Connecticut General Statutes
Chapter 581 - Innovation Capital Act of 1989. Connecticut Innovations, Incorporated
Section 32-39c. - Limitation on liability of Connecticut Innovations, Incorporated and certain officers with respect to affiliates of the corporation.

(a) With respect to any affiliate created pursuant to section 32-39, liability shall be limited solely to the assets and revenues or other resources of any such affiliate and without recourse liability to Connecticut Innovations, Incorporated, its other funds or any other assets of the corporation, except to the extent of any express written guarantees by the corporation or any investments made or committed to by the corporation.

(b) The provisions of sections 32-47 and 1-125 shall apply to any officer, director, designee or employee serving at the request of the corporation as a member, director or officer or advisor of any such affiliate. Any such person so appointed shall not be personally liable for the debts, obligations or liabilities of any such affiliate as provided in said section 1-125. Any affiliate shall and the corporation may provide the indemnification to protect, save harmless and indemnify such officer, director, designee or employee as provided in said section 1-125.
(P.A. 98-203, S. 5, 13.)
History: P.A. 98-203 effective June 8, 1998.

Structure Connecticut General Statutes

Connecticut General Statutes

Title 32 - Commerce and Economic and Community Development

Chapter 581 - Innovation Capital Act of 1989. Connecticut Innovations, Incorporated

Section 32-32. - Short title: Innovation Capital Act of 1989.

Section 32-33. - Legislative finding.

Section 32-34. - Definitions.

Section 32-35. - Connecticut Innovations, Incorporated.

Section 32-36. - Perpetual succession. Termination.

Section 32-37. - Board of directors.

Section 32-38. - Chief executive officer.

Section 32-39. - Corporate purpose; powers.

Section 32-39a and 32-39b. - Powers re investments during early stage of ventures. Powers re financial aid for marketing innovative services.

Section 32-39c. - Limitation on liability of Connecticut Innovations, Incorporated and certain officers with respect to affiliates of the corporation.

Section 32-39d. - Guarantees of corporation made investment securities.

Section 32-39e. - Development of new or experimental technologies, products or processes. Procurement for state agencies. Program to recognize state agencies.

Section 32-39f. - CTNext. Purposes. Board of directors. Executive director.

Section 32-39g. - CTNext. Powers.

Section 32-39h. - CTNext. Procedures.

Section 32-39i. - CTNext Fund established. Uses.

Section 32-39j. - Definitions.

Section 32-39k. - Innovation place program. Purposes.

Section 32-39l. - *(See end of section for amended version of subsection (a) and effective date.) Planning grants-in-aid. Innovation place designation. Applications. Public hearing.

Section 32-39m. - Innovation place designation applications approval. Award of grants-in-aid. Considerations. Report.

Section 32-39n. - Venture or investment agreements entered into by Connecticut Innovations, Incorporated.

Section 32-39o. - Forgiveness of received state assistance for participation in CTNext mentorship network.

Section 32-39p. - Connecticut 500 Project. Goals. Solicitation of bids.

Section 32-39q. - Assessment of innovation and entrepreneurship in the state. Audits and analyses by grant recipient. Report. Application procedure.

Section 32-39r. - Financial assistance priority for entities located in designated innovation places.

Section 32-39s. - Innovation and entrepreneurship at public and independent institutions of higher education. Working group. Master plan development.

Section 32-39t. - Higher Education Entrepreneurship Advisory Committee. Membership. Applications. Recommendation of approval.

Section 32-39u. - Start-up businesses in designated innovation place located in a single municipality. Grant-in-aid program.

Section 32-39v. - Internet web site re Connecticut-based start-up businesses. Requirements. Promotion of web site.

Section 32-39w. - Assistance with state strategic economic planning.

Section 32-39x. - Entrepreneurs-in-Residence program. Proof of concept fund.

Section 32-39y. - Recapitalization of innovation place program. Bond authorization.

Section 32-40. - Applications for financial aid.

Section 32-40a. - Advanced technology centers; purposes. Applications to Connecticut Innovations, Incorporated for state funding.

Section 32-40b. - State funding for advanced technology centers; considerations in approval process by Connecticut Innovations, Incorporated.

Section 32-40c. - State funding for any advanced technology center to be approved only when funds from other sources are at least equal to the state funds.

Section 32-41. - Bond issue.

Section 32-41a. - Connecticut Innovations, Incorporated Fund. Use of funds or revenues of the corporation.

Section 32-41aa. - Connecticut Bioscience Innovation Fund. Definitions.

Section 32-41b. - Bond issue for high technology products. Loan interest rates.

Section 32-41bb. - Bioscience Innovation Advisory Committee.

Section 32-41cc. - Connecticut Bioscience Innovation Fund. Establishment. Financial assistance. Report.

Section 32-41dd. - Bond authorization for Connecticut Bioscience Innovation Fund.

Section 32-41g. - Short title: Technology Deployment Act of 1993.

Section 32-41h. - Legislative finding.

Section 32-41i. - Definitions.

Section 32-41j. - Manufacturing application center program.

Section 32-41jj. (Formerly Sec. 19a-32d). - Regenerative medicine research: Definitions. Prohibition on human cloning. Disposition of embryos or embryonic stem cells following infertility treatment. Written consent required for donations. Embryonic s...

Section 32-41k. - Deployment research program.

Section 32-41kk. (Formerly Sec. 19a-32e). - Regenerative Medicine Research Fund. Application for financial assistance. Available funding.

Section 32-41l. - Energy and environmental technologies deployment center program.

Section 32-41ll. (Formerly Sec. 19a-32f). - Regenerative Medicine Research Advisory Committee. Membership. Duties.

Section 32-41m. - Connecticut educational and job training technologies deployment center programs.

Section 32-41mm. (Formerly Sec. 19a-32g). - Peer review of applications for financial assistance. Qualifications and duties of peer reviewers. Rating and scoring guidelines.

Section 32-41n. - Critical technologies grant program.

Section 32-41nn. - Bond authorization for Regenerative Medicine Research Fund.

Section 32-41o. - Bond issue for technology deployment.

Section 32-41oo. - Program to incentivize formation of new venture capital funds.

Section 32-41p. - Workplace center of excellence program.

Section 32-41pp. - Program to encourage development of technologies and techniques concerning crumbling concrete foundations.

Section 32-41q. - Critical industries development account. Purpose. Regulations.

Section 32-41qq. - Plan to collect data re crumbling concrete foundations.

Section 32-41r. - Short title: Economic Recovery Act of 1996.

Section 32-41s. - Bioscience, biotechnology, pharmaceutical and photonics businesses. Benefits. Regulations.

Section 32-41t. - High technology research and development program: Definitions.

Section 32-41u. - High technology research and development program: Establishment and purpose.

Section 32-41v. - Connecticut New Opportunities Fund.

Section 32-41w. - Early-stage venture capital program.

Section 32-41x. - Preseed financing account and program.

Section 32-41y. - Connecticut Bioscience Collaboration program. Connecticut Bioscience Collaboration Fund.

Section 32-41z. - Bond issue for the Connecticut Bioscience Collaboration program.

Section 32-42. - Examination. Audits.

Section 32-43. - State pledge.

Section 32-44. - Powers to be interpreted broadly.

Section 32-45. - Inconsistent provisions of law.

Section 32-46. - Tax exemption.

Section 32-47. - Personal liability of directors or persons acting on behalf of the corporation.

Section 32-47a. - Business plan. Report.