Conn. Gen. Stat. § 32-36
Perpetual succession. Termination
Connecticut · General Statutes of Connecticut Chapter 581 — Innovation Capital Act of 1989. Connecticut Innovations, Incorporated · Status: effective
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- Conn. Gen. Stat. § 32-36, Perpetual succession. Termination, Connecticut, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2197922
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Full text
The corporation shall have perpetual succession and shall adopt, amend and repeal bylaws for the conduct of its affairs. Such succession shall continue until the existence of the corporation is terminated by law, provided no such termination shall affect any outstanding contractual obligation of the corporation to assist any person and the state shall succeed to the obligations of the corporation under such contract. Upon termination of the corporation its rights and properties shall pass to and be vested in the state.