(a) Neither the directors of Connecticut Innovations, Incorporated nor any person acting on behalf of said corporation executing any notes, bonds, contracts, agreements or other obligations issued pursuant to this chapter shall be liable personally on such notes, bonds, contracts, agreements or obligations, or be subject to any personal liability or accountability by reason of the issuance thereof.
(b) No director shall be personally liable for damage or injury, not wanton or wilful, caused in the performance of his duties and within the scope of his employment. Any person having a complaint for such damage or injury shall present it as a claim against the state under the provisions of chapter 53.
(P.A. 78-357, S. 15, 16; P.A. 79-333; P.A. 88-266, S. 18, 46; P.A. 89-245, S. 17.)
History: P.A. 79-333 added Subsec. (b) re claims against the state and protection of directors from personal liability; P.A. 88-266 substituted “directors” for “members” in Subsec. (a); P.A. 89-245 changed Connecticut Product Development Corporation to Connecticut Innovations, Incorporated.
Structure 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 32-35. - 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 32-39d. - Guarantees of corporation made investment securities.
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 32-39p. - Connecticut 500 Project. Goals. Solicitation of bids.
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 32-41aa. - 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 32-41dd. - 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 32-41k. - Deployment research program.
Section 32-41l. - Energy and environmental technologies deployment center program.
Section 32-41m. - Connecticut educational and job training technologies deployment center programs.
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 32-41q. - 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 32-41t. - 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 32-41z. - 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.