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

Sec. 36a-222. Appointment of receiver or conservator for Connecticut banks and credit unions. Requirements. Division within department for liquidating or administering banks or credit unions. Appointment of agent. Reports. Salaries, costs and expenses. Exclusive jurisdiction of S…

Sec. 36a-223. (Formerly Sec. 36-36). Duties of conservators and receivers for Connecticut banks and credit unions. Powers. (a) The duty of the conservator shall be to carry on the business of the Connecticut bank or Connecticut credit union, to preserve and conserve the assets an…

Sec. 36a-224. (Formerly Sec. 36-37). Refinancing or reorganization of Connecticut banks and credit unions in receivership. Upon recommendation of the receiver and with the approval of the court having jurisdiction, any Connecticut bank or Connecticut credit union placed in receiv…

Sec. 36a-225. (Formerly Sec. 36-38). Limitation of time for presenting claims to receiver. Receiver to publish notice in newspaper and mail individual notice to depositors, clients, creditors and safe deposit box holders. (a) The Superior Court, upon appointing a receiver of any …

Sec. 36a-226. (Formerly Sec. 36-39). Duties of receiver re inventory and appraisal of assets of Connecticut banks and credit unions in receivership. Conversion of assets. Deposit of money. The receiver shall, as soon after the receiver's appointment as is practicable, make and re…

Sec. 36a-226a. Termination of contracts for bailment, deposit for hire or lease of safes, vaults or safe deposit boxes. Duties of receiver when property not removed. (a) A contract between a trust bank or innovation bank in receivership and another person for bailment, of deposit…

Sec. 36a-227. (Formerly Sec. 36-40). Dissolution of attachments and levies. Posting of notice of injunction or appointment of receiver. (a) All attachments of, or against, the estate of any Connecticut bank or Connecticut credit union, made within sixty days of the date of filing…

Sec. 36a-228. (Formerly Sec. 36-40a). Termination of executory contracts for services or advertising to which Connecticut banks and credit unions are a party. Validity of agreements that diminish interest of the estate in banks' and credit unions' assets. (a) Within six months af…

Sec. 36a-229. (Formerly Sec. 36-41). Immediate delivery of records and other property to receivers and conservators of Connecticut banks and credit unions. Copies. Penalty for neglect or refusal to deliver records and other property. (a) Each affiliate, officer, director, employe…

Sec. 36a-230. (Formerly Sec. 36-43). Claims not barred by statute of limitations against receiver. No claim in favor of a Connecticut bank or Connecticut credit union in receivership, not barred by the statute of limitations at the time of serving the application on the bank or c…

Sec. 36a-231. (Formerly Sec. 36-44). Reports to be filed with Superior Court and commissioner. Payment of administrative expenses. Quarterly report. Objections. Audit of books and records of receivers of Connecticut banks and credit unions. Duties of receiver re audit. (a)(1) The…

Sec. 36a-232. (Formerly Sec. 36-46). Creditor's application for order to receiver. Any creditor of the receivership may apply in writing to the superior court having jurisdiction, for any order to the receiver concerning the receivership, upon giving notice, by service of a copy …

Sec. 36a-233. (Formerly Sec. 36-47). Funds and property not subject to foreign attachment. No part of the funds or property in the possession of a receiver of any Connecticut bank or Connecticut credit union is subject to process of foreign attachment. (1949 Rev., S. 5772; P.A. 7…

Sec. 36a-234. (Formerly Sec. 36-48). Dissolution of injunction against receiver. In any action against the receiver of any Connecticut bank or Connecticut credit union in which an injunction is granted restraining the receiver from disposing of any of the estate, the receiver sha…

Sec. 36a-235. (Formerly Sec. 36-49). Conditions under which transfers of or liens on property or assets of Connecticut banks and credit unions in receivership are voidable. Personal liability of persons who implemented or benefited from voidable transfers or liens. Issuance or le…

Sec. 36a-236. (Formerly Sec. 36-50). Final distribution of receivership accounts. Within sixty days after all the assets of the receivership have been converted into money, the receiver shall apply to the superior court having jurisdiction for an order for the final disposition o…

Sec. 36a-237. (Formerly Sec. 36-51). Distribution of assets of any Connecticut bank, trust bank or innovation bank. Order of priority. Distribution of assets of a Connecticut credit union in event of liquidation. Sequence of distribution. (a) The assets of any Connecticut bank, o…

Sec. 36a-237f. Procedures re filing claims against the estate of trust banks and innovation banks in receivership. Judgment. Appeal. Payment of claims. (a) To receive payment of a claim against the estate of a trust bank or innovation bank in receivership, a person who has a clai…

Sec. 36a-237g. Disposition of fiduciary records re fiduciary accounts of trust banks and innovation banks. (a) All fiduciary records relating to the administration of fiduciary accounts of a trust bank or innovation bank shall be turned over to the successor fiduciary, as defined…

Sec. 36a-237h. Immunity for receivers and conservators of trust banks and innovation banks and their employees. (a) Persons entitled to protection under this section shall be: (1) All receivers or conservators of trust banks or innovation banks, including present and former recei…

Sec. 36a-238. (Formerly Sec. 36-51a). Subrogation of Federal Deposit Insurance Corporation, National Credit Union Administration or successor agencies. Whenever the Federal Deposit Insurance Corporation or National Credit Union Administration, or their successor agencies, pay or …

Sec. 36a-239. (Formerly Sec. 36-52). Discharge of receiver or conservator. (a) After a final disposition of funds as provided in sections 36a-236 and 36a-237, the receiver, upon applying to the superior court having jurisdiction and after such public notice as the court may requi…