Connecticut General Statutes 29-154b – Qualifications of corporate stockholders
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The license of a corporation may be denied by the commissioner, or suspended or revoked, if it shall appear that ten per cent or more of the stock of such corporation is held by a person who cannot meet the character standards required of an applicant.
Terms Used In Connecticut General Statutes 29-154b
- Commissioner: means the Commissioner of Emergency Services and Public Protection. See Connecticut General Statutes 29-152u
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.