For many reasons, major companies have traditionally
chosen to register their businesses in Delaware. Delaware is highly regarded
for having a comprehensive set of business laws and a skilled judicial system
that is capable of adjudicating the most complex corporate law disputes. As a
result, Delaware generates more than $850
million in corporate tax
revenues every year.
An
Act Concerning the Modernization of Connecticut Corporation Law
is a new initiative signed into law by Governor Malloy on June 5, 2014. The
purpose of this initiative is to develop ways to attract large businesses to
register in Connecticut. The law requires the Chief Court Administrator
to create a special court docket that will adjudicate only corporate law
disputes. The law also authorizes the establishment of the Commission on
Connecticut’s Leadership in Corporation and Business Law, which will be comprised
of lawmakers, attorneys, and other governmental officials, who will discuss
possible strategies and make recommendations. Changes that the Commission could recommend
include revisions to the Connecticut corporate statutes and making more
accessible the corporate records held in the Secretary of State's
office. The Commission will submit a 10 year action plan
due to the legislature in October 2015.
For all of your business law questions, contact the
experienced and knowledgeable business lawyers
of Brown Paindiris &
Scott.
