Conn. Gen. Stat. § 33-673

Liability of shareholders

Known as the Connecticut Business Corporation Act

The act spans §§ 33–33 (278 sections).

Applied in 1 court decision — leading case Hyundai-Wai Machine America Corp. v. Rouette (In re Rouette) (2013)

Most recently applied in Hyundai-Wai Machine America Corp. v. Rouette (In re Rouette) (October 2013)

(P.A. 94-186, S. 45, 215; P.A. 96-271, S. 38, 254.) History: P.A. 94-186 effective January 1, 1997; P.A. 96-271 amended Subsec

(a) A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued as provided in section 33-672 or specified in the subscription agreement as provided in section 33-671 .

(b) Unless otherwise provided in the certificate of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation except that he may become personally liable by reason of his own acts or conduct.

Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.