Sec. 33-920. Authority to transact business required.
353 words·~2 min read·
/ct/title-33/chapter-601-business-corporations/33-920·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A foreign corporation, other than an insurance, surety or indemnity company, may not transact business in this state until it obtains a certificate of authority from the Secretary of the State. No foreign corporation engaged in the business of a gas, electric distribution or water company, or cemetery corporation, or of any company requiring the right to take and condemn lands or to occupy the public highways of this state, and no foreign telephone company, shall transact in this state the business authorized by its certificate of incorporation or by the laws of the state under which it was organized, unless empowered so to do by some general or special act of this state, except for the purpose of carrying out and renewing contracts existing upon August 1, 1903. No insurance, surety or indemnity company shall transact business in this state until it has procured a license from the Insurance Commissioner in accordance with the provisions of section 38a-41 .
(b)The following activities, among others, do not constitute transacting business within the meaning of subsection
(a)of this section:
(1)Maintaining, defending or settling any proceeding;
(2)holding meetings of the board of directors or shareholders or carrying on other activities concerning internal corporate affairs;
(3)maintaining bank accounts;
(4)maintaining offices or agencies for the transfer, exchange and registration of the corporation's own securities or maintaining trustees or depositaries with respect to those securities;
(5)selling through independent contractors;
(6)soliciting or obtaining orders, whether by mail or through employees or agents or otherwise, if the orders require acceptance outside this state before they become contracts;
(7)creating or acquiring indebtedness, mortgages and security interests in real or personal property;
(8)securing or collecting debts or enforcing mortgages and security interests in property securing the debts;
(9)owning, without more, real or personal property;
(10)conducting an isolated transaction that is completed within thirty days and that is not one in the course of repeated transactions of a like nature;
(11)transacting business in interstate commerce.
(c)The list of activities in subsection
(b)of this section is not exhaustive.