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Section 33-920. - Authority to transact business required. (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.
Closed corporations are companies with a small number of shareholders that are privately held by managers, owners, and even families. These companies are not publicly traded and the general public cannot readily invest in them.
DOCTRINES Q: What is the Doctrine of Individuality of Subscription? A: A subscription is one entire and indivisible whole contract. DISSOLUTION Q: What is meant by dissolution? A: It is the extinguishment of the franchise of a corporation and the termination of its corporate existence.
Other popular close corporation names include H-E-B, Deloitte, PricewaterhouseCoopers (PwC) and Publix Super Markets.
A close corporation is a corporation which is held by a limited number of shareholders and is not publicly traded.
Any corporation may be incorporated as a close corporation, except mining or oil companies, stock exchanges, banks, insurance companies, public utilities, educational institutions and corporations declared to be vested with public interest in ance with the provisions of this Code.
Connecticut General Statutes 1-225 ? Meetings of government agencies to be public. Recording of votes. Schedule and agenda of certain meetings to be filed and posted on web sites. Notice of special meetings.
A CC is similar to a private company. It is a legal entity with its own legal personality and perpetual succession and must register as a taxpayer in its own right. A CC has no share capital and therefore no shareholders. The owners of a CC are the members of the CC.