Connecticut General Statutes 35-36a – Proceedings for forfeiture of franchise
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Upon the entering of a final judgment or decree, other than a stipulation or consent decree, for violation of this chapter by any corporation or association transacting business in the state, the Attorney General may institute proceedings in superior court for the judicial district of Hartford for forfeiture of charter rights, franchises, or privileges and powers exercised by such corporation or association, and for the dissolution of the corporation or association.
Terms Used In Connecticut General Statutes 35-36a
- 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.