Connecticut Voting Trust Certificate
Description
How to fill out Voting Trust Certificate?
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FAQ
Resident trust means: ? A testamentary trust or a portion of the trust if the decedent was a resident individual at the time of death.
The states that have enacted a version of the Uniform Trust Code are Alabama, Arizona, Arkansas, Florida, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, ...
A voting trust certificate is a document used to give temporary voting control over a corporation to one or several individuals. It is issued to a shareholder and represents the normal rights of any other stockholder, such as receiving quarterly dividends in exchange for their common shares.
Although Connecticut does not yet have a decanting statute, some people have decanted old Connecticut trusts into new trusts. Some practitioners believe that there is enough authority to allow decanting under common law (case law).
Connecticut adopted the Uniform Trust Code (the ?UTC?) effective for 2020. The UTC, which has now been adopted in 34 states, including Massachusetts, modernizes Connecticut's trust laws and provides a framework for directed trusts and asset protection trusts.
The Uniform Trust Code (which was promulgated in 2000, and has been adopted in some form in more than 30 other states, including Florida, Massachusetts and New Jersey) modernizes Connecticut's trust law and provides a framework for establishing directed trusts and asset protection trusts.
A voting trust agreement transfers the voting rights of shareholders to a trustee, giving the trustee temporary control of the corporation. A fiduciary is a person or organization that acts on behalf of a person or persons and is legally bound to act solely in their best interests.
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.