Connecticut General Statutes 32-346 – Revolving account
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The corporation shall establish a “Connecticut technology partnership assistance program revolving account”. Any and all references in any general statutes, procedure or legal document to the “phase III assistance program revolving account” shall, on and after July 1, 1995, be deemed to refer to the “Connecticut technology partnership assistance program revolving account”. The account shall be used for the purpose of providing financial aid under section 32-41u.
Terms Used In Connecticut General Statutes 32-346
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.