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.

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

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.