reglab/housing_qa huggingface dataset:
CT Gen Stat § 36a-831 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-831 - Change in control of exchange facilitator. Notification to clients.

 An exchange facilitator shall notify each client whose relinquished property, as defined in 26 CFR 1.1031(k)-1(a), is located in this state or whose replacement property, as defined in 26 CFR 1.1031(k)-1(a), held under a qualified exchange accommodation agreement is located in this state, of any change in control of the exchange facilitator. The exchange facilitator shall notify each such client not later than ten business days after the effective date of such change in control by facsimile, electronic mail transmission or first class mail and by posting such notice of change of control on the exchange facilitator's Internet web site for a period ending not earlier than ninety days after the change in control. Such notification shall set forth the name, address and other contact information of the persons to whom control was transferred. Notwithstanding the provisions of this section, if the exchange facilitator is a publicly traded company and remains a publicly traded company after a change in control, the publicly traded company shall not be required to notify its existing clients of such change in control. For purposes of this section, “change in control” means any transfer or transfers within a twelve-month period of more than fifty per cent of the assets or ownership interests, directly or indirectly, of the exchange facilitator.(P.A. 13-135, S. 6.)
CT Gen Stat § 36a-832 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-832 - Fidelity bond. Deposit of exchange funds.

 An exchange facilitator at all times shall:(1) Maintain a fidelity bond in an amount of not less than one million dollars executed by an insurer authorized to do business in this state;(2) Deposit all exchange funds in a separately identified account, as defined in 26 CFR 1.468B-6(c)(2)(ii)(A), and provide that any withdrawals from such separately identified account require the written authorizations of both the client and the exchange facilitator. Deliver authorization for withdrawals by any commercially reasonable means, including (A) the client's delivery to the exchange facilitator of the client's authorization to disburse exchange funds and the exchange facilitator's delivery to the depository institution of the exchange facilitator's sole authorization to disburse exchange funds, or (B) delivery to the depository institution of both the client's and the exchange facilitator's authorizations to disburse exchange funds; or(3) Deposit all exchange funds in a qualified escrow or qualified trust, as such terms are defined in 26 CFR 1.1031(k)-1(g)(3), with a financial institution and provide that any withdrawals from such qualified escrow or qualified trust require the taxpayer's and the exchange facilitator's written authorization.(P.A. 13-135, S. 7.)
CT Gen Stat § 36a-833 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-833 - Errors and omissions insurance policy; cash or securities deposit; letters of credit.

 An exchange facilitator at all times shall: (1) Maintain an errors and omissions policy of insurance in an amount not less than two hundred fifty thousand dollars executed by an insurer authorized to do business in this state; or (2) deposit an amount of cash or securities or provide irrevocable letters of credit in an amount not less than two hundred fifty thousand dollars.(P.A. 13-135, S. 8; 13-253, S. 28.)History: P.A. 13-253 made a technical change.
CT Gen Stat § 36a-834 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-834 - Regulations. Damage claims.

 The Banking Commissioner may adopt regulations, in accordance with the provisions of chapter 54, to implement the provisions of sections 36a-830 to 36a-837, inclusive. Any person claiming to have suffered damage by reason of the failure of an exchange facilitator to comply with the provisions of sections 36a-831 to 36a-836, inclusive, may file a claim with the commissioner against the exchange facilitator to recover such damage from (1) the fidelity bond maintained in accordance with subdivision (1) of section 36a-832, (2) cash or securities deposited in accordance with subdivision (2) of section 36a-833, (3) letters of credit provided in accordance with subdivision (2) of section 36a-833, or (4) the errors and omissions policy maintained in accordance with subdivision (1) of section 36a-833.(P.A. 13-135, S. 9.)
CT Gen Stat § 36a-835 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-835 - Holding and investment of exchange funds.

 (a) An exchange facilitator shall hold all exchange funds, including money, property, other consideration or instruments received by the exchange facilitator from or on behalf of the client, but not including funds received as the exchange facilitator's compensation, in a manner that provides liquidity and preserves principal. An exchange facilitator shall provide the client with written notification of the manner in which the exchange funds will be invested or deposited and shall deposit or invest exchange funds in investments which meet the prudent investor standard and which satisfy investment goals of liquidity and preservation of principal. Exchange funds may be pooled. For purposes of this section, an exchange facilitator violates the prudent investor standard if:(1) Exchange funds are knowingly commingled by the exchange facilitator with the operating accounts of the exchange facilitator; or(2) Exchange funds are loaned or otherwise transferred to any person or entity affiliated with or related to the exchange facilitator except that this subdivision shall not apply to a transfer made pursuant to the exchange contract (A) for payment of an exchange expense or completion of the acquisition of the replacement property, (B) for depositing exchange funds with a financial institution, or (C) to an exchange accommodation titleholder, a trustee of a qualified trust or a qualified escrow agent.(b) Exchange funds are not subject to execution or attachment on any claim against the exchange facilitator. An exchange facilitator shall not knowingly keep or cause to be kept any money in any financial institution under any name designating the money as belonging to a client of the exchange facilitator unless the money equitably belongs to the client and was actually entrusted to the exchange facilitator by the client.(P.A. 13-135, S. 10.)
CT Gen Stat § 36a-836 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-836 - Prohibited activities of exchange facilitators.

 No exchange facilitator or, in the case of an exchange facilitator that is an entity, no owner, officer, director or employee of such exchange facilitator, shall knowingly:(1) Make any material misrepresentations concerning any exchange facilitator transaction that are intended to mislead;(2) Pursue a continued or flagrant course of misrepresentation or making false statements through advertising or by any other means;(3) Fail, within a reasonable time, to account for any money or property belonging to another person that may be in the possession or under the control of the exchange facilitator;(4) Engage in any conduct constituting fraudulent or dishonest dealings;(5) Commit any crime related to the exchange facilitation business involving fraud, misrepresentation, deceit, embezzlement, misappropriation of funds, robbery or other theft of property, except that commission of such crime by an officer, director or employee shall not be considered a violation of this section, provided (A) the employment or appointment of such officer, director or employee has been terminated, and (B) no clients of the exchange facilitator were harmed or full restitution has been made to all harmed clients;(6) Materially fail to fulfill the exchange facilitator's contractual duties to the client to deliver property or funds to the client unless such failure is due to circumstances beyond the control of the exchange facilitator; and(7) Materially violate any provision of sections 36a-831 to 36a-835, inclusive, or the regulations adopted by the Banking Commissioner in accordance with section 36a-834.(P.A. 13-135, S. 11.)
CT Gen Stat § 36a-837 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-837 - Civil action. Notice.

 (a) A person who violates any provision of sections 36a-831 to 36a-836, inclusive, is subject to civil suit in a court of competent jurisdiction.(b) Any person who commences a civil action pursuant to subsection (a) of this section shall notify the Department of Banking upon filing such action.(P.A. 13-135, S. 12.)
CT Gen Stat § 36a-846 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-846 - Definitions.

 As used in this section and sections 36a-847 to 36a-854:(1) “Advertise” or “advertising” has the same meaning as provided in section 36a-485;(2) “Branch office” means a location other than the main office at which a licensee or any person on behalf of a licensee acts as a student loan servicer;(3) “Control person” has the same meaning as provided in section 36a-485;(4) “Main office” has the same meaning as provided in section 36a-485;(5) “Student loan borrower” means any individual who resides within this state who has agreed to repay a student education loan;(6) “Student loan servicer” means any person, wherever located, responsible for the servicing of any student education loan to any student loan borrower;(7) “Servicing” means (A) receiving any scheduled periodic payments from a student loan borrower pursuant to the terms of a student education loan; (B) applying the payments of principal and interest and such other payments with respect to the amounts received from a student loan borrower, as may be required pursuant to the terms of a student education loan; or (C) performing other administrative services with respect to a student education loan;(8) “Student education loan” means any loan primarily for personal use to finance education or other school-related expenses;(9) “Unique identifier” has the same meaning as provided in section 36a-485.(P.A. 15-162, S. 2; P.A. 17-233, S. 32; P.A. 18-173, S. 84.)History: P.A. 17-233 added new Subdiv. (1) defining “advertise” or “advertising”, added new Subdiv. (2) defining “control person” and redesignated existing Subdivs. (1) to (4) as Subdivs. (3) to (6); P.A. 18-173 added new Subdiv. (2) defining “branch office”, redesignated existing Subdiv. (2) as new Subdiv. (3), added new Subdiv. (4) defining “main office”, redesignated existing Subdiv. (3) as new Subdiv. (5) and amended same to redefine “student loan borrower”, redesignated existing Subdivs. (4) to (6) as Subdivs. (6) to (8), and added Subdiv. (9) defining “unique identifier”.
CT Gen Stat § 36a-849 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-849 - Records to be maintained by licensee.

 (a) Each student loan servicer licensee shall maintain adequate records of each student education loan transaction for not less than two years following the final payment on such student education loan or the assignment of such student education loan, whichever occurs first, or such longer period as may be required by any other provision of law.(b) If requested by the commissioner, each student loan servicer licensee shall make such records available or send such records to the commissioner by registered or certified mail, return receipt requested, or by any express delivery carrier that provides a dated delivery receipt, not later than five business days after requested by the commissioner to do so. Upon request, the commissioner may grant a licensee additional time to make such records available or send the records to the commissioner.(P.A. 15-162, S. 5; P.A. 16-65, S. 61.)History: P.A. 15-162 effective July 1, 2016; P.A. 16-65 amended Subsec. (a) by deleting provision re persons exempt from licensure and amended Subsec. (b) by adding “licensee” re student loan servicer, effective July 1, 2016.
CT Gen Stat § 36a-853 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-853 - Compliance with federal laws and regulations.

 A student loan servicer shall comply with all applicable federal laws and regulations relating to student loan servicing, including, but not limited to, the Truth-in-Lending Act, 15 USC Section 1601 et seq., as from time to time amended, and the regulations promulgated thereunder. In addition to any other remedies provided by law, a violation of any such federal law or regulation shall be deemed a violation of this section and a basis upon which the commissioner may take enforcement action pursuant to section 36a-852.(P.A. 15-162, S. 9.)History: P.A. 15-162 effective July 1, 2016.
CT Gen Stat § 36a-854 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-854 - Regulations.

 The Banking Commissioner shall adopt such regulations, in accordance with chapter 54, to implement the provisions of this section and sections 36a-846 to 36a-853, inclusive.(P.A. 15-162, S. 10.)History: P.A. 15-162 effective July 1, 2016.
CT Gen Stat § 36a-860 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-860 - Financial planners.

 (a) For purposes of this section and section 36a-860a, (1) “fiduciary duty” means a duty to act with prudence in the best interests of a consumer with undivided loyalty to such consumer, and (2) “financial planner” means a person offering individualized financial planning or investment advice to a consumer for compensation where such activity is not otherwise regulated by state or federal law.(b) No financial planner shall, in connection with an agreement with a consumer to provide financial planning or investment advice for compensation, use a certificate, professional designation or form of advertising expressing or implying that such person has special training, education or experience in advising or serving senior citizens, unless such person has obtained a certificate, title or designation as described in section 36b-4.(c) A financial planner shall disclose to a consumer, upon request, whether or not such financial planner has a fiduciary duty to such consumer for each recommendation such financial planner makes to such consumer.(P.A. 17-120, S. 1.)History: P.A. 17-120 effective July 5, 2017.
CT Gen Stat § 36a-860a (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 669 - Regulated Activities|Section 36a-860a - Links to educational materials re financial planning and investment advisers on department's Internet web site.

 (a) To the extent practicable, the Banking Commissioner shall provide on the department's Internet web site links to educational materials on (1) financial planning and other designations, including associated prerequisites, and (2) information on requirements for investment advisers pursuant to chapter 672a. The Banking Commissioner shall also include on the department's Internet web site information concerning a consumer's right to ask for disclosure from financial planners or other financial planning professionals about fees and compensation as required under applicable state and federal law.(b) The Department of Banking shall share the information provided on the department's Internet web site pursuant to subsection (a) of this section with the Department of Consumer Protection. The Department of Consumer Protection shall provide such shared information on its own department's Internet web site.(P.A. 17-120, S. 2.)History: P.A. 17-120 effective July 5, 2017.
CT Gen Stat § 36b-1 (2020)
2020 Connecticut General Statutes|Title 36b - Connecticut Securities Law and Business Opportunity Investment Act|Chapter 672 - General Statement|Section 36b-1 - General statement.

 Sections 36b-2 to 36b-34, inclusive, and 36b-40 to 36b-52, inclusive, and 36b-60 to 36b-80, inclusive, shall be known as the “Securities and Business Investments Law of Connecticut” and shall be applicable to all issuers of securities, broker-dealers, agents, investment advisers, investment adviser agents, sellers of business opportunities, and offerors in a tender offer, and to such other corporations, unincorporated associations, partnerships, limited liability companies and individuals who subject themselves to special provisions in said sections, or who, by violating any of the provisions of said sections become subject to the penalties provided in said sections.(P.A. 94-122, S. 336, 340; P.A. 97-22, S. 3; P.A. 10-141, S. 1.)History: P.A. 94-122 effective January 1, 1995; P.A. 97-22 made a technical change; P.A. 10-141 replaced reference to Sec. 36b-33 with reference to Sec. 36b-34, effective June 7, 2010.
CT Gen Stat § 36b-2. (Formerly Sec. 36-470) (2020)
2020 Connecticut General Statutes|Title 36b - Connecticut Securities Law and Business Opportunity Investment Act|Chapter 672a - Uniform Securities Act|Section 36b-2. (Formerly Sec. 36-470) - Short title: Connecticut Uniform Securities Act.

 Sections 36b-2 to 36b-34, inclusive, may be cited as the “Connecticut Uniform Securities Act”.(P.A. 77-482, S. 1; P.A. 10-141, S. 2.)History: Sec. 36-470 transferred to Sec. 36b-2 in 1995; P.A. 10-141 replaced reference to Sec. 36b-33 with reference to Sec. 36b-34, effective June 7, 2010.Annotation to former section 36-470:Cited. 219 C. 204.
CT Gen Stat § 36b-7. (Formerly Sec. 36-475) (2020)
2020 Connecticut General Statutes|Title 36b - Connecticut Securities Law and Business Opportunity Investment Act|Chapter 672a - Uniform Securities Act|Section 36b-7. (Formerly Sec. 36-475) - Application for initial or renewal registration. Registration conditions. Waiver of specific registration requirements.

 (a) A broker-dealer, agent, investment adviser or investment adviser agent may obtain an initial or renewal registration by filing with the commissioner or other depository as the commissioner may by regulation or order designate an application together with a consent to service of process pursuant to subsection (g) of section 36b-33. The application shall contain such information as the commissioner may require.(b) The commissioner may, by regulation adopted, in accordance with chapter 54, or order, impose such registration conditions as are not inconsistent with the National Securities Markets Improvement Act of 1996. The commissioner may, by regulation or order, waive, in whole or in part, specific requirements in connection with registration as are in the public interest and for the protection of investors.(P.A. 77-482, S. 6; P.A. 78-34, S. 11, 17; P.A. 81-292, S. 4; P.A. 97-220, S. 4, 15; P.A. 05-177, S. 3.)History: P.A. 78-34 referred to Sec. 36-502 rather than to Sec. 36-501; P.A. 81-292 provided that an application may be filed with a depository as the commissioner may by regulation or order designate; Sec. 36-475 transferred to Sec. 36b-7 in 1995; P.A. 97-220 made a technical change, effective July 1, 1997; P.A. 05-177 designated existing provisions as Subsec. (a) and added Subsec. (b) allowing commissioner to impose registration conditions not inconsistent with the National Securities Markets Improvement Act of 1996 and to waive specific registration requirements.
CT Gen Stat § 36b-8. (Formerly Sec. 36-476) (2020)
2020 Connecticut General Statutes|Title 36b - Connecticut Securities Law and Business Opportunity Investment Act|Chapter 672a - Uniform Securities Act|Section 36b-8. (Formerly Sec. 36-476) - Investigation of applicant for registration. Register.

 On receipt of the application for registration as a branch office, broker-dealer, agent, investment adviser or investment adviser agent, the commissioner may make such investigation of the applicant and the applicant's affairs as the commissioner deems necessary or advisable. Upon completion of such investigation, the commissioner shall, subject to the authority of the commissioner to deny, revoke or suspend such registration, enter the name of such person on a register of branch offices, broker-dealers, agents, investment advisers or investment adviser agents, as the case may be, to be kept in the office of the commissioner, properly indexed and open to the public. The information to be entered on the register shall be the name, address and date of registration or renewal and, in the case of broker-dealers or investment advisers, whether such registrant is an individual, partnership, corporation or other form of association. When the registration of any such person is suspended or revoked, the commissioner shall so note on the appropriate register.(P.A. 77-482, S. 7; P.A. 82-149, S. 5, 16; P.A. 91-145, S. 3; P.A. 04-45, S. 2.)History: P.A. 82-149 deleted the prohibition against commissioner's issuing certificates or written evidence to persons registered under the chapter; P.A. 91-145 added provisions re registration as a branch office and suspension of registration; Sec. 36-476 transferred to Sec. 36b-8 in 1995; P.A. 04-45 made technical changes.
CT Gen Stat § 36b-9. (Formerly Sec. 36-477) (2020)
2020 Connecticut General Statutes|Title 36b - Connecticut Securities Law and Business Opportunity Investment Act|Chapter 672a - Uniform Securities Act|Section 36b-9. (Formerly Sec. 36-477) - Statement of financial condition.

 The commissioner may require that each application for registration of a broker-dealer or investment adviser be accompanied by a true and correct statement of financial condition, in such form and containing such data as the commissioner may require. Such statement of financial condition shall be sworn to, before a person qualified to administer oaths, by the applicant, and shall state that the alleged facts therein contained are true to his own knowledge. If such applicant is a partnership, such oath shall be made by a general partner thereof, and, if such applicant is a corporation or other form of association, such oath shall be made by an executive officer thereof. Such statement of financial condition shall be kept in a confidential file and shall not be open to the public.(P.A. 77-482, S. 8; P.A. 97-220, S. 5, 15.)History: Sec. 36-477 transferred to Sec. 36b-9 in 1995; P.A. 97-220 amended section to provide that the commissioner may require applications for registration to be accompanied by statements of financial condition, effective July 1, 1997.
CT Gen Stat § 36b-10. (Formerly Sec. 36-478) (2020)
2020 Connecticut General Statutes|Title 36b - Connecticut Securities Law and Business Opportunity Investment Act|Chapter 672a - Uniform Securities Act|Section 36b-10. (Formerly Sec. 36-478) - Application for registration to be under oath.

 Each application for registration under sections 36b-2 to 36b-34, inclusive, shall be sworn to, before a person qualified to administer oaths, by the person making the same and shall state that the alleged facts therein contained are true to his own knowledge. If such person is a partnership, such oath shall be made by a general partner thereof, and, if such person is a corporation or other form of association, such oath shall be made by an executive officer thereof.(P.A. 77-482, S. 9; P.A. 10-141, S. 7.)History: Sec. 36-478 transferred to Sec. 36b-10 in 1995; P.A. 10-141 replaced reference to Sec. 36b-33 with reference to Sec. 36b-34, effective June 7, 2010.