sections, where by law special provisions are made in the case of a designated class or classes of corporations governing the corporate procedure thereof in any respect, limiting or extending the powers thereof, conditioning action upon the approval of any agency of the state, or otherwise prescribing the conduct of such corporations, such procedure, powers, action and conduct shall be governed by such special provisions whether or not such corporations are formed under said sections. (d) Nothing in this section shall prohibit the formation of a corporation under sections 33-1000 to 33-1290 , inclusive, for the conduct of any affairs or for the promotion of any purpose in any other state if not prohibited by the laws thereof. (e) Except as otherwise provided in section 38a-153 , nothing in sections 33-1000 to 33-1290 , inclusive, other than the provisions of section 33-1036 , shall be construed to apply to any corporation incorporated under any provision of the special acts, other than a savings bank, which is or may be authorized to transact in this state the business of an insurance company. (f) No corporation may be formed pursuant to this chapter for the purpose of transacting the business of an insurance company or a surety or indemnity company unless, at the time of the filing of its certificate of incorporation, there is also filed a certificate issued by the Insurance Commissioner, pursuant to section 38a-41a , authorizing the formation of the corporation. No corporation formed under this chapter shall have the power to transact in this state the business of an insurance company or a surety or indemnity company until it has procured a license from the Insurance Commissioner in accordance with the provisions of section 38a-41 .

Legislative History

(P.A. 96-256, S. 26, 209; P.A. 97-127; 97-246, S. 46, 99; P.A. 98-28, S. 109, 117; P.A. 14-134, S. 40.) History: P.A. 96-256 effective January 1, 1997; P.A. 97-127 and P.A. 97-246 both amended Subsec. (b) and added new Subsec. (f) re formation of a corporation to transact the business of an insurance company, surety or indemnity company, using identical language, effective October 1, 1997, and June 27, 1997, respectively; P.A. 98-28 amended Subsec. (b) by adding electric distribution companies, effective July 1, 1998; P.A. 14-134 amended Subsec. (b) by deleting references to telegraph company and electric company, effective June 6, 2014.