Connecticut § 33-418o Conversion of shares upon revocation of election. Consolidation or merger restricted.

Connecticut Statutes

§ 33-418o — Conversion of shares upon revocation of election. Consolidation or merger restricted.

Connecticut § 33-418o

Title 33Corporations

Ch. 599aWorker Cooperative Corporations

This text of Connecticut § 33-418o (Conversion of shares upon revocation of election. Consolidation or merger restricted.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 33-418o (2026).

Text

(a)When a worker cooperative revokes its election in accordance with subsection (b) of section 33-418h, the certificate of amendment shall provide for conversion of membership shares and internal capital accounts or their conversion to securities or other property in a manner consistent with the provisions of chapter 601.

(b)A worker cooperative which has not revoked its election under this chapter may not consolidate or merge with another corporation other than a worker cooperative. Two or more worker cooperatives may consolidate or merge in accordance with sections 33-815 , 33-817 , 33-819 and 33-820 and subdivision (1) of subsection (a) of section 33-856 .

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(a) When a worker cooperative revokes its election in accordance with subsection (b) of section 33-418h, the certificate of amendment shall provide for conversion of membership shares and internal capital accounts or their conversion to securities or other property in a manner consistent with the provisions of chapter 601. (b) A worker cooperative which has not revoked its election under this chapter may not consolidate or merge with another corporation other than a worker cooperative. Two or more worker cooperatives may consolidate or merge in accordance with sections 33-815 , 33-817 , 33-819 and 33-820 and subdivision (1) of subsection (a) of section 33-856 .

Legislative History

(P.A. 84-430, S. 12, 14; P.A. 96-271, S. 176, 254.) History: P.A. 96-271 amended Subsec. (a) to replace reference to chapter 599 with chapter 601 and amended Subsec. (b) to replace reference to “sections 33-364 to 33-369, inclusive, and subsection (c) of section 33-373” with “sections 33-815, 33-817, 33-819, 33-820 and subdivision (1) of subsection (a) of section 33-856”, effective January 1, 1997.