reglab/statecodes huggingface dataset:
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 36a-454a. - Benefits for Connecticut credit union employees and their families. Liability or indemnity coverage for directors, credit committee members and supervisory committee members.

(a) In addition to compensating its employees, a Connecticut credit union may, either independently or in conjunction with one or more other Connecticut credit unions, with the approval of the governing board, provide death benefits, disability benefits, accident benefits, hospital, medical, surgical and dental benefits, incentive savings benefits, severance benefits, retirement benefits and other employee benefits for its active and retired employees and their families. The provisions of this section shall be subject to the conditions and requirements imposed by the Employee Retirement Income Security Act of 1974, Public Law 93-406, as from time to time amended.
(b) A Connecticut credit union may, with the approval of a majority of the governing board, provide personal liability or indemnity insurance coverage for its directors, appointed directors, credit committee members and supervisory committee members. With the approval of the commissioner, a Connecticut credit union may also provide reasonable health, accident and related types of personal insurance for its directors, which insurance shall not be considered compensation. A Connecticut credit union shall not provide such health, accident or related types of personal insurance for its appointed directors.
(P.A. 02-73, S. 50; P.A. 03-35, S. 5; 03-84, S. 54.)
History: P.A. 03-35 amended Subsec. (b) by inserting “appointed directors”, deleting “other than its emeritus directors and advisory directors” and adding provision prohibiting credit union from providing health, accident or related types of personal insurance for its appointed directors; P.A. 03-84 changed “Commissioner of Banking” to “commissioner” in Subsec. (b), effective June 3, 2003.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 36a-455. (Formerly Sec. 36-205). - Credit committee. Loans. Lines of credit.

Section 36a-455 is repealed, effective October 1, 2002.
(1949 Rev., S. 5917; 1951, S. 2746d; 1961, P.A. 196; 1967, P.A. 101, S. 2; 1969, P.A. 224, S. 4; P.A. 73-127, S. 1, 2; P.A. 75-66, S. 2, 3; P.A. 77-179, S. 10; P.A. 79-124; P.A. 82-92, S. 1, 2; P.A. 85-415, S. 14; P.A. 86-403, S. 75, 132; P.A. 91-357, S. 46, 78; P.A. 94-122, S. 210, 340; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 36a-455b. - Transfer of assets or business. Sale of branch. Acquisition of assets or business of federal credit union.

(a) A Connecticut credit union may, with the approval of the commissioner, transfer all or a significant part of its assets as provided in subdivisions (18), (19) and (21) of section 36a-455a, or transfer all or a significant part of its assets or business to a bank, a Connecticut credit union or a federal credit union. The commissioner shall not approve such transfer if the acquirer, including all insured depository institutions which are affiliates of the acquirer, upon consummation of the sale, would control thirty per cent or more of the total amount of deposits of insured depository institutions in this state, unless the commissioner permits a greater percentage of such deposits. The transferring credit union and the acquirer shall file with the commissioner a written agreement describing the terms and conditions of the transaction, and such additional information as may be required by the commissioner. Such agreement shall be approved and executed by a majority of the governing board of the transferring credit union and of the acquirer, provided if the acquirer does not have a governing board, the agreement may be executed by a person authorized to execute the agreement on behalf of the acquirer. Payment for all or part of the assets and business of the transferring credit union may be made in cash or by making available on demand to share account holders and other creditors thereof funds on deposit with the acquirer. The commissioner may require the transferring credit union to obtain authorization for the transfer by the affirmative vote of at least a majority of the members of such credit union. A Connecticut credit union that transfers all of its assets and business shall comply with the provisions of section 36a-470a.
(b) A Connecticut credit union may, with the approval of the commissioner, sell a branch.
(c) No Connecticut credit union may acquire all or a significant part of the assets or business of a federal credit union without the approval of the commissioner. Such Connecticut credit union shall file with the commissioner an application that includes a copy of any notice, application and other information filed with any federal credit union regulator in connection with such acquisition and such additional information as may be required by the commissioner.
(P.A. 02-73, S. 53; P.A. 03-196, S. 13.)
History: P.A. 03-196 substantially revised Subsec. (a) re transfer of assets or business by a Connecticut credit union and added Subsec. (c) re acquisition by a Connecticut credit union of assets or business of a federal credit union, effective July 1, 2003.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 36a-456. (Formerly Sec. 36-206). - Loans. Interest on loans. Authorization of interest refunds. Security. Regulations.

Section 36a-456 is repealed, effective October 1, 2002.
(1949 Rev., S. 5919; 1969, P.A. 246, S. 4; P.A. 77-179, S. 11; 77-212, S. 2; P.A. 80-415, S. 1, 2; P.A. 81-123, S. 2, 4; P.A. 85-415, S. 19; P.A. 86-137; P.A. 87-5; P.A. 94-122, S. 211, 340; P.A. 96-53, S. 3, 4; P.A. 99-36, S. 14; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 36a-456b. - Tax and loan and note accounts.

(a) As used in this section:
(1) “Tax and loan account” means an account, the balance of which is subject to the right of immediate withdrawal, established for receipt of payments of federal taxes and certain United States obligations. Such accounts are not shares, as defined in subdivision (17) of section 36a-435b; and
(2) “Note account” means a note, subject to the right of immediate call, evidencing funds held by depositories electing the note option under applicable United States Treasury Department regulations. Note accounts are not shares, as defined in subdivision (17) of section 36a-435b.
(b) Subject to the regulations of the United States Treasury Department, Connecticut credit unions may serve as depositories for federal taxes or as United States Treasury tax and loan depositories, and satisfy any requirement in connection therewith, including maintaining tax and loan accounts and note accounts, and pledging collateral.
(c) Connecticut credit unions shall pay a return on note accounts at the rates required by the United States Treasury Department.
(d) In addition to the requirements contained in the regulations of the United States Treasury Department, Connecticut credit unions shall meet all requirements in order to obtain any available insurance of deposits contained in tax and loan accounts and note accounts by the National Credit Union Administration's Share Insurance Fund.
(P.A. 02-73, S. 55.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 36a-456c. - Dividends.

The governing board of a Connecticut credit union, or the executive committee or senior management if so delegated by the governing board, may declare and pay dividends on partial or full shares from current or accumulated net earnings, provided such credit union shall meet its net worth requirements, provide for accrued and unpaid expenses and adequately fund the allowance for loan and lease losses account. A Connecticut credit union may not declare or pay dividends if it is insolvent or if its net assets are less than stated capital or if the payment of dividends would render such credit union insolvent or reduce its net assets below stated capital. The commissioner may restrict the payment of dividends whenever it appears that such payment would adversely affect the financial condition of a Connecticut credit union.
(P.A. 02-73, S. 56; P.A. 03-84, S. 58.)
History: P.A. 03-84 changed “Commissioner of Banking” to “commissioner”, effective June 3, 2003.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 36a-457. (Formerly Sec. 36-208). - Supervisory committee. Members. Powers. Duties.

Section 36a-457 is repealed, effective October 1, 2002.
(1949 Rev., S. 5918; 1959, P.A. 63; 1961, P.A. 49; 50, S. 2; 1969, P.A. 268, S. 1, 2; P.A. 76-172, S. 1, 5; P.A. 81-173, S. 5; P.A. 85-415, S. 15; P.A. 94-122, S. 212, 340; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 36a-458. (Formerly Sec. 36-209). - Reserve requirements.

Section 36a-458 is repealed, effective October 1, 2002.
(1949 Rev., S. 5920; 1951, S. 2747d; 1971, P.A. 403, S. 1; P.A. 81-173, S. 2; P.A. 85-415, S. 26; P.A. 89-287, S. 2; P.A. 94-122, S. 213, 340; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 36a-459. (Formerly Sec. 36-210). - Dividends.

Section 36a-459 is repealed, effective October 1, 2002.
(1949 Rev., S. 5921; 1955, S. 2748d; 1957, P.A. 110; 1961, P.A. 52; 53; 1969, P.A. 184, S. 2; P.A. 73-141; 73-390, S. 1, 2; P.A. 75-265, S. 1, 2; P.A. 80-24, S. 1, 2; P.A. 81-123, S. 3, 4; 81-173, S. 6; P.A. 82-109, S. 5, 6; P.A. 83-229, S. 2, 6; 83-332, S. 2; P.A. 85-415, S. 18; P.A. 87-7; P.A. 90-26, S. 6; P.A. 94-122, S. 214, 340; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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. 167; P.A. 77-179, S. 14; P.A. 85-415, S. 22; P.A. 94-122, S. 216, 340; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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.A. 79-76, S. 1, 2; P.A. 82-139, S. 1, 3; P.A. 85-94, S. 4, 6; 85-415, S. 2; P.A. 88-230, S. 1, 12; 88-364, S. 52, 123; P.A. 90-98, S. 1, 2; P.A. 91-357, S. 47, 78; P.A. 93-142, S. 4, 7, 8; P.A. 94-122, S. 217, 340; P.A. 99-36, S. 15; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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. 177, 203; 89-287, S. 3; P.A. 90-26, S. 7; P.A. 94-122, S. 218, 340; P.A. 99-22, S. 6, 8; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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 maintains a branch in this state pursuant to section 36a-462b, to submit an annual audit report to the commissioner.
(b) An out-of-state, state-chartered or federally-chartered credit union that maintains a branch in this state that is required under federal law to submit a net worth restoration plan to the board of the National Credit Union Administration shall simultaneously submit an executed copy of such plan to the commissioner.
(P.A. 02-73, S. 65; P.A. 03-84, S. 67.)
History: P.A. 03-84 changed “Commissioner of Banking” to “commissioner”, effective June 3, 2003.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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 under subsection (a) of this section, shall consider: (1) The field of membership of the Connecticut credit union to be served by the proposed relocation of the main office of the Connecticut credit union; (2) the adequacy of the current main office of the Connecticut credit union; (3) the economic need for and cost of such proposed relocation; and (4) the convenience and necessity to the field of membership of the proposed relocation.
(P.A. 02-73, S. 66; P.A. 03-84, S. 68.)
History: P.A. 03-84 changed “Commissioner of Banking” to “commissioner”, effective June 3, 2003.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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 36a-464 to 36a-468, inclusive, are repealed, effective October 1, 2002.
(1949 Rev., S. 5933
–
5935; 1961, P.A. 152; P.A. 74-230, S. 1, 3; P.A. 77-179, S. 20; 77-614, S. 161, 610; P.A. 78-15; 78-121, S. 70, 113; 78-280, S. 6, 127; P.A. 80-482, S. 250, 345, 348; 80-483, S. 107, 185; P.A. 83-229, S. 3, 6; P.A. 85-94, S. 5, 6; 85-415, S. 27, 30
–
32; P.A. 88-230, S. 1, 12; P.A. 90-98, S. 1, 2; P.A. 91-357, S. 48
–
50, 78; P.A. 92-89, S. 18, 20; P.A. 93-142, S. 4, 7, 8; P.A. 94-122, S. 219
–
223, 340; P.A. 95-220, S. 4
–
6; P.A. 96-256, S. 200, 209; P.A. 99-36, S. 16, 17; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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 36a-469 and 36a-469a are repealed, effective October 1, 2002.
(1961, P.A. 146; P.A. 74-230, S. 2, 3; P.A. 75-518, S. 10, 13; P.A. 85-415, S. 28; P.A. 94-122, S. 224, 340; P.A. 97-209, S. 5, 6; P.A. 98-260, S. 10; P.A. 99-36, S. 18; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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.A. 94-122, S. 225, 340; P.A. 96-256, S. 201, 209; P.A. 99-36, S. 19; P.A. 01-9, S. 10, 11; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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 36a-435a to 36a-472a, inclusive, as may be necessary for the conduct of Connecticut credit unions and the enforcement of the provisions of said sections. The commissioner may adopt regulations in accordance with the provisions of chapter 54 to establish rates to be paid as dividends on shares having an agreed maturity subject to the conditions in section 36a-456c.
(P.A. 02-73, S. 72; P.A. 03-84, S. 74.)
History: P.A. 03-84 changed “Commissioner of Banking” to “commissioner”, effective June 3, 2003.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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. 73.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 36a-473 and 36a-474 (Formerly Secs. 36-223f and 36-224) and 36a- - 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.

Sections 36a-473 to 36a-475, inclusive, are repealed, effective October 1, 2002.
(1949 Rev., S. 5931; P.A. 77-179, S. 21; P.A. 85-208, S. 2, 3; P.A. 87-9, S. 2, 3; P.A. 88-230, S. 1, 12; P.A. 90-98, S. 1, 2; P.A. 93-142, S. 4, 7, 8; P.A. 94-122, S. 228, 340; P.A. 95-220, S. 4
–
6; 95-253, S. 1
–
7; P.A. 99-22, S. 7, 8; 99-36, S. 21, 22; P.A. 02-73, S. 86.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 667 - Credit Unions › Section 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 any regulations adopted thereunder, as from time to time amended.
(P.A. 03-259, S. 30.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 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.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 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 36a-485 to 36a-498e, inclusive, 36a-534a and 36a-534b or exempt from licensing, shall accept applications or referral of applicants from, or pay a fee to, any mortgage broker or mortgage loan originator who is required to be licensed under said sections but was not, as of the time of the performance of such mortgage broker's or mortgage loan originator's services in connection with loans made or to be made by the mortgage lender or mortgage correspondent lender, licensed to act as such by the commissioner, if the mortgage lender or mortgage correspondent lender has actual knowledge that the mortgage broker or mortgage loan originator was not licensed by the commissioner.
(P.A. 91-306, S. 2; P.A. 02-111, S. 12; P.A. 04-69, S. 9; P.A. 07-156, S. 13; P.A. 08-176, S. 31, 51; P.A. 09-209, S. 15; P.A. 18-173, S. 16.)
History: Sec. 36-440k transferred to Sec. 36a-496 in 1995; P.A. 02-111 extended prohibition to include accepting applications or referrals of applications from, or payment of fees to, unregistered originators and replaced references to “mortgage broker” with references to “first mortgage broker”; P.A. 04-69 substituted “36a-498a” for “36a-498”; P.A. 07-156 deleted references to “registered”, effective September 30, 2008; P.A. 08-176 changed effective date of P.A. 07-156, S. 13, from September 30, 2008, to July 1, 2008, added language re person not licensed at the time of performance of services, added references to “mortgage correspondent lender” and made conforming changes, effective July 1, 2008; P.A. 09-209 changed “mortgage loans” to “residential mortgage loans”, effective July 31, 2009; P.A. 18-173 replaced reference to Sec. 36a-498a with reference to Sec. 36a-498e and added references to Secs. 36a-534a and 36a-534b.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 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 deliver to the mortgagor a release of a secondary mortgage: (1) Upon receipt by such licensee of cash or a certified check in the amount of the outstanding balance of the obligation secured by such mortgage; or (2) upon payment by the payor bank, as defined in section 42a-4-105, of any check that is payable to such licensee or its assignee in the amount of the outstanding balance of the obligation secured by such mortgage.
(b) Each such licensee shall advise any person designated by the mortgagor of the amount of the outstanding balance of the obligation secured by the secondary mortgage granted to such licensee no later than the second business day after the licensee receives a request for such information.
(P.A. 08-176, S. 55.)
History: P.A. 08-176 effective July 1, 2008.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 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 adopt a mortgage loan policy with respect to subprime mortgage loans and nontraditional mortgage loans made by such mortgage lender or such mortgage correspondent lender based on and consistent with the most current version of the Conference of State Bank Supervisors, American Association of Residential Mortgage Regulators and National Association of Consumer Credit Administrators Statement on Subprime Mortgage Lending, and the Conference of State Bank Supervisors and American Association of Residential Mortgage Regulators Guidance on Nontraditional Mortgage Product Risks. Such licensees shall comply with such policy and develop and implement internal controls that are reasonably designed to ensure such compliance. The mortgage loan policy and any residential mortgage loan, as defined in section 36a-485, made pursuant to the policy shall be subject to examination concerning prudent lending practices by the commissioner.
(P.A. 08-176, S. 56; P.A. 09-209, S. 4.)
History: P.A. 08-176 effective July 1, 2008; P.A. 09-209 changed “mortgage loan” to “residential mortgage loan” and “Banking Commissioner” to “commissioner”, effective July 31, 2009.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 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 unique identifier of any mortgage lender, mortgage correspondent lender, mortgage broker or lead generator licensed under section 36a-489 shall be clearly shown on all solicitations or advertisements, including business cards or Internet web sites, and any other documents as established by rule, regulation or order of the commissioner and shall be clearly stated in all audio solicitations or advertisements.
(3) The unique identifier of a mortgage loan originator or loan processor or underwriter licensed under section 36a-489 shall be clearly shown on all solicitations and advertisements, including business cards and Internet web sites, and any other documents as established by rule, regulation or order of the commissioner, and shall be clearly stated in all audio solicitations and advertisements when disseminated by: (A) A mortgage loan originator or loan processor or underwriter regarding such individual's own services, or (B) the sponsor of such mortgage loan originator or loan processor or underwriter if such solicitation or advertisement identifies the services of a particular mortgage loan originator or loan processor or underwriter.
(b) The advertising of any person licensed under section 36a-489: (1) Shall not include any statement that such person is endorsed in any way by this state, except that such advertising may include a statement that such person is licensed in this state; (2) shall not include any statement or claim that is false, deceptive or misleading; (3) shall otherwise conform to the requirements of sections 36a-485 to 36a-498e, inclusive, 36a-498h, 36a-534a and 36a-534b, any regulations issued thereunder and any other applicable law; and (4) shall be retained for two years from the date of its use.
(P.A. 09-209, S. 21; P.A. 11-216, S. 24; P.A. 18-173, S. 19.)
History: P.A. 09-209 effective July 31, 2009; P.A. 11-216 deleted reference to Sec. 36a-485, added reference to loan processor or underwriter, deleted “originating a residential mortgage loan” and made technical changes; P.A. 18-173 amended Subsec. (a) by designating existing provision re clearly showing unique identifier on residential mortgage loan application forms as Subdiv. (1), designating existing provisions re solicitations and advertisements as Subdiv. (2), and amending same by adding provision re unique identifier to be clearly stated in audio solicitations or advertisements, adding Subdiv. (3) re unique identifier of mortgage loan originator or loan processor or underwriter to be clearly shown on solicitations and advertisements and clearly stated in audio solicitations and advertisements disseminated by certain persons, and making technical and conforming changes, and added Subsec. (b) re advertising of person licensed under Sec. 36a-489.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 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.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 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 application of such provision to other persons or circumstances shall not be affected.
(P.A. 09-209, S. 22; P.A. 18-173, S. 21.)
History: P.A. 09-209 effective July 31, 2009; P.A. 18-173 replaced reference to Sec. 36a-498f with reference to Sec. 36a-498e, added reference to Sec. 36a-498h, and made a technical change.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 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 prerecorded voice without the prior express written consent of the recipient;
(2) Fail to transmit the lead generator's name and telephone number to any caller identification service in use by a consumer;
(3) Initiate an outbound telephone call to a consumer's residence between nine o'clock p.m. and eight o'clock a.m. local time in the consumer's location;
(4) Fail to clearly and conspicuously identify the lead generator and the purpose of the contact in its written and oral communications with a consumer;
(5) Fail to provide the ability to opt out of any unsolicited advertisement communicated to a consumer via an electronic mail address;
(6) Initiate an unsolicited advertisement via electronic mail to a consumer more than ten business days after the receipt of a request from such consumer to opt out of such unsolicited advertisements;
(7) Use a subject heading or electronic mail address in a commercial electronic mail message that would likely mislead a recipient, acting reasonably under the circumstances, about a material fact regarding the sender, contents or subject matter of the message;
(8) Sell, lease, exchange or otherwise transfer or release the electronic mail address or telephone number of a consumer who has requested to opt out of future solicitations;
(9) Collect, buy, lease, exchange or otherwise transfer or receive an individual's Social Security number or bank account number;
(10) Use information from a trigger lead to solicit consumers who have opted out of firm offers of credit under the federal Fair Credit Reporting Act;
(11) Initiate a telephone call to a consumer who has placed his or her contact information on a federal or state Do Not Call list, unless the consumer has provided express written consent;
(12) Represent to the public, through advertising or other means of communicating or providing information, including, but not limited to, the use of business cards or stationery, brochures, signs or other promotional items, that such lead generator can or will perform any other activity requiring licensure under this title, unless such lead generator is duly licensed to perform such other activity or exempt from such licensure requirements; or
(13) Refer applicants to, or receive a fee from, any person who is required to be licensed under this title but was not so licensed as of the time of performance of such lead generator's services.
(b) A violation of any provision of this section shall be deemed an unfair or deceptive act or practice pursuant to subsection (a) of section 42-110b.
(P.A. 17-38, S. 16.)
History: P.A. 17-38 effective January 1, 2018.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 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.

Sections 36a-510 to 36a-517, inclusive, are repealed, effective July 1, 2008.
(P.A. 77-228, S. 1
–
8; 77-604, S. 81, 84; 77-614, S. 161, 587, 610; P.A. 78-216, S. 1
–
7; 78-303, S. 85, 136; P.A. 80-67, S. 1
–
5; 80-482, S. 251, 345, 348; P.A. 81-472, S. 69, 159; P.A. 82-174, S. 1, 14; P.A. 86-403, S. 76, 132; P.A. 87-9, S. 2, 3; 87-66; P.A. 88-14; 88-150, S. 2; 88-230, S. 1, 12; P.A. 89-211, S. 40; P.A. 90-98, S. 1, 2; 90-184, S. 1
–
4; P.A. 92-12, S. 64; 92-89, S. 4, 20; 92-132, S. 1, 5; P.A. 93-130, S. 1, 3; 93-142, S. 4, 7, 8; P.A. 94-104, S. 1; 94-122, S. 240
–
245, 340; P.A. 96-71, S. 3, 8; P.A. 99-63, S. 4; P.A. 00-61, S. 3, 9; P.A. 02-111, S. 15
–
22; P.A. 04-69, S. 12
–
15; P.A. 05-46, S. 4, 5; P.A. 06-45, S. 7
–
9; P.A. 07-91, S. 4
–
6, 18; 07-156, S. 16
–
22; P.A. 08-176, S. 31, 83, 84.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-518. (Formerly Sec. 36-224i). - Regulations.

Section 36a-518 is repealed, effective October 1, 2002.
(P.A. 77-228, S. 9; P.A. 02-111, S. 51.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-519 to 36a-524. (Formerly Secs. 36-224j to 36-224o). - Prepayment penalties. Release of secondary mortgage; notice of loan balance. Limitation on prepaid finance charges; demand for payment prior to maturity; liability of mortgage lender to borrower for noncompliance; refundability of advance fees; exceptions; prohibited acts by mortgage lenders and secondary mortgage brokers re borrowers. Mortgage deeds. Applications and referrals from unlicensed secondary mortgage brokers or originators. Advertisements.

Sections 36a-519 to 36a-524, inclusive, are repealed, effective July 1, 2008.
(P.A. 80-67, S. 6, 7; P.A. 83-460, S. 1
–
3; P.A. 84-69, S. 1, 3; P.A. 90-184, S. 5, 6; P.A. 91-306, S. 4
–
6; P.A. 92-132, S. 2, 5; P.A. 93-130, S. 2, 3; P.A. 94-122, S. 246
–
248, 340; P.A. 99-63, S. 5; P.A. 01-34, S. 14; P.A. 02-12, S. 3; 02-111, S. 23
–
27; P.A. 03-61, S. 1, 2; P.A. 06-45, S. 10; P.A. 07-118, S. 2; 07-156, S. 23, 24; P.A. 08-176, S. 31, 83, 84.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-534a. - Notice of discriminatory lending practices. Violation as grounds for license suspension, revocation or nonrenewal.

(a) Any mortgage broker, or mortgage lender or mortgage correspondent lender, as defined in section 36a-485 and licensed pursuant to section 36a-489, shall notify the commissioner by written affidavit if any such mortgage broker, mortgage lender or mortgage correspondent lender, as a result of a transaction in which such mortgage broker, mortgage lender or mortgage correspondent lender was involved, reasonably believes that the lending practices of a financial institution or federal bank violate section 36a-737 or 46a-66. Such mortgage broker, mortgage lender or mortgage correspondent lender shall provide the commissioner with any written document containing lending restrictions which a financial institution or federal bank has provided to such mortgage broker, mortgage lender or mortgage correspondent lender. In the event the commissioner finds that there is a reasonable basis for said notification, the commissioner shall notify the Commission on Human Rights and Opportunities of said notification and the action the commissioner plans to take with respect thereto.
(b) The commissioner may suspend, revoke or refuse to renew the license of any such broker or lender who violates subsection (a) of this section.
(P.A. 98-221; P.A. 99-36, S. 31; P.A. 02-111, S. 28; P.A. 08-176, S. 57.)
History: P.A. 99-36 made technical changes; P.A. 02-111 amended Subsec. (a) by adding references to “first” mortgage broker, “secondary mortgage” broker and “mortgage” lender and made a technical change in Subsec. (b); P.A. 08-176 amended Subsec. (a) to add references to “mortgage correspondent lender” and make conforming changes, effective July 1, 2008.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-534c. - Reports re system.

Section 36a-534c is repealed, effective June 9, 2017.
(P.A. 07-156, S. 25; P.A. 08-176, S. 67; P.A. 12-96, S. 17; P.A. 17-38, S. 17.)
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-536. (Formerly Sec. 36-255). - License required. Location of licensed activity.

No person, unless excluded from the definition of a “sales finance company” as provided in section 36a-535, shall engage in the business of a sales finance company unless such person has obtained a license for its main office and for each branch office where such business is conducted in accordance with the provisions of sections 36a-535 to 36a-547, inclusive. Any activity subject to licensure pursuant to sections 36a-535 to 36a-547, inclusive, shall be conducted from an office located in a state, as defined in section 36a-2. A licensee under sections 36a-535 to 36a-547, inclusive, shall not be required to obtain any other license in this state in order to perform any act permitted or required to be performed by such licensee under said sections.
(1949 Rev., S. 5964 (1), (6); March, 1958, P.A. 27, S. 32; P.A. 81-128, S. 6; P.A. 94-122, S. 250, 340; P.A. 18-173, S. 24.)
History: P.A. 81-128 eliminated reference to repealed Subsec. (h) of Sec. 36-254 and clarified licensing exemption; P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-255 transferred to Sec. 36a-536 in 1995; P.A. 18-173 replaced reference to person licensed as provided in Secs. 36a-535 to 36a-546 with provision re person obtaining license for main office and each branch office, added provision re activities to be conducted from office located in a state, and made a conforming change.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-538. (Formerly Sec. 36-256b). - Payment of cost of investigation.

Each person applying for a license as a sales finance company or a renewal thereof shall pay the actual cost, at the discretion of and as determined by the commissioner, of any investigation or examination made of such person by the commissioner.
(1967, P.A. 631, S. 7; P.A. 94-122, S. 252, 340.)
History: P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-256b transferred to Sec. 36a-538 in 1995.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-544. (Formerly Sec. 36-260b). - Regulations.

(a) The commissioner may adopt regulations, in accordance with chapter 54, as necessary to carry out the provisions of sections 36a-535 to 36a-547, inclusive, including the defining of any terms, whether or not used in said sections, so far as the definitions are not inconsistent with the provisions of said sections.
(b) No regulation may be adopted under this section unless the commissioner finds that the action is necessary or appropriate in the public interest or for the protection of purchasers and consistent with the purposes fairly intended by the policy and provisions of sections 36a-535 to 36a-547, inclusive.
(1967, P.A. 631, S. 6; P.A. 94-122, S. 257, 340; P.A. 18-173, S. 90.)
History: P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-260b transferred to Sec. 36a-544 in 1995; P.A. 18-173 replaced references to Sec. 36a-546 with references to Sec. 36a-547.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-545. (Formerly Sec. 36-262a). - Books and records.

Each applicant or licensee shall have established bookkeeping methods and shall keep books and records at the place of business specified in the license in a form and manner satisfactory to the commissioner, or shall make such books and records available at such place of business not later than five business days after requested by the commissioner. All such books and records shall be preserved for at least two years after the making of the final entry therein.
(1967, P.A. 631, S. 8; P.A. 00-61, S. 4, 9.)
History: Sec. 36-262a transferred to Sec. 36a-545 in 1995; P.A. 00-61 added provision re availability of books and records at place of business, effective July 1, 2000.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-546. (Formerly Sec. 36-263). - Penalty.

Any individual, corporation, partnership, limited partnership, association or other unincorporated enterprise, and any responsible officer, partner or employee thereof, who wilfully fails to comply with or violates any of the provisions of sections 36a-535 to 36a-547, inclusive, or who engages in business as a sales finance company without being licensed as a sales finance company by the commissioner in accordance with the provisions of said sections, shall be fined not more than five hundred dollars or imprisoned not more than six months or both.
(1949 Rev., S. 5968; P.A. 18-173, S. 91.)
History: Sec. 36-263 transferred to Sec. 36a-546 in 1995; P.A. 18-173 replaced “36a-545” with “36a-547”.
Annotation to former section 36-263:
Cited. 139 C. 425.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-547. - Retail installment contract records.

On and after October 1, 2018, a sales finance company, as defined in section 36a-535, shall acquire and maintain adequate records in the form and manner as the commissioner shall direct in each retail installment contract acquired by purchase, discount, pledge, loan, advance or otherwise, and any application for a retail installment contract, covering the retail sale of a motor vehicle in the state that has been reviewed by the sales finance company or relates to a retail installment contract acquired by the sales finance company, including, but not limited to, the: (1) Name, address, income, credit score, ethnicity, race and sex of the applicant and any coapplicants; (2) type, amount and annual percentage rate of the loan; and (3) disposition of the application. Such records shall be made available to the Banking Commissioner not later than five business days after a request for such records by the commissioner. Each sales finance company shall retain such records for not less than two years after the date of the application for applications that were denied or, for any retail installment contract that was acquired, for not less than two years after the date of final payment or sale or assignment of such contract, whichever occurs first, or such longer period as may be required by any other provision of law. On or before July 1, 2019, each licensee shall provide to the commissioner the records collected between October 1, 2018, to June 30, 2019, inclusive.
(P.A. 16-65, S. 15; P.A. 17-236, S. 5; P.A. 18-173, S. 97.)
History: P.A. 16-65 effective May 26, 2016; P.A. 17-236 made a technical change, effective July 11, 2017; P.A. 18-173 replaced “October 1, 2016” with “October 1, 2018”, amended Subdiv. (1) by adding “, ethnicity, race and sex” and deleting “and, if known, the ethnicity, race and sex of such individuals”, replaced “January 30, 2017” with “July 1, 2019”, and replaced “December 31, 2016” with “June 30, 2019”, and made technical changes.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-560. (Formerly Sec. 36-230). - Restrictions on licensee.

No licensee shall:
(1) Cause a borrower, including, but not limited to, a comaker or guarantor, to owe at any time more than fifteen thousand dollars in principal on one or more small loans;
(2) Induce or permit a borrower to split or divide any small loan or loans, or induce or permit a borrower to become obligated, directly or indirectly, under more than one contract of loan at the same time, primarily for the purpose of obtaining rates or charges that would otherwise be prohibited by any applicable provision of sections 36a-555 to 36a-573, inclusive;
(3) Take any (A) confession of judgment, (B) power of attorney, (C) note or promise to pay that does not state the actual amount of the loan, the time period for which the loan is made and the charges for such loan, or (D) instrument related to the loan in which blanks are left to be filled after the loan is made;
(4) Offer the borrower any other product or service for which there is or will ever be any cost to the borrower in connection with a small loan unless (A) permitted by sections 36a-555 to 36a-573, inclusive, (B) authorized under another license, or by applicable exemption from any requirement for such licensure, to offer such product or services, or (C) if no separate license or exemption therefrom is required to offer such product or services, authorized in advance, in writing, by the commissioner upon being satisfied that such other product or service is of such a character that the granting of such authority would not permit or easily facilitate evasion of the provisions of sections 36a-555 to 36a-573, inclusive, or of any regulations promulgated thereunder; or
(5) Renew or refinance a small loan unless the renewal or refinancing of the loan will result in a distinct advantage to the borrower, provided restoration to a contractually up-to-date condition shall not, in itself, constitute a distinct advantage to the borrower.
(1949 Rev., S. 5943; P.A. 78-303, S. 52, 136; P.A. 87-9, S. 2, 3; P.A. 94-122, S. 262, 340; P.A. 08-119, S. 7; P.A. 16-65, S. 24; P.A. 18-173, S. 33.)
History: P.A. 78-303 replaced banking commission with banking commissioner in keeping with provisions of P.A. 77-614; (Revisor's note: Pursuant to P.A. 87-9 “banking commissioner” was changed editorially by the Revisors to “commissioner of banking”); P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-230 transferred to Sec. 36a-560 in 1995; P.A. 08-119 added requirement for surrender of license when licensee ceases to engage in the business of a small loan lender; P.A. 16-65 replaced former provisions with introductory language and Subdivs. (1) to (5) re restrictions on licensee, effective July 1, 2016; P.A. 18-173 made a technical change.
2023 Connecticut General Statutes › Title 36a - The Banking Law of Connecticut › Chapter 668 - Nondepository Financial Institutions › Section 36a-561. (Formerly Sec. 36-231). - Prohibited practices.

No person licensed or required to be licensed and no control person shall, directly or indirectly:
(1) Assist or aid and abet any person in conduct prohibited by sections 36a-555 to 36a-573, inclusive;
(2) Employ any scheme, device or artifice to defraud or mislead any person in connection with a small loan;
(3) Make, in any manner, any false, misleading or deceptive statement or representation in connection with a small loan or engage in bait and switch advertising;
(4) Engage in any unfair or deceptive practice toward any person or misrepresent or omit any material information in connection with a small loan; or
(5) Fail to establish, enforce and maintain policies and procedures for supervising employees, agents and office operations that are reasonably designed to achieve compliance with applicable laws and regulations concerning small loan lenders.
(1949 Rev., S. 5948 (1); P.A. 94-122, S. 263, 340; P.A. 16-65, S. 25; P.A. 17-233, S. 15.)
History: P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-231 transferred to Sec. 36a-561 in 1995; P.A. 16-65 replaced former provisions with introductory language and Subdivs. (1) to (4) re prohibited practices, effective July 1, 2016; P.A. 17-233 added reference to control persons, added Subdiv. (5) re failure to establish, enforce and maintain policies and procedures, and made a technical change.