House Bill No. 6885
               House Bill No. 6885

              PUBLIC ACT NO. 97-127


AN  ACT  TO  REPEAL INSURANCE CHARTER REQUIREMENTS
THROUGH THE LEGISLATURE.


    Be  it  enacted  by  the  Senate  and House of
Representatives in General Assembly convened:
    Section  33-1035  of  the  general statutes is
repealed and the following is substituted in  lieu
thereof:
    (a)   A   corporation   may  be  formed  under
sections 33-1000 to 33-1290,  inclusive,  for  the
conduct  of  any  affairs  or the promotion of any
purpose which may be  lawfully  carried  on  by  a
corporation  except  that  of  a  bank  and  trust
company,  savings  bank  or   savings   and   loan
association,  provided where, by any other section
or sections of the general statutes, provision  is
made  for  the  formation of a designated class or
classes of corporations, such  corporations  shall
be  formed  under said section or sections and not
under sections 33-1000 to 33-1290, inclusive.
    (b)  [No] EXCEPT AS PROVIDED IN SUBSECTION (f)
OF  THIS  SECTION,  NO  corporation  formed  under
sections  33-1000 to 33-1290, inclusive, shall, or
shall have power to, transact in  this  state  the
business  of  an  insurance company or a surety or
indemnity  company,  railroad  company,  telegraph
company,  gas, electric light or water company, or
of any company requiring the  right  to  take  and
condemn  lands or to occupy the public highways of
this state.
    (c)  Nothing  in  sections 33-1000 to 33-1290,
inclusive,  shall  be  construed  to  authorize  a
corporation  formed under said sections to conduct
any affairs except in compliance with any laws  of
this state regulating or otherwise applying to the
same. The provisions of said sections  govern  all
corporations,  but  notwithstanding the provisions
of said sections, where by law special  provisions
are  made  in  the  case  of a designated class or
classes of corporations  governing  the  corporate
procedure  thereof  in  any  respect,  limiting or
extending the powers thereof, conditioning  action
upon  the  approval of any agency of the state, or
otherwise  prescribing   the   conduct   of   such
corporations,  such  procedure, powers, action and
conduct  shall  be  governed   by   such   special
provisions  whether  or  not such corporations are
formed under said sections.
    (d)  Nothing  in  this  section shall prohibit
the formation  of  a  corporation  under  sections
33-1000  to 33-1290, inclusive, for the conduct of
any affairs or for the promotion of any purpose in
any  other  state  if  not  prohibited by the laws
thereof.
    (e)  Except  as  otherwise provided in section
38a-153, nothing in sections 33-1000  to  33-1290,
inclusive,  other  than  the provisions of section
33-1036,  shall  be  construed  to  apply  to  any
corporation  incorporated  under  any provision of
the special acts, other than a savings bank, which
is  or may be authorized to transact in this state
the business of an insurance company.
    (f)  NO  CORPORATION MAY BE FORMED PURSUANT TO
THIS CHAPTER FOR THE PURPOSE  OF  TRANSACTING  THE
BUSINESS  OF  AN  INSURANCE COMPANY OR A SURETY OR
INDEMNITY COMPANY  UNLESS,  AT  THE  TIME  OF  THE
FILING  OF ITS CERTIFICATE OF INCORPORATION, THERE
IS  ALSO  FILED  A  CERTIFICATE  ISSUED   BY   THE
INSURANCE   COMMISSIONER,   PURSUANT   TO  SECTION
38a-41a,  AUTHORIZING   THE   FORMATION   OF   THE
CORPORATION.  NO  CORPORATION  FORMED  UNDER  THIS
CHAPTER SHALL HAVE THE POWER TO TRANSACT  IN  THIS
STATE  THE  BUSINESS  OF AN INSURANCE COMPANY OR A
SURETY OR INDEMNITY COMPANY UNTIL IT HAS  PROCURED
A  LICENSE  FROM  THE  INSURANCE  COMMISSIONER  IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 38a-41.

Approved June 6, 1997