Section 30-6-A4 - Corporation backers(a) Where any corporation appears as the backer on any application for a permit or on any permit, except on an application for an out-of-state shipper's permit or club permit, issued by the department or any corporation, such as a holding company, has a financial interest in the backer, the department requires documentary evidence of the name and address of each stockholder of the corporation, and of any corporation having a financial interest in the backer, and the number of shares of stock issued to each stockholder. No transfer by sale or otherwise of any of the shares of stock of the backer corporation, or the corporation which has a financial interest in the backer, may be made or any additional shares of stock issued without notice to and approval by the department except a corporation whose stock is publicly held and sold on a bona fide stock exchange. In publicly held companies of more than one hundred employees, transfers of stock as a result of a bonafide employee stock benefit shall not be filed with the department. In such cases where approval is required, the corporation backer, or any corporation having a financial interest in the backer, shall send to the department for approval a list showing the existing stockholders and the number of shares held, and the proposed stockholders and the proposed number of shares to be held. Notwithstanding any of the foregoing, the department reserves the right to determine the suitability of any stockholder of any corporate backer or stockholder of a corporation which has a financial interest in a corporate backer.
(b) No person, corporation or group of persons or corporations who, through stock ownership or otherwise, control or have the power to control a permit business of one class shall control or have the power to control a permit business of another class of permit, except as permitted by the Connecticut General Statutes.(c) Repealed, October 28, 1977.Conn. Agencies Regs. § 30-6-A4
Effective November 23, 1982; Amended October 1, 2001