Connecticut § 33-187 - Capital stock; franchise tax.
Full text of Connecticut Connecticut General Statutes § 33-187 — Capital stock; franchise tax., with citation guidance and answers to common questions.
§ 33-187. Capital stock; franchise tax.
Sec. 33-187. Capital stock; franchise tax. The amount of capital stock of any cooperative association organized under the provisions of this chapter shall be fixed by its articles of association at a sum not exceeding fifty million dollars par value, and shall be subject to the same franchise tax as the capital stock of other corporations organized under the general laws, which tax shall be paid to the Secretary of the State. The association may increase or diminish the amount and number of shares of such stock at any meeting of the member shareholders specially called for such purpose, but no shares shall be issued at less than their par value. Not later than five days after the passage of any vote increasing or diminishing such stock, such association shall cause a certificate setting forth such vote, signed by a majority of the board of directors, to be recorded in the office of the Secretary of the State.
(1949 Rev., S. 5297; September, 1957, P.A. 5, S. 1; 1967, P.A. 277, S. 3; P.A. 85-78; P.A. 19-65, S. 4.)
History: 1967 act deleted requirement that certificate of vote to increase or diminish stock be filed in town clerk's office of town where association's business is carried on; P.A. 85-78 increased limit on value of capital stock of cooperative association from $500,000 to $5,000,000; P.A. 19-65 replaced “five million dollars” with “fifty million dollars par value”, replaced “stockholders” with “member shareholders”, replaced “board of managers” with “board of directors” and made technical changes.
See Sec. 33-618 re franchise tax on stock corporations.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 33-187
What does Connecticut General Statutes § 33-187 cover?
Section 33-187 ("Capital stock; franchise tax.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 33-187?
A common citation format is "Connecticut General Statutes § 33-187" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 33-187 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.