SB 1043 — AN ACT CONCERNING THE HARTFORD COURANT.

Senate General Assembly RaisedFile Bill No.

1043368 January Session, 2021 LCOSenate Bill No.

45781043 ReferredtoCommitteeonINSURANCESenate, ANDREALApril ESTATE8, Introduced2021 by:The Committee on Insurance and Real Estate reported through SEN.

(INS)LESSER ANof ACTthe CONCERNING9th THEDist., HARTFORDChairperson COURANT.of the Committee on the part of the Senate, that the bill ought to pass.

AN ACT CONCERNING THE HARTFORD COURANT.

The court may award reasonable attorney's fees and costs incurred to the prevailing partySB1043 in/ suchFile action.No.

LCO368 45781 \\PRDFS1\SCOUSERS\FORZANOF\WS\2021SB-01043-R01SB1043 ofFile 2 SB.docx Raised Bill No.

1043368 Thisparty actin shallsuch takeaction. effect as follows and shall amend the following sections:

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Section 1 from passage New section INS Joint Favorable SB1043 / File No.

368 2 SB1043 File No.

368 The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of the General Assembly, solely for purposes of information, summarization and explanation and do not represent the intent of the General Assembly or either chamber thereof for any purpose.

In general, fiscal impacts are based upon a variety of informational sources, including the analyst’s professional knowledge.

Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.

OFA Fiscal Note State Impact:

None Municipal Impact:

None Explanation The bill allows the court to awardreasonableattorney'sfeesandcosts to the prevailing party in lawsuits.

This is not anticipated to result in a fiscal impact to the state or municipalities as any costs incurred for a suit would be reimbursed.

The Out Years State Impact:

None Municipal Impact:

None SB1043 / File No.

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368 OLR Bill Analysis SB 1043 AN ACT CONCERNING THE HARTFORD COURANT.

SUMMARY This bill limits the ability of the Hartford Courant Company, incorporated by special act in 1887, and any of its legal successors, to incur debt or issue dividends by requiring that it do so only if it is in the public interest.

The legal effect of this limitation is unclear.

The bill also allows the Attorney General or any entity or individual who has been a paid subscriber to the Courant for at least one year to apply to the Superior Court for related injunctive relief.

Under the bill, the court may award reasonable attorney’s fees and costs incurred by the prevailing party.

EFFECTIVE DATE:

Upon passage BACKGROUND Hartford Courant Company SA 92 (1887) established The Hartford Courant Company and allowed it to issue stock and appoint directors.

The special act has been amended by the General Assembly at least six times since then, primarily to increase the number of directors or the amount of capital stock the company could issue.

It was last amended in 1951.

COMMITTEE ACTION Insurance and Real Estate Committee Joint Favorable Yea 12 Nay 6 (03/22/2021) SB1043 / File No.

368 4