reglab/housing_qa huggingface dataset:
CT Gen Stat § 36a-366 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-366 - Establishment by qualified fiduciary and investment of funds.

 (a) Any fiduciary qualified to act as such in this state may establish one or more common trust funds and may invest funds which it holds as fiduciary in those common trust funds, provided: (1) Such investment is specifically permitted by the instrument, judgment, decree or order creating the fiduciary relationship; (2) the fiduciary may exercise discretion with respect to investments; (3) such funds are held by the fiduciary as guardian; or (4) the fiduciary relationship is not created by an instrument, judgment, order or decree which specifically prohibits such investment.(b) No fiduciary shall invest or accept for investment any funds in common trust funds other than in its fiduciary capacity.(c) A bank may invest funds that it holds as a fiduciary in any common trust fund established by a bank or out-of-state bank provided: (1) Such investment is specifically permitted by the instrument, judgment, decree or order creating the fiduciary relationship; (2) the fiduciary may exercise discretion with respect to investments; or (3) such funds are held by the fiduciary as guardian, conservator or any other court appointed fiduciary.(d) Notwithstanding the provisions of subsection (c) of this section, no Connecticut bank shall invest any funds that it holds as a fiduciary in any common trust fund in another state unless such fund is subject to statutes, rules or regulations of another state which are substantially similar to the provisions of this section, or unless such fund is subject to statutes, rules or regulations applicable to a national banking association.(e) The provisions of sections 53-313 to 53-316, inclusive, shall not apply to a common trust fund established under this section or its fiduciary or to a collective managing agency account established under section 36a-368 or its managing agent.(P.A. 94-122, S. 167, 340.)History: P.A. 94-122 effective January 1, 1995.
CT Gen Stat § 36a-367 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-367 - Management.

 The provisions of this section apply to the establishment and management of common trust funds other than collective managing agency accounts.(1) Any fiduciary maintaining one or more common trust funds shall have the executive management and control of each common trust fund administered by it, and the sole right at any time to sell, convert, exchange, transfer or otherwise change or dispose of the assets comprising the same.(2) Any fiduciary maintaining one or more common trust funds shall designate clearly upon its records the names of the fiduciary accounts on behalf of which the fiduciary, as such or as cofiduciary, owns an interest in the common trust fund, and the extent of the interest of such fiduciary accounts therein.(3) Any fiduciary owning an interest in a common trust fund on behalf of an account may transfer all or a portion of that interest to another account of which it is a fiduciary or cofiduciary if the terms of the instrument establishing the fiduciary relationship require or authorize the transfer of assets to such other account.(4) No fiduciary administering a common trust fund shall issue any certificate or other document evidencing a direct or indirect interest in that fund in any form. No fiduciary account owning or holding an investment or interest in a common trust fund shall be deemed to have individual ownership of any asset in such common trust fund, but shall be deemed to have only a proportionate undivided interest in the common trust fund. The ownership of such assets shall be solely in the fiduciary as trustee.(5) If any fiduciary maintaining one or more common trust funds holds property as cofiduciary, investment of that property in interests in a common trust fund may be made only with the written consent of the other cofiduciary or cofiduciaries and shall be withdrawn upon the written request of any such cofiduciary.(6) When mortgages are held in a common trust fund, the reasonable expenses incurred in servicing such mortgages may be charged against the income account of the fund and paid to servicing agents, including the fiduciary administering the fund.(7) The fiduciary may charge a fee for the management of the common trust fund, provided the fractional part of such fee proportionate to the interest of each participant shall not, when added to any other compensations charged by the fiduciary to the participant, exceed the total amount of compensations which would have been charged to such participant if no assets of such participant had been invested in participations in the fund.(P.A. 94-122, S. 168, 340.)History: P.A. 94-122 effective January 1, 1995.
CT Gen Stat § 36a-368 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-368 - Maintenance in accord with written plan. Regulations re establishment and maintenance of collective managing agency accounts.

 Each collective managing agency account to be maintained by a Connecticut bank shall be established and maintained in accordance with a written plan which shall be approved by a resolution of the bank's governing board and filed with the commissioner. The commissioner may adopt regulations in accordance with chapter 54 consistent with the provisions of sections 36a-350 to 36a-372, inclusive, governing the establishment and maintenance of collective managing agency accounts. The written plan shall contain appropriate provisions consistent with such regulations. Such account shall be established and maintained by a Connecticut bank only upon approval in writing by the commissioner and only to the extent permission to establish and maintain such accounts is granted national banking associations under applicable federal laws and regulations.(P.A. 94-122, S. 169, 340.)History: P.A. 94-122 effective January 1, 1995.
CT Gen Stat § 36a-369 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-369 - Investment.

 (a) The funds and assets of a common trust fund may be invested and reinvested in those investments in which a fiduciary may invest funds or assets held in a fiduciary capacity under section 36a-350, provided, in determining whether the investment of funds received or held by the fiduciary in a common trust fund is proper, the fiduciary may consider the common trust fund as a whole and is not prohibited from making such investment because of any particular asset.(b) Except as otherwise expressly provided in the instrument, judgment, decree or order creating the fiduciary relationship with the fiduciary or in the instrument creating the common trust fund, no investment for a common trust fund shall be made in stocks or bonds or other obligations of any one person, firm or corporation which would cause the total amount of investment in stocks or bonds or other obligations issued or guaranteed by such person, firm or corporation to exceed ten per cent of the value of the common trust fund, provided this limitation does not apply to investments in obligations of the United States or in obligations for the payment of the principal and interest of which the faith and credit of the United States is pledged.(P.A. 94-122, S. 170, 340.)History: P.A. 94-122 effective January 1, 1995.
CT Gen Stat § 36a-370 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-370 - Mortgages.

 If mortgages are held in a common trust fund, the fiduciary may, but is not required to, take any one or more of the following actions:(1) A fiduciary may transfer up to five per cent of the net income derived by a common trust fund from mortgages held by such fund during any regular accounting period to a reserve account, provided no such transfer shall be made which would cause the amount in such account to exceed one per cent of the outstanding principal amount of all mortgages held in the fund. If established, the amount of such reserve account shall be deducted from the assets of the fund in determining the fair market value of the fund for the purposes of admissions and withdrawals. If a reserve account is established, at the end of each accounting period all interest payments which are due but unpaid with respect to mortgages in the fund shall be charged against the reserve account to the extent available and credited to income distributed to participants. In the event of subsequent recovery of such payments by the fund, the reserve account shall be credited with the amount recovered.(2) A fiduciary may withdraw a defaulted mortgage from a common trust fund and segregate it for the benefit of all participants in the fund at the time of such withdrawal. In such event, the segregated mortgage shall be administered or realized upon for the benefit ratably of all participants in the common trust fund at the time of withdrawal.(3) A fiduciary may purchase for its own account from a common trust fund any defaulted mortgage held by such fund, if in the judgment of its board of directors the cost of segregation of such mortgage would be greater than the difference between its market value and its principal amount plus interest and penalty charges due. If a fiduciary elects to so purchase the mortgage, it shall do so at its market value or at the sum of principal, interest and penalty charges, whichever is greater.(P.A. 94-122, S. 171, 340.)History: P.A. 94-122 effective January 1, 1995.
CT Gen Stat § 36a-371 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-371 - Taxation.

 No fiduciary, or the common trust funds held by it, shall be liable for any taxes imposed by this state or any of its subdivisions in connection with the ownership of personal property. No tax shall be assessed or levied upon any certificate or other evidence of ownership of an interest in a common trust fund.(P.A. 94-122, S. 172, 340.)History: P.A. 94-122 effective January 1, 1995.
CT Gen Stat § 36a-372 (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-372 - Investment in common trust funds by national banking associations and foreign corporations acting as executor or testamentary trustee.

 Any national banking association or foreign corporation which has qualified and is acting as executor or testamentary trustee in this state pursuant to the provisions of section 45a-206 may, subject to the provisions of this section, invest any funds held by it as an executor or testamentary trustee in any common trust fund which it maintains according to the laws of the state where its principal place of business is located, provided no such investment may be made unless the will under which such executor or testamentary trustee is acting either specifically permits such investment or authorizes such executor or testamentary trustee to exercise its discretion with respect to investments or does not specifically prohibit investment in common trust funds.(P.A. 94-122, S. 173, 340.)History: P.A. 94-122 effective January 1, 1995.
CT Gen Stat § 36a-381. (Formerly Sec. 36-315) (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-381. (Formerly Sec. 36-315) - Exemptions.

 The provisions of sections 36a-380 to 36a-386, inclusive, shall not apply to the administration of: (1) Any trust for cemetery purposes by an incorporated cemetery association; (2) any charitable, religious or educational trust by an entity organized for charitable, religious or educational purposes; (3) any trust by a life insurance company of the proceeds of its insurance policies; (4) any trust by an entity without compensation and not as a part of its regular business; (5) any trust in real or personal property the trustee of which is a corporation acting pursuant to the provisions of section 45a-206; (6) any trust the trustee of which is acting as trustee under mortgage pursuant to the provisions of section 36a-395; or (7) any trust the trustee of which is an out-of-state trust company acting pursuant to section 36a-434a.(1949 Rev., S. 6019; P.A. 86-234, S. 1, 6; P.A. 92-12, S. 77; P.A. 94-122, S. 175, 340; P.A. 98-258, S. 3; P.A. 12-96, S. 25.)History: P.A. 86-234 deleted former Subdiv. (e) re inapplicability of chapter to trust in real property or real property accompanied by personal property as included in Sec. 49-93 provisions under mortgage or deed of trust held as security for loan and inserted new Subdivs. (e) and (f) re trust having as trustee corporations acting pursuant to Secs. 45-191 and 36-249, respectively; P.A. 92-12 redesignated Subdivs.; P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-315 transferred to Sec. 36a-381 in 1995; P.A. 98-258 added new Subdiv. (7) re exemption for any trust the trustee of which is a corporation acting pursuant to Sec. 36a-434a; P.A. 12-96 replaced references to corporation with references to entity in Subdivs. (2) and (4), deleted reference to corporation and added reference to acting as trustee under mortgage in Subdiv. (6) and replaced reference to corporation with reference to out-of-state trust company in Subdiv. (7).
CT Gen Stat § 36a-382. (Formerly Sec. 36-316) (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-382. (Formerly Sec. 36-316) - Examination; cost and fee.

 The commissioner shall annually or more often examine each entity licensed under sections 36a-380 to 36a-386, inclusive, and special acts 93-12, 93-19 and 93-20, any provision in the charter, certificate of incorporation, partnership agreement, articles of association, articles of organization or similar document, as applicable, of any such entity to the contrary notwithstanding, and shall require that such entity file an annual report in such form as the commissioner may prescribe and such other reports as the commissioner may require. Each such licensed entity shall pay the cost of such examination as determined by the commissioner and shall, in addition, pay to the commissioner an annual license fee of one hundred dollars. Such license fee shall be payable not later than the thirtieth day of June in each year and the fee for licenses granted upon any other date shall be prorated to the thirtieth day of June next following the issuance thereof, provided no fee for the unexpired portion of any license year shall be less than twenty dollars.(1949 Rev., S. 6020; P.A. 77-614, S. 161, 610; P.A. 80-482, S. 257, 345, 348; P.A. 87-9, S. 2, 3; P.A. 90-271, S. 20, 24; P.A. 94-122, S. 176, 340; May 25 Sp. Sess. P.A. 94-1, S. 106, 130; P.A. 12-96, S. 26.)History: P.A. 77-614 made banking department a division within the department of business regulation with banking commissioner as its head, effective January 1, 1979; P.A. 80-482 restored banking division as independent department with commissioner as its head and abolished the department of business regulation; (Revisor's note: Pursuant to P.A. 87-9 “banking department” was changed editorially by the Revisors to “department of banking”); P.A. 90-271 made a technical change; P.A. 94-122 made technical changes, effective January 1, 1995; May 25 Sp. Sess. P.A. 94-1 made a further technical change, effective January 1, 1994, and applicable January 1, 1995; Sec. 36-316 transferred to Sec. 36a-382 in 1995; P.A. 12-96 replaced “corporation” with “entity”, added “certificate of incorporation, partnership agreement, articles of association, articles of organization or similar document, as applicable” and made a technical change.
CT Gen Stat § 36a-383. (Formerly Sec. 36-317) (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-383. (Formerly Sec. 36-317) - Procedure in case of failure to comply with cease and desist order or insolvency.

 If it at any time appears to the commissioner that any entity so licensed has failed to comply with a cease and desist order issued by the commissioner or is insolvent or likely to become insolvent, the commissioner may revoke such license in accordance with section 36a-51 and apply to the superior court for the judicial district of Hartford or the judicial district in which such entity is located for an injunction restraining such entity from continuing to receive property in trust and restraining it from administering any and all trusts including such as may be then in force and effect, and for an order appointing some suitable person to succeed such entity as trustee of any trust property then in its possession or in or to which it has any right, title, interest or claim, or for any other or further order as appears to the court as necessary or advisable to protect and secure the interests of the beneficiaries of any such trust property. The court, after reasonable notice to such entity and hearing thereon, may issue such injunction or other order or grant such other equitable relief as the facts may warrant and, pending such hearing, the court may issue such temporary injunction or restraining order as the court deems equitable.(1949 Rev., S. 6021; P.A. 78-280, S. 2, 127; P.A. 88-230, S. 1, 12; P.A. 90-98, S. 1, 2; P.A. 91-357, S. 55, 78; P.A. 93-142, S. 4, 7, 8; P.A. 94-122, S. 177, 340; P.A. 95-220, S. 4–6; P.A. 12-96, S. 27.)History: P.A. 78-280 substituted reference to judicial districts for reference to counties; P.A. 91-357 deleted obsolete language re judge of the superior court and made a technical change; P.A. 94-122 deleted the cease and desist provisions moved to Sec. 36a-52, allowed the commissioner to apply for enforcement orders to the Hartford-New Britain superior court and made technical changes, effective January 1, 1995 (Revisor's note: P.A. 88-230, P.A. 90-98 and P.A. 93-142 authorized substitution of “judicial district of Hartford” for “judicial district of Hartford-New Britain” in public and special acts of the 1994 regular and special sessions, effective September 1, 1996); Sec. 36-317 transferred to Sec. 36a-383 in 1995; P.A. 95-220 changed the effective date of P.A. 88-230 from September 1, 1996, to September 1, 1998, effective July 1, 1995; P.A. 12-96 replaced “corporation” with “entity”.See Sec. 36a-52 re cease and desist orders.
CT Gen Stat § 36a-384. (Formerly Sec. 36-318) (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-384. (Formerly Sec. 36-318) - Segregation of securities. Deposits.

 The securities and investments of each trust committed to any such entity so licensed shall be set apart and segregated and shall not be mingled with the securities and investments of any other trust or of the entity. Any undistributed or temporarily uninvested cash held by such entity as trustee shall be deposited in the name of the trust or in the name of the entity as trustee in a bank, provided, when any such undistributed or uninvested cash is deposited in the name of the entity as trustee, such deposits shall be so identified on the books of the entity as to disclose the beneficial ownership thereof.(1949 Rev., S. 6022; P.A. 94-122, S. 178, 340; P.A. 12-96, S. 28.)History: P.A. 94-122 allowed nonbank trust companies to deposit undistributed or uninvested trust funds in any bank, effective January 1, 1995; Sec. 36-318 transferred to Sec. 36a-384 in 1995; P.A. 12-96 replaced “corporation” with “entity”.See Sec. 45a-208 re deposit of securities in clearing corporation.
CT Gen Stat § 36a-385. (Formerly Sec. 36-319) (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-385. (Formerly Sec. 36-319) - Name.

 No such entity so licensed shall use, either as a part of its name, or as a prefix or suffix thereto, or as a designation of the business carried on by it, the word “bank”, “banking”, “banker”, “bankers”, “trust” or “savings”, notwithstanding any provision of the charter, certificate of incorporation, partnership agreement, articles of association, articles of organization or similar document, as applicable, of any such entity.(1949 Rev., S. 6023; P.A. 94-122, S. 179, 340; P.A. 12-96, S. 29.)History: P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-319 transferred to Sec. 36a-385 in 1995; P.A. 12-96 replaced “corporation” and “corporation to the contrary” with “entity” and added “certificate of incorporation, partnership agreement, articles of association, articles of organization or similar document, as applicable”.
CT Gen Stat § 36a-386. (Formerly Sec. 36-319a) (2020)
2020 Connecticut General Statutes|Title 36a - The Banking Law of Connecticut|Chapter 665b - Fiduciary Powers|Section 36a-386. (Formerly Sec. 36-319a) - Planned Lifetime Assistance Network of Connecticut, Inc. Self-sufficiency trusts.

 (a) Planned Lifetime Assistance Network of Connecticut, Inc. shall have the power to receive, by grant, assignment, transfer, devise, bequest or otherwise, any money, securities or other personal property, or any interest in real estate from any person or corporation in trust, to hold, manage or dispose of the same for the benefit of any person with disabilities or to accept or execute any such trust pursuant to the provisions of sections 36a-380 to 36a-386, inclusive, provided Planned Lifetime Assistance Network of Connecticut, Inc. shall be a nonprofit corporation incorporated in this state and shall be licensed in accordance with, and comply with the provisions of said sections. The purpose of such a trust shall be to assist the beneficiary in achieving and maintaining self-sufficiency.(b) Planned Lifetime Assistance Network of Connecticut, Inc. shall establish a charitable trust which shall benefit any person with disabilities for whom an individual trust has not been established. Planned Lifetime Assistance Network of Connecticut, Inc. shall charge each trust created under subsection (a) of this section an annual administrative fee, which shall not exceed the actual costs of administering such trusts. The grantor of a trust created under subsection (a) of this section may enter into an agreement whereby a percentage of the remainder of the trust may be transferred to the charitable trust upon the death of the beneficiary.(c) The board of directors of Planned Lifetime Assistance Network of Connecticut, Inc. shall report, on or before June 30, 1991, and annually thereafter, to the joint standing committees of the General Assembly having cognizance of matters relating to human services and banks: (1) The number of beneficiaries for whom assets are placed in trust; (2) the amount held on behalf of each beneficiary; (3) the type of assets funding each trust; (4) the income earned by all such trusts; (5) the amount and purpose of any funds dispersed; (6) the number of grantors who agree to transfer a percentage of the remainder of a trust established pursuant to subsection (a) of this section to the charitable trust and the percentage and amount transferred by each; and (7) an itemization of administrative costs.(P.A. 90-316.)History: Sec. 36-319a transferred to Sec. 36a-386 in 1995.