Connecticut § 33-844 - Business combination with interested shareholder prohibited for five years unless approved by board of directors.
Full text of Connecticut Connecticut General Statutes § 33-844 — Business combination with interested shareholder prohibited for five years unless approved by board of directors., with citation guidance and answers to common questions.
§ 33-844. Business combination with interested shareholder prohibited for five years unless approved by board of directors.
Sec. 33-844. Business combination with interested shareholder prohibited for five years unless approved by board of directors. (a) Except as provided in section 33-845, notwithstanding anything to the contrary in sections 33-840 to 33-845, inclusive, no resident domestic corporation shall engage in any business combination with any interested shareholder of such resident domestic corporation for a period of five years following such interested shareholder's stock acquisition date unless such business combination or the purchase of stock made by such interested shareholder on such interested shareholder's stock acquisition date is approved by the board of directors of such resident domestic corporation and by a majority of the nonemployee directors of which there shall be at least two, prior to such interested shareholder's stock acquisition date.
(b) If a good faith proposal is made in writing to the board of directors of a resident domestic corporation regarding a business combination, the board of directors shall respond, in writing, within forty-five days or such shorter period, if any, as may be required by the Exchange Act, setting forth its reasons for its decision regarding such proposal. If a good faith proposal to purchase stock is made in writing to the board of directors of a resident domestic corporation, the board of directors, unless it responds affirmatively in writing within forty-five days or such shorter period, if any, as may be required by the Exchange Act, shall be deemed to have disapproved such stock purchase.
(c) The provisions of this section shall be in addition to any other provisions of the general statutes which apply to such business combination.
(P.A. 94-186, S. 145, 215.)
History: P.A. 94-186 effective January 1, 1997.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 33-844
What does Connecticut General Statutes § 33-844 cover?
Section 33-844 ("Business combination with interested shareholder prohibited for five years unless approved by board of directors.") 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 § 33-844?
A common citation format is "Connecticut General Statutes § 33-844" (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 § 33-844 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.