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

Sec. 36a-625. Short title: Connecticut Business and Industrial Development Corporation Act. Sections 36a-625 to 36a-634, inclusive, shall be known and may be cited as the “Connecticut Business and Industrial Development Corporation Act”. (P.A. 93-382, S. 56, 69; P.A. 94-122, S. 2…

Sec. 36a-626. Definitions. As used in sections 36a-625 to 36a-634, inclusive, unless the context otherwise requires: (1) “Business and industrial development corporation” means a person approved or seeking approval by the federal Small Business Administration as a participating l…

Sec. 36a-627. License required. Exemptions. (a) No person shall engage in the business of a business and industrial development corporation as a participating lender under the loan guarantee programs of the federal Small Business Administration in this state without having receiv…

Sec. 36a-628. Application. Fee. Examination. Criminal history records check. (a) An application for a license shall be in writing upon forms to be furnished by the commissioner and shall contain the full name and address of the applicant and, if the applicant is a corporation, ea…

Sec. 36a-629. Safe and sound business practice required. (a) Each licensee shall transact its business in a safe and sound manner and shall maintain itself in a safe and sound condition. (b) No licensee or the directors or officers of such licensee, if such licensee is a corporat…

Sec. 36a-630. Licensees to provide financing and management assistance to small businesses. Each licensee shall use its best efforts to provide financing assistance to small business firms in cooperation with the federal Small Business Administration pursuant to Section 7(a) of t…

Sec. 36a-631. Books and records. Annual financial reports. (a) Each licensee shall make and keep such books, accounts and other records in such form and in such manner as the commissioner may by regulation or order require. All records so required shall be kept at such place and …

Sec. 36a-632. Jurisdiction of Banking Commissioner. Each licensee shall be an institution subject to the jurisdiction of the commissioner for purposes of sections 36a-17 and 36a-53. (P.A. 93-382, S. 64, 69; P.A. 94-122, S. 292, 340.) History: P.A. 93-382 effective July 1, 1993; P…

Sec. 36a-633. License fee. Costs of examination to be borne by applicants. Automatic suspension of license or renewal license. Notice. Opportunity for hearing. (a) Each applicant for a license, at the time of making such application, shall pay to the commissioner a nonrefundable …

Sec. 36a-634. Regulations. The commissioner shall adopt, pursuant to chapter 54, such regulations as may be necessary to carry out the provisions of sections 36a-625 to 36a-633, inclusive. (P.A. 93-382, S. 66, 69.) History: P.A. 93-382 effective July 1, 1993.

Sec. 36a-635. Reserved for future use. PART VIII INTERNATIONAL TRADE AND INVESTMENTCORPORATIONS

Sec. 36a-636. Defintions. As used in this section and sections 36a-636a to 36a-636f, inclusive, unless the context otherwise requires: (1) “International trade and investment corporation” means a person, as defined in section 36a-2, approved or seeking approval by the Export-Impo…

Sec. 36a-636a. License. (a) The Banking Commissioner may issue a license to any international trade and investment corporation that submits an application pursuant to subsection (b) of this section and meets the requirements of this section and sections 36a-636b to 36a-636e, incl…

Sec. 36a-636b. Duties of licensees. (a) Each licensee shall use its best efforts to provide financing in conjunction with, and fulfill the expectations of, the federal financing guarantee programs in which the licensee participates. (b) Each licensee shall transact its business i…

Sec. 36a-636c. Books and records. Annual report. (a) Each licensee shall make and keep such books, accounts and other records in such form and in such manner as the commissioner may by regulation or order require. (b) Each licensee shall, not more than ninety days after the close…

Sec. 36a-636d. Licensees subject to jurisdiction of commissioner. Each licensee shall be an institution subject to the jurisdiction of the commissioner for purposes of sections 36a-17 and 36a-53. (P.A. 16-65, S. 69.) History: P.A. 16-65 effective May 26, 2016.

Sec. 36a-636e. License fees and expenses. Expiration and renewal. Automatic suspension. Surrender or termination of license. (a) Each applicant for a license, at the time of making such application, shall pay to the commissioner a nonrefundable license fee of two thousand five hu…

Sec. 36a-636f. Regulations. The commissioner may adopt regulations, in accordance with the provisions of chapter 54, to administer the provisions of sections 36a-636 to 36a-636e, inclusive. (P.A. 16-65, S. 71.) History: P.A. 16-65 effective May 26, 2016.