Sec. 33-1035. Purposes.
Sec. 33-1035. Purposes. (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, telegraph company, gas, electric, 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.
(P.A. 96-256, S. 26, 209; P.A. 97-127; 97-246, S. 46, 99; P.A. 98-28, S. 109, 117.)
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.
Annotations to former section 33-146:
"Conducted solely for profit" implies grant of power to make incidental profit. 111 C. 207; 115 C. 136. Cited. 133 C. 566.
Authority to operate credit union prior to 1945 founded on first sentence of section. Authority now in chapter 646. 15
CS 45.
Annotations to former section 33-423:
Subsec. (c):
Cited. 184 C. 352. Cited. 211 C. 51.