Title 36a, Title 36a: The Banking Law of Connecticut

Sec. 36a-14. (Formerly Sec. 36-13). Reports to Governor and banks committee. (a) The commissioner shall annually report to the Governor: (1) The condition of all entities required to be periodically examined by the commissioner, with such comments and recommendations as the commi…

Sec. 36a-14a. Quarterly report of revenue collected by department. Not later than thirty days after the close of the first quarter of the fiscal year ending June 30, 2005, and not later than thirty days after the close of each quarter thereafter, the commissioner shall submit a r…

Sec. 36a-15. (Formerly Sec. 36-14). Report of violations of law. The commissioner shall report to the proper prosecuting official each violation of law for which the penalty may be confinement in a penal institution, knowledge of which violation was obtained by the commissioner i…

Sec. 36a-16. (Formerly Sec. 36-63). Reports to commissioner; penalties. (a)(1) Each Connecticut bank shall file with the commissioner such reports of condition and income as are required to be filed with the appropriate federal banking agency on the dates that such reports are re…

Sec. 36a-17. Investigations and examinations. Electronic data processing servicers. Subpoenas. Powers of commissioner. Production of records. (a) The commissioner, in the commissioner's discretion and as often as the commissioner deems necessary to carry out the purposes of appli…

Sec. 36a-18. (Formerly Sec. 36-9f). Information re stock ownership or subscription. Each capital stock Connecticut bank shall provide the commissioner with such information as the commissioner may require regarding the ownership or owners of, or subscription for or subscribers of…

Sec. 36a-19. (Formerly Sec. 36-17). Accounting forms. The commissioner may prescribe such reasonable forms of accounting as will clearly and accurately show the assets, liabilities and earnings of any person required to be periodically examined by the commissioner. (1949 Rev., S.…

Sec. 36a-20. (Formerly Sec. 36-19). Appraisal of real estate. If any person subject to the general supervision of the commissioner owns real property, or if real property taxes on any property mortgaged to secure a loan with any such person are more than one year in arrears, or i…

Sec. 36a-21. (Formerly Sec. 36-16). Information to be confidential. Disclosure. Examination reports. Exemption. (a) Notwithstanding any provision of state law and except as provided in subsections (b) and (d) of this section and subdivision (2) of subsection (a) of section 36a-53…

Sec. 36a-22. (Formerly Sec. 36-21a). Declaratory rulings. (a) No person shall be liable in any civil action for any act done or omitted in good faith in reliance on any declaratory ruling issued by the Department of Banking in accordance with section 4-176, notwithstanding after …

Sec. 36a-23. (Formerly Sec. 36-28a). Bank and credit union holidays. Closing of office in educational institution when not in session. Emergency closings. Opening of temporary offices or other facilities pursuant to an emergency or recovery operations. Temporary waiver of statuto…

Sec. 36a-23a. Designation of Martin Luther King, Jr. Corridors. The Banking Commissioner shall designate seven Martin Luther King, Jr. Corridors to promote secured and unsecured lending in the state. (P.A. 16-65, S. 6; P.A. 24-23, S. 1.) History: P.A. 24-23 replaced “three” with …

Sec. 36a-24. Hearings. (a) The commissioner, in the commissioner's discretion, may hold a hearing in connection with any application filed with the commissioner and otherwise, with respect to any matter within the commissioner's jurisdiction, as the commissioner may determine. In…

Sec. 36a-24a. Failure of critical functions of computer-based information systems owned or used by depository institutions. Section 36a-24a is repealed, effective October 1, 2002. (P.A. 99-18, S. 1, 2; P.A. 02-73, S. 74; S.A. 02-12, S. 1.)

Sec. 36a-24b. System-based licensure and registration. (a) In addition to any other duties imposed upon the commissioner by law, the commissioner is authorized to require persons engaged in a financial services industry subject to the commissioner's jurisdiction to be licensed or…

Sec. 36a-24c. Location of activity pursuant to a license or registration. The Banking Commissioner may, by order, establish a process to permit individuals engaging in an activity pursuant to a license or registration issued by the commissioner under title 36a to conduct such act…

Sec. 36a-25. Office of the Student Loan Ombudsman. Duties. Student loan borrower education course. (a) There is established an Office of the Student Loan Ombudsman, which shall be within the Department of Banking for administrative purposes only, to provide timely assistance to a…

Sec. 36a-26. Deposit index. The Banking Commissioner shall determine the deposit index for each calendar year and publish such deposit index in the Department of Banking's news bulletin and on the department's Internet web site not later than December fifteenth of the prior year.…

Secs. 36a-27 to 36a-29. Reserved for future use. PART II COMMUNITY REINVESTMENT (A) BANKS

Sec. 36a-30. (Formerly Sec. 36-52a). Community reinvestment. General requirements. (a) As used in sections 36a-30 to 36a-33, inclusive, unless the context otherwise requires: (1) “Bank” means any bank or out-of-state bank that maintains in this state a branch as defined in sectio…

Sec. 36a-31. (Formerly Sec. 36-52b). Community reinvestment notice. (a) Except as provided in subsection (d) of this section, until June 30, 1997, each bank shall provide, in the public lobby of each of its offices other than satellite devices, a public notice substantially simil…

Sec. 36a-32. (Formerly Sec. 36-52c). Assessment of banks. Factors to be considered. Community reinvestment performance evaluation. (a) In connection with the examination of a bank under section 36a-17, the commissioner shall assess the record of the performance of the bank in hel…

Sec. 36a-33. (Formerly Sec. 36-52d). Commissioner to prepare lists of banks. The commissioner shall annually prepare and submit to the State Treasurer a list of banks which have received a rating of needs to improve or of substantial noncompliance in connection with the community…

Sec. 36a-34. Findings of commissioner re Community Reinvestment Act compliance, consumer protection law compliance, adequacy of banking services to be provided and anticompetitive effects in connection with certain transaction approvals. (a) As used in subsection (b) of this sect…

Secs. 36a-35 and 36a-36. Reserved for future use. (B) CREDIT UNIONS

Sec. 36a-37. Community credit unions: Definitions. As used in sections 36a-37 to 36a-37e, inclusive: (1) “Assessment area” means one or more of the geographic areas as delineated by a community credit union that (A) consist of one or more metropolitan statistical areas or one or …

Sec. 36a-37a. Community reinvestment: General requirements. (a) Each community credit union shall satisfy its continuing and affirmative obligation to help meet the credit needs of its community, including low-income and moderate-income neighborhoods, consistent with the safe and…

Sec. 36a-37b. Community reinvestment performance evaluation; copies. (a) Each community credit union shall provide to the public upon request copies of the most recent community reinvestment performance evaluation prepared by the commissioner pursuant to section 36a-37a. A commun…

Sec. 36a-37c. Community reinvestment notice. Each community credit union shall provide in the public lobby of its principal office and each of its subsidiary offices in this state a public notice substantially similar to the following: STATE OF CONNECTICUTCOMMUNITY REINVESTMENT N…

Sec. 36a-37d. Community reinvestment performance; effects in connection with certain approvals. The commissioner may consider the community reinvestment performance of a community credit union in connection with (1) an approval of an amendment to the certificate of incorporation …

Sec. 36a-37e. Commissioner to prepare lists of credit unions. The commissioner shall annually prepare and submit to the State Treasurer a list of community credit unions that the commissioner rated in a community reinvestment performance evaluation prepared pursuant to section 36…

Secs. 36a-38 and 36a-39. Reserved for future use. PART III BANK RECORDS. DISCLOSURE OF RECORDS

Sec. 36a-40. (Formerly Sec. 36-2a). Retention of Connecticut bank and credit union records. The commissioner may, by regulation adopted in accordance with chapter 54, prescribe periods of time for the retention of records of any Connecticut bank or Connecticut credit union. Recor…

Sec. 36a-41. (Formerly Sec. 36-9j). Definitions. As used in sections 36a-41 to 36a-45, inclusive: (1) “Financial institution” means a bank, Connecticut credit union, federal credit union, an out-of-state bank that maintains a branch in this state and an out-of-state credit union …

Sec. 36a-42. (Formerly Sec. 36-9k). Disclosure of financial records prohibited; exceptions. (a) A financial institution may not disclose to any person, except to the customer or the customer's duly authorized agent, any financial records relating to such customer unless the custo…

Sec. 36a-43. (Formerly Sec. 36-9l). Disclosure of financial records pursuant to lawful authority. (a) Except as provided in section 36a-44, a financial institution shall disclose financial records pursuant to a lawful subpoena, summons, warrant or court order served upon it if th…

Sec. 36a-44. (Formerly Sec. 36-9m). Exceptions re confidential treatment of customer records. No provision of sections 36a-41 to 36a-45, inclusive, shall be construed to prohibit: (1) The preparation, examination, handling or maintenance of any financial records by any officer, e…

Sec. 36a-44a. Customer protections. Compliance with Gramm-Leach-Bliley Financial Modernization Act. Each financial institution that is a bank, Connecticut credit union, federal credit union, an out-of-state bank that maintains a branch in this state, an out-of-state trust company…

Sec. 36a-45. (Formerly Sec. 36-9n). Violations of financial records disclosure provisions. (a) Any officer or employee of a financial institution who knowingly and wilfully furnishes financial records in violation of section 36a-41, subsection (a) of section 36a-42, section 36a-4…

Secs. 36a-46 to 36a-49. Reserved for future use. PART IV VIOLATIONS OF THE BANKING LAWS

Sec. 36a-50. Enforcement action. Notice and hearing. Civil penalty. Injunction, restraining order and writ. Restitution and disgorgement. Costs. (a)(1) Whenever the commissioner finds as the result of an investigation that any person has violated any provision of the general stat…

Sec. 36a-51. Suspension, revocation or refusal to renew license. Hearings. Surrender or expiration of license. Withdrawal of license application. Exceptions. (a) The commissioner may suspend, revoke or refuse to renew any license issued by the commissioner under any provision of …

Sec. 36a-51a. Removal from office and from employment or retention as independent contractor. Notice and hearing. (a) The Banking Commissioner may order a licensee to remove any individual from office and from employment or retention as an independent contractor in a business sub…

Sec. 36a-52. Cease and desist orders. Notice and hearing. (a) Whenever it appears to the commissioner that any person has violated, is violating or is about to violate any provision of the general statutes within the jurisdiction of the commissioner, or any regulation, rule, or o…

Sec. 36a-52a. Notice to licensees and registrants by personal delivery. Notwithstanding the provisions of subsection (c) of section 4-182, the commissioner may provide notice pursuant to section 4-182 or sections 36a-50 to 36a-52, inclusive, to any person licensed by or registere…

Sec. 36a-53. (Formerly Sec. 36-25). Proceedings by commissioner upon violation of banking laws. Civil penalties. (a) As used in this section, (1) “related person” means a director, officer, employee, independent contractor, manager or general partner, and (2) “Connecticut holding…