Title 36a — Title 36a: The Banking Law of Connecticut
12 chapters · 703 sections in this title.
Conn. Gen. Stat. § 36a-460 (Formerly Sec. 36-211). Losses. Reduction of liabilities.
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Sec. 36a-460. (Formerly Sec. 36-211). Losses. Reduction of liabilities. Section 36a-460 is repealed, effective October 1, 2002. (1949 Rev., S. 5922; P.A. 77-179, S. 13; P.A. 85-415, S. 21; P.A. 94-122, S. 215, 340; P.A. 02-73, S. 86.)
Conn. Gen. Stat. § 36a-460a Corporate Connecticut credit union.
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Sec. 36a-460a. Corporate Connecticut credit union. (a) A single corporate Connecticut credit union may be organized and operated as a Connecticut credit union under the provisions of sections 36a-435a to 36a-472a, inclusive, and shall be subject to the provisions of said sections…
Conn. Gen. Stat. § 36a-461 (Formerly Sec. 36-213). Deposit of funds; withdrawals. Registration of securities; inspection. Bonding of officers, employees and authorized agents.
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Sec. 36a-461. (Formerly Sec. 36-213). Deposit of funds; withdrawals. Registration of securities; inspection. Bonding of officers, employees and authorized agents. Section 36a-461 is repealed, effective October 1, 2002. (1949 Rev., S. 5924; 1951, 1953, 1955, S. 2749d; 1961, P.A. 1…
Conn. Gen. Stat. § 36a-461a Credit union service organizations.
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Sec. 36a-461a. Credit union service organizations. (a) With the approval of the commissioner and in accordance with subsection (d) of section 36a-459a, a Connecticut credit union may establish a Connecticut credit union service organization by itself or jointly with one or more o…
Conn. Gen. Stat. § 36a-462 (Formerly Sec. 36-214). Regulations re conduct of Connecticut credit unions, enforcement of chapter and establishment of rates paid as dividends.
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Sec. 36a-462. (Formerly Sec. 36-214). Regulations re conduct of Connecticut credit unions, enforcement of chapter and establishment of rates paid as dividends. Section 36a-462 is repealed, effective October 1, 2002. (1949 Rev., S. 5925; 1967, P.A. 591, S. 5; P.A. 77-179, S. 15; P…
Conn. Gen. Stat. § 36a-462a Establishment of branch in this state or outside state by Connecticut credit union. Application.
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Sec. 36a-462a. Establishment of branch in this state or outside state by Connecticut credit union. Application. (a)(1) No Connecticut credit union shall establish a branch in this state or outside of this state unless prior to such establishment the credit union has filed with th…
Conn. Gen. Stat. § 36a-462b Establishment of branch in this state by out-of-state, state-chartered credit union. Expansion of field of membership.
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Sec. 36a-462b. Establishment of branch in this state by out-of-state, state-chartered credit union. Expansion of field of membership. (a)(1) An out-of-state, state-chartered credit union may, with the prior written approval of the commissioner, establish a branch in this state, p…
Conn. Gen. Stat. § 36a-463 (Formerly Sec. 36-215). Reports to commissioner. Net worth restoration plan. Records. Fees.
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Sec. 36a-463. (Formerly Sec. 36-215). Reports to commissioner. Net worth restoration plan. Records. Fees. Section 36a-463 is repealed, effective October 1, 2002. (1949 Rev., S. 5926; 1951, S. 2751d; February, 1965, P.A. 268; P.A. 76-172, S. 2, 5; P.A. 85-415, S. 7; P.A. 89-251, S…
Conn. Gen. Stat. § 36a-463a Audit report and net worth restoration plan by out-of-state, state-chartered or federally-chartered credit union that maintains branch in this state.
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Sec. 36a-463a. Audit report and net worth restoration plan by out-of-state, state-chartered or federally-chartered credit union that maintains branch in this state. (a) The commissioner may require any out-of-state, state-chartered or federally-chartered credit union that maintai…
Conn. Gen. Stat. § 36a-463b Relocation of main office of Connecticut credit union with approval of commissioner.
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Sec. 36a-463b. Relocation of main office of Connecticut credit union with approval of commissioner. (a) With the approval of the commissioner, a Connecticut credit union may relocate its main office anywhere within the state. (b) The commissioner, before granting an approval unde…
Conn. Gen. Stat. §§ 36a-464 to 36a-468 (Formerly Secs. 36-219 to 36-221, 36-223a). Termination. Distribution of assets upon liquidation. No exemption from taxation. License required of other entities. Conversion of Connecticut credit union into federal or out-of-state credit union.
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Secs. 36a-464 to 36a-468. (Formerly Secs. 36-219 to 36-221, 36-223a). Termination. Distribution of assets upon liquidation. No exemption from taxation. License required of other entities. Conversion of Connecticut credit union into federal or out-of-state credit union. Sections 3…
Conn. Gen. Stat. § 36a-468a Mergers.
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Sec. 36a-468a. Mergers. (a) With the approval of the commissioner, a Connecticut credit union may merge with a Connecticut credit union, a federal credit union or an out-of-state credit union in accordance with the requirements of this section. In the case of a merger with an out…
Conn. Gen. Stat. § 36a-468b Conversion of Connecticut credit union into federal credit union.
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Sec. 36a-468b. Conversion of Connecticut credit union into federal credit union. (a) A Connecticut credit union that has been in existence and continuously operating for at least five years may convert into a federal credit union upon the approval of the conversion by the commiss…
Conn. Gen. Stat. §§ 36a-469 (Formerly Sec 36-223b) and 36a-469a. Conversion of federal or out-of-state credit union into Connecticut credit union. Conversion of Connecticut or federal credit union into mutual savings bank, mutual savings and loan association or mutual community bank.
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Secs. 36a-469 (Formerly Sec. 36-223b) and 36a-469a. Conversion of federal or out-of-state credit union into Connecticut credit union. Conversion of Connecticut or federal credit union into mutual savings bank, mutual savings and loan association or mutual community bank. Sections…
Conn. Gen. Stat. § 36a-469b Conversion of federal or out-of-state credit union into Connecticut credit union.
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Sec. 36a-469b. Conversion of federal or out-of-state credit union into Connecticut credit union. (a) A federal credit union or an out-of-state credit union may convert into a Connecticut credit union by (1) complying with all federal requirements or requirements of the chartering…
Conn. Gen. Stat. § 36a-469c Conversion of Connecticut or federal credit union into mutual savings bank, mutual savings and loan association or mutual community bank.
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Sec. 36a-469c. Conversion of Connecticut or federal credit union into mutual savings bank, mutual savings and loan association or mutual community bank. (a)(1) Any Connecticut credit union or federal credit union may convert into a mutual savings bank, a mutual savings and loan a…
Conn. Gen. Stat. § 36a-470 (Formerly Sec. 36-223c). Mergers.
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Sec. 36a-470. (Formerly Sec. 36-223c). Mergers. Section 36a-470 is repealed, effective October 1, 2002. (1969, P.A. 545, S. 1; 1971, P.A. 404, S. 1; P.A. 78-121, S. 105, 113; P.A. 82-139, S. 2, 3; P.A. 83-229, S. 4–6; P.A. 85-93, S. 1, 2; 85-415, S. 29; P.A. 91-357, S. 51, 78; P.…
Conn. Gen. Stat. § 36a-470a Termination.
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Sec. 36a-470a. Termination. (a) A Connecticut credit union may terminate its corporate existence and be dissolved in accordance with a plan of dissolution as provided in this section. (b) Within three days after a majority of the governing board has adopted a plan of dissolution …
Conn. Gen. Stat. § 36a-471 (Formerly Sec. 36-223d). Sale of assets.
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Sec. 36a-471. (Formerly Sec. 36-223d). Sale of assets. Section 36a-471 is repealed, effective October 1, 2002. (P.A. 81-207, S. 5; P.A. 85-415, S. 33; P.A. 93-59, S. 6, 8; P.A. 94-122, S. 226, 340; P.A. 02-73, S. 86.)
Conn. Gen. Stat. § 36a-471a Regulations re conduct of Connecticut credit unions, enforcement of chapter and establishment of rates paid as dividends.
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Sec. 36a-471a. Regulations re conduct of Connecticut credit unions, enforcement of chapter and establishment of rates paid as dividends. The commissioner may adopt such regulations in accordance with the provisions of chapter 54 and make such findings, consistent with sections 36…
Conn. Gen. Stat. § 36a-472 (Formerly Sec. 36-223e). Out-of-state credit union doing business in this state.
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Sec. 36a-472. (Formerly Sec. 36-223e). Out-of-state credit union doing business in this state. Section 36a-472 is repealed, effective October 1, 2002. (P.A. 85-208, S. 1, 3; P.A. 87-9, S. 2, 3; P.A. 94-122, S. 227, 340; P.A. 99-36, S. 20; P.A. 02-73, S. 86.)
Conn. Gen. Stat. § 36a-472a No exemption from taxation.
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Sec. 36a-472a. No exemption from taxation. Nothing in sections 36a-435a to 36a-472a, inclusive, shall be construed to exempt Connecticut credit unions organized under said sections 36a-435a to 36a-472a, inclusive, from taxation under the provisions of chapter 208. (P.A. 02-73, S.…
Conn. Gen. Stat. §§ 36a-473 and 36a-474 (Formerly Secs 36-223f and 36-224) and 36a-475. Reports and examination of out-of-state credit unions doing business in this state; net worth restoration plan; revocation or suspension of approval. Exceptions. Credit union service organizations; shared service centers.
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Secs. 36a-473 and 36a-474 (Formerly Secs. 36-223f and 36-224) and 36a-475. Reports and examination of out-of-state credit unions doing business in this state; net worth restoration plan; revocation or suspension of approval. Exceptions. Credit union service organizations; shared …
Conn. Gen. Stat. § 36a-476 Compliance with federal Currency and Foreign Transactions Reporting Act.
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Sec. 36a-476. Compliance with federal Currency and Foreign Transactions Reporting Act. Each Connecticut credit union shall comply with the applicable provisions of the Currency and Foreign Transactions Reporting Act, 31 USC Section 5311 et seq., as from time to time amended, and …
Conn. Gen. Stat. §§ 36a-477 to 36a-484 36a-477 to 36a-484
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Secs. 36a-477 to 36a-484. Reserved for future use.
Conn. Gen. Stat. § 36a-485 (Formerly Sec. 36-440). Definitions.
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Sec. 36a-485. (Formerly Sec. 36-440). Definitions. As used in this section and sections 36a-486 to 36a-498e, inclusive, 36a-498h, 36a-534a and 36a-534b, unless the context otherwise requires: (1) “Advance fee” means any consideration paid or given, directly or indirectly, by a co…
Conn. Gen. Stat. § 36a-486 (Formerly Sec. 36-440a). Licenses required. Exemptions. Prohibited advertisements. Violations. Temporary authority to act as mortgage loan originator.
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Sec. 36a-486. (Formerly Sec. 36-440a). Licenses required. Exemptions. Prohibited advertisements. Violations. Temporary authority to act as mortgage loan originator. (a) No person shall engage in the business of making residential mortgage loans or act as a mortgage broker in this…
Conn. Gen. Stat. § 36a-487 (Formerly Sec. 36-440b). Exemptions from licensure.
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Sec. 36a-487. (Formerly Sec. 36-440b). Exemptions from licensure. (a) The following are exempt from licensing as a mortgage lender, mortgage correspondent lender or mortgage broker under sections 36a-485 to 36a-498e, inclusive, 36a-534a and 36a-534b: (1) Any bank, out-of-state ba…
Conn. Gen. Stat. § 36a-488 (Formerly Sec. 36-440c). Mortgage lender, mortgage correspondent lender, mortgage broker, mortgage loan originator, loan processor, underwriter and lead generator licenses. Requirements.
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Sec. 36a-488. (Formerly Sec. 36-440c). Mortgage lender, mortgage correspondent lender, mortgage broker, mortgage loan originator, loan processor, underwriter and lead generator licenses. Requirements. (a)(1) The commissioner shall not issue a mortgage lender license, a mortgage c…
Conn. Gen. Stat. § 36a-489 (Formerly Sec. 36-440d). Licenses: Issuance; denial; renewal; suspension; financial responsibility; withdrawal or abandonment of application.
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Sec. 36a-489. (Formerly Sec. 36-440d). Licenses: Issuance; denial; renewal; suspension; financial responsibility; withdrawal or abandonment of application. (a)(1) The commissioner shall not issue an initial license for a mortgage lender, mortgage correspondent lender or mortgage …
Conn. Gen. Stat. § 36a-489a Prelicensing education, written test and annual continuing education requirements.
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Sec. 36a-489a. Prelicensing education, written test and annual continuing education requirements. (a)(1) In order to meet the prelicensing education and testing requirements referred to in section 36a-489, an individual shall complete: (A) At least twenty hours of education appro…
Conn. Gen. Stat. § 36a-490 (Formerly Sec. 36-440e). License requirements. Request to surrender license. Requirements for filing information with system.
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Sec. 36a-490. (Formerly Sec. 36-440e). License requirements. Request to surrender license. Requirements for filing information with system. (a)(1) Any licensee who intends to permanently cease engaging in the business of making residential mortgage loans or acting as a mortgage b…
Conn. Gen. Stat. § 36a-491 (Formerly Sec. 36-440f). Expiration of licenses. Applications for renewal. Fees.
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Sec. 36a-491. (Formerly Sec. 36-440f). Expiration of licenses. Applications for renewal. Fees. (a) Each mortgage lender, mortgage correspondent lender, mortgage broker, lead generator, mortgage loan originator and loan processor or underwriter license shall expire at the close of…
Conn. Gen. Stat. § 36a-492 (Formerly Sec. 36-440g). Surety bond required. Cancellation of bond. Automatic suspension of license. Notices.
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Sec. 36a-492. (Formerly Sec. 36-440g). Surety bond required. Cancellation of bond. Automatic suspension of license. Notices. (a)(1) Each licensed mortgage lender, mortgage correspondent lender and mortgage broker shall file with the commissioner a single surety bond, written by a…
Conn. Gen. Stat. § 36a-493 (Formerly Sec. 36-440h). Records to be maintained by licensee.
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Sec. 36a-493. (Formerly Sec. 36-440h). Records to be maintained by licensee. (a) Each mortgage lender, mortgage correspondent lender and mortgage broker licensee, and each bona fide nonprofit organization exempt from licensure under subdivision (2) of subsection (b) of section 36…
Conn. Gen. Stat. § 36a-494 (Formerly Sec. 36-440i). Suspension, revocation or refusal to renew license or taking other action. Removal from office and from employment or retention. Temporary order to cease business.
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Sec. 36a-494. (Formerly Sec. 36-440i). Suspension, revocation or refusal to renew license or taking other action. Removal from office and from employment or retention. Temporary order to cease business. (a)(1) The commissioner may suspend, revoke or refuse to renew any mortgage l…
Conn. Gen. Stat. § 36a-495 (Formerly Sec. 36-440j). Regulations.
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Sec. 36a-495. (Formerly Sec. 36-440j). Regulations. Section 36a-495 is repealed, effective October 1, 2002. (P.A. 85-399, S. 11; P.A. 99-36, S. 30; P.A. 02-111, S. 51.)
Conn. Gen. Stat. § 36a-496 (Formerly Sec. 36-440k). Applications and referrals from unlicensed mortgage brokers or mortgage loan originators.
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Sec. 36a-496. (Formerly Sec. 36-440k). Applications and referrals from unlicensed mortgage brokers or mortgage loan originators. No person engaged in the business of making residential mortgage loans in this state, whether licensed in accordance with the provisions of sections 36…
Conn. Gen. Stat. § 36a-497 (Formerly Sec. 36-440l). Advertisements.
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Sec. 36a-497. (Formerly Sec. 36-440l). Advertisements. (a) No mortgage lender licensee, mortgage correspondent lender licensee or mortgage broker licensee shall: (1) Advertise or cause to be advertised in this state, any residential mortgage loan in which such person intends to a…
Conn. Gen. Stat. § 36a-498 (Formerly Sec. 36-440m). Refundability of advance fees. Exceptions. Prohibited acts by mortgage lenders, correspondent lenders, brokers and loan originators re borrowers.
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Sec. 36a-498. (Formerly Sec. 36-440m). Refundability of advance fees. Exceptions. Prohibited acts by mortgage lenders, correspondent lenders, brokers and loan originators re borrowers. (a) Except as provided in subsection (c) of this section, every advance fee paid or given, dire…
Conn. Gen. Stat. § 36a-498a Prepaid finance charges; restrictions. Secondary mortgage loan; demand for payment prior to maturity; liability for noncompliance; deed.
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Sec. 36a-498a. Prepaid finance charges; restrictions. Secondary mortgage loan; demand for payment prior to maturity; liability for noncompliance; deed. (a) No mortgage lender licensee or mortgage correspondent lender licensee under section 36a-489 and no person exempt from licens…
Conn. Gen. Stat. § 36a-498b Release of secondary mortgage. Notice of outstanding balance of obligation secured by secondary mortgage.
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Sec. 36a-498b. Release of secondary mortgage. Notice of outstanding balance of obligation secured by secondary mortgage. (a) Each mortgage lender, mortgage correspondent lender and mortgage broker, all as defined in section 36a-485 and licensed under section 36a-489, shall delive…
Conn. Gen. Stat. § 36a-498c Adoption of mortgage loan policy with respect to subprime mortgage loans and nontraditional mortgage loans.
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Sec. 36a-498c. Adoption of mortgage loan policy with respect to subprime mortgage loans and nontraditional mortgage loans. At least once a year, each mortgage lender and mortgage correspondent lender, both as defined in section 36a-485 and licensed under section 36a-489, shall ad…
Conn. Gen. Stat. § 36a-498d Unique identifier of licensee. Advertising of licensee.
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Sec. 36a-498d. Unique identifier of licensee. Advertising of licensee. (a)(1) The unique identifier of any mortgage loan originator or loan processor or underwriter licensed under section 36a-489 shall be clearly shown on all residential mortgage loan application forms. (2) The u…
Conn. Gen. Stat. § 36a-498e Prohibited acts.
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Sec. 36a-498e. Prohibited acts. (a) No person who is required to be licensed and who is subject to this section, sections 36a-485 to 36a-498d, inclusive, 36a-534a and 36a-534b, may, directly or indirectly: (1) Employ any scheme, device or artifice to defraud or mislead borrowers …
Conn. Gen. Stat. § 36a-498f Authority of commissioner re investigations and examinations. Prohibited acts by subjects of investigation or examination.
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Sec. 36a-498f. Authority of commissioner re investigations and examinations. Prohibited acts by subjects of investigation or examination. Section 36a-498f is repealed, effective October 1, 2018. (P.A. 09-209, S. 19; P.A. 17-38, S. 13; P.A. 18-173, S. 101.)
Conn. Gen. Stat. § 36a-498g Severability.
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Sec. 36a-498g. Severability. If any provision or application of section 36a-21, sections 36a-485 to 36a-498e, inclusive, or sections 36a-498h, 36a-534a and 36a-534b to any person or circumstance is held invalid by a court of this state, the remainder of said sections or the appli…
Conn. Gen. Stat. § 36a-498h Lead generator licensees. Prohibited acts.
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Sec. 36a-498h. Lead generator licensees. Prohibited acts. (a) No person required to be licensed as a lead generator shall, while engaged in lead generation activities: (1) Initiate any outbound telephone call using an automatic telephone dialing system or an artificial or prereco…
Conn. Gen. Stat. §§ 36a-499 to 36a-509 36a-499 to 36a-509
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Secs. 36a-499 to 36a-509. Reserved for future use. (B) SECONDARY MORTGAGE LENDERS, BROKERS AND ORIGINATORS
Conn. Gen. Stat. §§ 36a-510 to 36a-517 (Formerly Secs. 36-224a to 36-224h). Definitions. License required; violations. Persons exempt from license requirement. License as secondary mortgage lender, secondary mortgage correspondent lender or secondary mortgage broker; prerequisites; application for license; denial of application for license. License and processing fees; expiration of licenses; fees nonrefundable. License. Records to be maintained by licensee. Suspension, revocation or refusal to renew license or taking of other action.
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Secs. 36a-510 to 36a-517. (Formerly Secs. 36-224a to 36-224h). Definitions. License required; violations. Persons exempt from license requirement. License as secondary mortgage lender, secondary mortgage correspondent lender or secondary mortgage broker; prerequisites; applicatio…