Connecticut General Statutes 34-602 – Required notice or approval
(a) A domestic or foreign entity that is required to give notice to or obtain the approval of a governmental agency or officer in order to be a party to a merger shall give such notice or obtain such approval in order to be a party to an interest exchange, conversion or domestication.
Terms Used In Connecticut General Statutes 34-602
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Conversion: means a transaction authorized by part IV of this chapter. See Connecticut General Statutes 34-600
- Domestication: means a transaction authorized by part V of this chapter. See Connecticut General Statutes 34-600
- Foreign entity: means an entity other than a domestic entity. See Connecticut General Statutes 34-600
- Interest exchange: means a transaction authorized by part III of this chapter. See Connecticut General Statutes 34-600
- Merger: means a transaction in which two or more merging entities are combined into a surviving entity pursuant to a filing with the Secretary of the State. See Connecticut General Statutes 34-600
(b) Property held for a charitable purpose under the law of this state by a domestic or foreign entity immediately before a transaction under this chapter becomes effective shall not, as a result of the transaction, be diverted from the objects for which it was donated, granted or devised, unless, to the extent required by or pursuant to the law of this state concerning cy pres or other law concerning nondiversion of charitable assets, the entity obtains an appropriate order of the Attorney General specifying the disposition of the property.