CONNECTICUT STATUTES AND CODES
Sec. 32-35. Connecticut Innovations, Incorporated.
Sec. 32-35. Connecticut Innovations, Incorporated. (a) There is hereby created
a body politic and corporate to be known as "Connecticut Innovations, Incorporated".
Such corporation is constituted a public instrumentality and political subdivision of the
state and the exercise by the corporation of the powers conferred in this chapter shall
be deemed and held to be the performance of an essential public and governmental
function. Connecticut Innovations, Incorporated shall not be construed to be a department, institution or agency of the state.
(b) The corporation shall be governed by a board of fifteen directors. Eight members
shall be appointed by the Governor, at least six of whom shall be knowledgeable, and
have favorable reputations for skill, knowledge and experience, in the development of
innovative technology and technological processes including, but not limited to, expertise in academic research, technology transfer and application, the development of technological invention and new enterprise development. Three members shall be the Commissioner of Economic and Community Development, the Commissioner of Higher
Education and the Secretary of the Office of Policy and Management, who shall serve
ex officio and shall have all of the powers and privileges of a member of the board of
directors. Each ex-officio member may designate his deputy or any member of his staff
to represent him at meetings of the corporation with full power to act and vote in his
behalf. Four members shall be appointed as follows: One by the president pro tempore
of the Senate, one by the minority leader of the Senate, one by the speaker of the House
of Representatives and one by the minority leader of the House of Representatives. Each
member appointed by the Governor shall serve at the pleasure of the Governor but no
longer than the term of office of the Governor or until the member's successor is appointed and qualified, whichever is longer. Each member appointed by a member of
the General Assembly shall serve in accordance with the provisions of section 4-1a. A
director shall be eligible for reappointment. The Governor shall fill any vacancy for the
unexpired term of a member appointed by the Governor. The appropriate legislative
appointing authority shall fill any vacancy for the unexpired term of a member appointed
by such authority.
(c) The chairperson of the board shall be appointed by the Governor, with the advice
and consent of both houses of the General Assembly. The directors shall annually elect
one of their number as secretary. The board may elect such other officers of the board
as it deems proper. Members shall receive no compensation for the performance of
their duties hereunder but shall be reimbursed for necessary expenses incurred in the
performance thereof.
(d) Each director of the corporation before entering upon his duties shall take and
subscribe the oath or affirmation required by article eleventh, section 1, of the Constitution. A record of each such oath or affirmation shall be filed in the office of the Secretary
of the State. The board of directors of the corporation shall adopt written procedures,
in accordance with the provisions of section 1-121, for: (1) Adopting an annual budget
and plan of operations, including a requirement of board approval before the budget or
plan may take effect; (2) hiring, dismissing, promoting and compensating employees
of the corporation including an affirmative action policy and a requirement of board
approval before a position may be created or a vacancy filled; (3) purchasing, leasing
or acquiring real and personal property and personal services, including a requirement
of board approval for any nonbudgeted expenditure in excess of five thousand dollars;
(4) contracting for financial, legal, bond underwriting and other professional services,
including a requirement that the corporation solicit proposals at least once every three
years for each such service which it uses; (5) awarding loans, grants and other financial
assistance, including eligibility criteria, the application process and the role played by
the corporation's staff and board of directors and the Department of Economic and
Community Development and including deadlines for the approval or disapproval of
applications for such assistance by the corporation on and after July 1, 1996; and (6)
the use of surplus funds to the extent authorized under this chapter, or other provisions
of the general statutes.
(e) Notwithstanding the provisions of any other law to the contrary, it shall not
constitute a conflict of interest for a trustee, director, partner or officer of any person,
firm or corporation, or any individual having a financial interest in a person, firm or
corporation, to serve as a member of the board of directors of Connecticut Innovations,
Incorporated, provided such trustee, director, partner, officer or individual shall abstain
from deliberation, action or vote by Connecticut Innovations, Incorporated in specific
respect to such person, firm or corporation.
(f) The corporation shall have the authority to contract with the Department of Economic and Community Development for administrative or other services.
(g) As of October 1, 1989, all powers, duties and personnel of the Connecticut
Product Development Corporation shall be transferred to Connecticut Innovations, Incorporated, in accordance with the provisions of section 4-38d. As of October 1, 1989,
all cash, notes, receivables, liabilities, appropriations, authorizations, allocations, and
all other assets and properties of the Connecticut Product Development Corporation
shall be transferred to Connecticut Innovations, Incorporated. Such transfer shall not
affect the validity, enforceability or binding nature of any contract or agreement for
financial aid made by the Connecticut Product Development Corporation under the
authorization of this chapter prior to October 1, 1989.
(1972, P.A. 248, S. 4; P.A. 74-273, S. 1, 2; P.A. 77-614, S. 288, 610; P.A. 79-560, S. 38, 39; P.A. 82-58, S. 1, 2; P.A.
88-225, S. 9, 14; 88-266, S. 14, 46; P.A. 89-245, S. 9; June Sp. Sess. P.A. 93-1, S. 42, 45; P.A. 95-249, S. 3, 4; 95-250, S.
1; P.A. 96-211, S. 1, 5, 6.)
History: P.A. 74-273 revised appointment provisions in Subsec. (b), deleting now obsolete provision re initial appointments and making provision re successors' appointments generally applicable and added Subsec. (e) re status of corporation;
P.A. 77-614 replaced department of commerce with department of economic development in Subsec. (e) and made corporation subject to department "for administrative purposes" rather than "for fiscal and budgetary purposes", effective January
1, 1979; P.A. 79-560 increased number of directors from six to seven, specified that additional member be knowledgeable,
experienced, etc. and replaced previous provision calling for six-year appointments made in even-numbered years with
provision making directors' terms coterminous with governor's term; P.A. 82-58 added provisions re commissioner of
economic development's service as a board member; P.A. 88-225 inserted new Subsec. (e) re when a financial interest
and membership on board of directors of corporation do not constitute a conflict of interest and relettered former Subsec.
(e) as Subsec. (f); P.A. 88-266 amended Subsec. (a) to specify that corporation is a body "politic" and is a public instrumentality and political subdivision of the state where previously was considered "quasi-public", adding reference to its governmental function and providing that corporation shall not be construed to be department, institution or agency of state, amended
Subsec. (b) to require that board members' terms be staggered instead of coterminous with governor's term, amended
Subsec. (c) to require board chairperson to be appointed by governor with advice and consent of general assembly instead
of elected by board, and amended Subsec. (d) by adding provisions requiring adoption of written procedures; P.A. 89-245
renamed Connecticut Product Development Corporation as Connecticut Innovations, Incorporated, added four members
to the board of directors and made certain changes to the qualifications of board members, required the commissioner of
higher education and the secretary of the office of policy and management to serve as ex-officio board members, made
certain technical changes, and added Subsec. (g) re transfer of powers, duties and personnel from Connecticut Product
Development Corporation to Connecticut Innovations, Incorporated; June Sp. Sess. P.A. 93-1 amended Subsec. (c) to add
four legislative appointments to the board of directors, to revise length of terms of gubernatorial appointees, to specify
term length for legislative appointees and to clarify procedure for filling unexpired terms, effective July 1, 1993; P.A. 95-249 amended Subsec. (d)(5) to require board to adopt procedures for deadlines for approving or disapproving assistance
applications, effective July 1, 1995; P.A. 95-250 and P.A. 96-211 replaced Commissioner and Department of Economic
Development with Commissioner and Department of Economic and Community Development.
See Sec. 4-38f for definition of "administrative purposes only".
Cited. 167 C. 111.
Subsec. (d):
Cited. 230 C. 24.