reglab/statecodes huggingface dataset:
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 2 - RULES OF PRACTICE IN CONTESTED CASES › Section 36a-1-50 - Review by commissioner of rulings

Current through July 10, 2024
If a hearing is held before a presiding officer other than
				  the commissioner, a party, before rendition of the final decision, may, in
				  accordance with section
				  4-178a
				  of the Connecticut General Statutes, request a review by the commissioner of
				  any preliminary, procedural or evidentiary ruling made at the hearing. The
				  commissioner may make an appropriate order, including the reconvening of the
				  hearing.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 2 - RULES OF PRACTICE IN CONTESTED CASES › Section 36a-1-51 - Proposed final decision

Current through July 10, 2024
(a) If the
				presiding officer has been designated by the commissioner as the hearing
				officer, the presiding officer shall submit to the commissioner a proposed
				final decision made in accordance with section
				4-179
				of the Connecticut General Statutes. The commissioner shall consider the
				proposed final decision when rendering the agency's final decision and may, if
				required by justice, order the taking of additional evidence on the record or
				preside over such a proceeding on the record.
(b) The commissioner may adopt, modify in
				whole or in part, or reject the proposed final decision submitted by a
				presiding officer.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 2 - RULES OF PRACTICE IN CONTESTED CASES › Section 36a-1-52 - Final decision

Current through July 10, 2024
A final decision in a contested case shall be rendered in
				  accordance with the provisions of section
				  4-180
				  of the Connecticut General Statutes. All decisions and orders of the
				  commissioner concluding a contested case shall be in writing. If a final
				  decision is adverse to a party, the decision shall include all findings of fact
				  and conclusions of law relied upon by the commissioner in arriving at the
				  decision, the findings of fact and conclusions of law to be separately stated.
				  The findings of fact shall also set forth a concise and explicit statement of
				  the underlying facts supporting the findings of fact, where
				  appropriate.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 2 - RULES OF PRACTICE IN CONTESTED CASES › Section 36a-1-53 - Reconsideration

Current through July 10, 2024
A party or the department may file a petition for
				  reconsideration of a final decision and the commissioner may reconsider,
				  reverse, modify or correct a final decision in accordance with section
				  4-181a
				  of the Connecticut General Statutes.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 2 - RULES OF PRACTICE IN CONTESTED CASES › Section 36a-1-54 - Right to appeal

Current through July 10, 2024
A person who is aggrieved by the final decision of the
				  commissioner may seek judicial review of the decision in accordance with the
				  provisions of section
				  4-183 of
				  the Connecticut General Statutes.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 2 - RULES OF PRACTICE IN CONTESTED CASES › Section 36a-1-55 - Voluntary termination of proceeding

Current through July 10, 2024
(a) Pursuant to
				subsection (c) of section
				4-177
				of the Connecticut General Statutes, unless precluded by law, any contested
				case may be resolved by stipulation, agreed settlement, consent order or
				default. Any party may, at any time in the proceeding, submit to counsel for
				the department, oral or written offers or proposals for settlement of the
				proceeding, without prejudice to the rights of any of the parties. The
				presiding officer shall proceed with a hearing in a contested case unless there
				has been a continuance, default or a written stipulation, settlement agreement
				or consent order that has been executed by the commissioner and a party or, in
				the case of a party that is an entity such as a partnership, limited liability
				company, institution, corporation, agency or institution, a party's authorized
				representative. By submitting an offer of settlement, the party making the
				offer waives, subject to acceptance of the offer, (1) all hearings pursuant to
				the statutory provisions under which the proceeding is to be or has been
				instituted, (2) proceedings before and a proposed final decision by a presiding
				officer, (3) a final decision by the commissioner, (4) all post-hearing
				procedures, and (5) judicial review by any court. Any informal disposition of a
				contested case by the commissioner is without prejudice to the right of the
				commissioner to take any enforcement action against a party to enforce a
				stipulation, agreed settlement or consent order if the commissioner determines
				that a party is not fully complying with any term or condition stated in such
				stipulation, agreed settlement or consent order. A consent order shall contain
				all provisions required by law including, if applicable, subsection (f) of
				section
				36b-27
				or subsection (d) of section
				36b-72
				of the Connecticut General Statutes.
(b) The commissioner may withdraw an order at
				any time before a final decision is issued. A respondent to an order may
				withdraw the request for hearing at any time, an applicant may withdraw a
				request for hearing at any time, and a petitioner for a declaratory ruling or a
				regulation-making may withdraw the petition at any time. Nothing in the rules
				of practice shall preclude the commissioner from withdrawing an order after a
				proceeding has terminated.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 2 - RULES OF PRACTICE IN CONTESTED CASES › Section 36a-1-56 - Stays pending judicial review

Current through July 10, 2024
(a) Unless the
				proceeding has been stayed by a court, if a preliminary, procedural or
				intermediate agency action or ruling is appealed to any court, the challenged
				proceeding shall continue without regard to the pendency of the appeal or
				collateral attack. No default or failure to act as directed in the proceeding
				shall be excused based on the pendency of the appeal or collateral
				attack.
(b) The filing of an appeal
				to the Superior Court of a final decision of the commissioner shall not, unless
				specifically ordered by the commissioner or a reviewing court, operate as a
				stay of any decision issued by the commissioner. The commissioner may, in the
				commissioner's discretion, and on such terms as the commissioner finds just,
				stay the effectiveness of all or any part of a decision pending a final
				decision on a petition for review of that decision.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 2 - RULES OF PRACTICE IN CONTESTED CASES › Section 36a-1-57 - Commissioner's right to conduct an examination

Current through July 10, 2024
Nothing contained in the rules of practice limits in any
				  manner the right of the commissioner to conduct, or continue during the
				  pendency of a contested case, any examination, inspection or investigation of
				  any party.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 3 - PETITIONS AND APPLICATIONS › Section 36a-1-63 - General rule

Current through July 10, 2024
Petitions and applications shall include all forms of
				  proposals, requests, applications, notices, petitions and filings of any nature
				  that are placed before the commissioner pursuant to law, including, but not
				  limited to, petitions for declaratory ruling, petitions for a regulation,
				  applications for any license or registration, and applications for
				  establishment of branches, mergers and consolidations, acquisitions,
				  conversions and bank holding company formations.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 3 - PETITIONS AND APPLICATIONS › Section 36a-1-64 - Form

Current through July 10, 2024
The form to be followed in the filing of petitions and
				  applications pursuant to the rules of practice will vary to the extent
				  necessary to provide for the nature of the legal rights, duties or privileges
				  involved therein. Except as otherwise provided by law or the commissioner
				  otherwise determines, the petitions and applications shall include the
				  following:
(1) Each petition or
				application shall incorporate a statement setting forth clearly and concisely
				the authorization or other relief sought. The statement shall cite by
				appropriate reference the statutory provision or other authority under which
				such authorization or relief is to be granted by the commissioner. In addition
				to the specific requirements for particular types of petitions and
				applications, the petition or application shall further set forth:
(A) The exact legal name of each person
				seeking the authorization or relief and the address or principal place of
				business of each such person. If any applicant or petitioner is a corporation,
				limited liability company, partnership, trust, association or other organized
				group, it shall also specify the state under the laws of which it was created
				or organized.
(B) The name, title,
				address and telephone number of the attorney or other person to whom
				correspondence or communications in regard to the petition or application are
				to be addressed. Notice, orders and other papers may be served upon the person
				so named and such service shall be deemed to be service upon the petitioner or
				applicant.
(C) A concise and
				explicit statement of the facts on which the commissioner is expected to rely
				in granting the authorization or other relief sought.
(D) An explanation of any unusual
				circumstances involved in the petition or application to which the commissioner
				will be expected to direct particular attention, including the existence of
				emergency conditions or any request for the granting of interlocutory relief by
				way of an interim order during the pendency of the petition or
				application.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 3 - PETITIONS AND APPLICATIONS › Section 36a-1-65 - Deficiencies in filing application or petition

Current through July 10, 2024
(a)
				The department may reject any application or petition if it is incomplete or
				otherwise inadequate to permit processing or disposition of an application or
				petition.
(b) Any application
				submitted without the proper fee shall be considered incomplete and shall not
				be approved.
(c) Written notice by
				the department to any applicant that its application is incomplete or has not
				been made current shall stop the running of any period of time that by law
				begins to run when the department receives an application. Any such period of
				time shall begin anew when the deficiency in the application is
				corrected.
(d) If an application is
				incomplete six months after the applicant was provided written notice of the
				deficiency, the commissioner may notify the applicant that the application is
				deemed withdrawn and will no longer be processed.
(e) Nothing shall preclude the commissioner
				from requiring additional information from an applicant or petitioner if the
				application or petition is not rejected under this section.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 3 - PETITIONS AND APPLICATIONS › Section 36a-1-66 - Forms and instructions

Current through July 10, 2024
(a) Copies of forms
				and instructions for the preparation of requests or applications for certain
				approvals, authorizations or licenses are available on the department's web
				site, the Connecticut Licensing Info Center web site at http://www.ct-clic.com
				or may be obtained upon request from the office of the commissioner.
(b) The commissioner may from time to time
				adopt additional forms and instructions, and alter, amend or discontinue any
				form or instruction.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 3 - PETITIONS AND APPLICATIONS › Personal Data(Transferred from Section 36-1-48) › Section 36a-1-70 - Personal data

Current through July 10, 2024
(a)
Authority
These Regulations are promulgated pursuant to the
					 provisions of section
					 4-196
					 of the General Statutes.
(b)
Definitions
(1) "Department" means the Department of
				  Banking and includes the Banking Commissioner.
(2) "Financial institutions" includes all
				  institutions, corporations, partnerships, organizations, associations, sole
				  proprietorships, other individuals and enterprises regulated by the Department,
				  and also includes applicants to become financial institutions.
(3) "Licensee or registrant" means any
				  individual who, or personnel of any financial institution which, has been
				  granted by the Department or has applied to the Department for a permit,
				  certificate, approval, registration, license, charter or similar form of
				  permission required by law.
(4)
				  "Personal data" means any information, as set forth in Section
				  4-190(9)
				  of the General Statutes, and other data, as defined in subsection (7) of this
				  section concerning any individual.
(5) "Category of personal data" means the
				  classification of personal information set forth in the Personal Data Act,
				  Section
				  4-190(9)
				  of the General Statutes.
(6)
				  "Personnel of financial institutions" includes all organizers, directors,
				  incorporators, officers and employees of financial institutions.
(7) "Other data" means any information which
				  because of name, identifying number, mark or description can be readily
				  associated with a particular person.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 4 - REGULATION-MAKING › Section 36a-1-72 - Form of petitions

Current through July 10, 2024
(a) Any interested
				person may at any time petition the commissioner to adopt, amend or repeal any
				regulation.
(b) The petition shall
				conform to the rules of practice where applicable, and shall set forth clearly
				and concisely the text of the proposed regulation, amendment or the provisions
				sought to be repealed. The petition shall also state the facts and arguments
				that favor the action the petitioner proposes by including such data, facts and
				arguments either in the petition or in a brief annexed to the petition. The
				petition shall be signed by the petitioner and shall include the address of the
				petitioner and the name and address of the petitioner's attorney, if
				any.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 4 - REGULATION-MAKING › Section 36a-1-73 - Procedure after petition filed

Current through July 10, 2024
(a) Not more than
				thirty days after receipt of the petition, the commissioner shall determine
				whether to deny the petition or to initiate regulation-making proceedings in
				accordance with law.
(b) If the
				commissioner denies the petition, the commissioner shall give the petitioner
				notice in writing, stating the reasons for the denial.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 4 - REGULATION-MAKING › Section 36a-1-74 - Notice of intent to adopt regulations

Current through July 10, 2024
Prior to the adoption of any regulation, the commissioner
				  shall give such notice as is required by section
				  4-168
				  of the Connecticut General Statutes or other applicable
				  statutes.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 4 - REGULATION-MAKING › Section 36a-1-75 - Procedure after notice of intent to adopt regulations

Current through July 10, 2024
(a) All interested persons may submit data,
				views and arguments in writing to the commissioner not more than thirty days
				after notice of intent to adopt the regulation has been published. Oral
				presentations may be allowed by the commissioner in the commissioner's
				discretion, but an opportunity to present oral argument shall be granted if
				requested by fifteen persons, by a governmental subdivision or agency or by an
				association having not less than fifteen members, provided notice of such
				request is made to the commissioner not later than fourteen days after the date
				of publication of the notice of intent to adopt regulations in the Connecticut
				Law Journal. Upon completion of the hearing, the commissioner may permit
				additional written material to be filed during such period as the commissioner
				may determine.
(b) Upon reaching a
				decision whether to proceed with a proposed regulation or to alter its text
				from that initially proposed, the commissioner shall give notice as required by
				subsection (d) of section
				4-168
				of the Connecticut General Statutes.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 4 - REGULATION-MAKING › Section 36a-1-76 - Availability of regulation, fiscal note and regulation-making record

Current through July 10, 2024
(a) All the regulations and currently pending
				proposed regulations of the commissioner shall be available for inspection
				during normal business hours at the office of the department. Copies of all
				such regulations shall be available to any person upon request. The
				commissioner may charge a reasonable fee for each copy in accordance with the
				provisions of section
				1-212
				of the Connecticut General Statutes.
(b) All interested persons may inspect and
				copy a fiscal note prepared pursuant to subdivision (5) of section
				4-168
				of the Connecticut General Statutes during normal business hours at the office
				of the department.
(c) The official
				regulation-making record that is maintained by the department pursuant to
				section
				4-168b
				of the Connecticut General Statutes shall be available for public inspection
				and copying during normal business hours at the office of the
				department.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 4 - REGULATION-MAKING › Section 36a-1-77 - Advance notice of regulation-making proceedings

Current through July 10, 2024
(a) Any person or group may file a request
				with the commissioner for advance notice of regulation-making proceedings. The
				request shall be clearly titled "Request for Advance Notice of
				Regulation-Making Proceedings" and shall state in order:
(1) The name of the person or group making
				the request;
(2) The address of the
				person or group to which responses shall be mailed; and
(3) The date of the request.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 4 - REGULATION-MAKING › Section 36a-1-78 - Emergency regulations

Current through July 10, 2024
When the commissioner finds that an imminent peril to the
				  public health, safety or welfare so requires, the commissioner may adopt
				  emergency regulations, in accordance with the provisions of subsection (b) of
				  section
				  4-168
				  of the Connecticut General Statutes. If the commissioner adopts emergency
				  regulations, the commissioner shall take appropriate measures to make the
				  emergency regulations known in accordance with section
				  4-172(b)
				  of the Connecticut General Statutes, including giving notice by mail,
				  electronic means, publication in a newspaper or the Connecticut Law
				  Journal.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 5 - DECLARATORY RULINGS › Section 36a-1-83 - General rule

Current through July 10, 2024
The rules of practice set forth the procedure to be followed
				  by the commissioner in the disposition of requests for declaratory rulings as
				  to the validity of any regulation, or the applicability to specified
				  circumstances of any statutory provision, regulation or final decision of the
				  commissioner on a matter within the jurisdiction of the agency in accordance
				  with section
				  4-176
				  of the Connecticut General Statutes. A ruling of the commissioner disposing of
				  a petition for a declaratory ruling shall have the same status as any decision
				  or order of the commissioner in a contested case.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 5 - DECLARATORY RULINGS › Section 36a-1-84 - Form and content of petition for declaratory ruling; filing procedure

Current through July 10, 2024
Any person may request a declaratory ruling from the
				  commissioner with respect to the validity of any regulation or applicability to
				  specified circumstances of any statute, regulation or final decision on a
				  matter within the jurisdiction of the agency. Such request shall be in writing,
				  addressed to the commissioner and filed at the office of the department. It
				  shall give the address of the person seeking the declaratory ruling inquiring
				  and the name and address of such person's attorney, if any. The request shall
				  state clearly and concisely the substance and nature of the request, identify
				  the statute, regulation or final decision concerning which the request is made
				  and identify the particular aspect thereof to which the request is directed.
				  The request for a declaratory ruling shall be accompanied by a statement of any
				  supporting data, facts and arguments that support the position of the person
				  making the inquiry.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 5 - DECLARATORY RULINGS › Section 36a-1-85 - Notice of declaratory ruling petition or declaratory ruling proceeding

Current through July 10, 2024
(a) Not more than thirty days after the
				commissioner receives a petition for declaratory ruling filed in accordance
				with section
				36a-1-84
				of the Regulations of Connecticut State Agencies, the commissioner shall give
				notice of the petition to (1) any person who has requested notice under section
				36a-1-86
				of the Regulations of Connecticut State Agencies, (2) any person who has been
				given status in the declaratory ruling proceeding as a party or an intervenor
				pursuant to section
				36a-1-89
				of the Regulations of Connecticut State Agencies, and (3) any person to whom
				notice is required by any provision of law.
(b) The commissioner may, on the
				commissioner's own initiative, commence a proceeding for the issuance of a
				declaratory ruling as provided by section
				4-176
				of the Connecticut General Statutes. Not less than thirty days before a hearing
				is held in such proceeding or, if no hearing is held, not less than thirty days
				before the commissioner issues the declaratory ruling, the commissioner shall
				give notice of the proceeding to (1) any person who has requested notice under
				section
				36a-1-86
				of the Regulations of Connecticut State Agencies and (2) any person to whom
				notice is required by any provision of law. Such notice shall provide
				information about the opportunity to file comments and to request intervenor or
				party status pursuant section
				36a-1-88
				of the Regulations of Connecticut State Agencies.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 5 - DECLARATORY RULINGS › Section 36a-1-86 - Requests for notice of declaratory ruling petitions or proceedings

Current through July 10, 2024
Any person may request that the department provide notice of
				  the filing of declaratory ruling petitions, or the commencement by the
				  commissioner on the commissioner's own initiative of declaratory ruling
				  proceedings, on a particular subject matter. A request for such notice shall be
				  made in writing, addressed to the commissioner, filed at the office of the
				  department, and contain a specific statement of the subject matter with which
				  the requester is concerned. A request under this section shall be effective
				  only for the calendar year in which it is made and shall expire on December 31
				  of such calendar year.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 5 - DECLARATORY RULINGS › Section 36a-1-87 - Proceedings on declaratory rulings

Current through July 10, 2024
(a) Not more than
				sixty days after the commissioner receives a petition for declaratory ruling
				filed in accordance with section
				36a-1-84
				of the Regulations of Connecticut State Agencies, or issues a notice pursuant
				to section
				36a-1-85
				of the Regulations of Connecticut State Agencies that the commissioner, on the
				commissioner's own initiative, has commenced a proceeding for a declaratory
				ruling, the commissioner shall take action in accordance with subsection (e) of
				section
				4-176
				of the Connecticut General Statutes. The commissioner's decision under such
				subsection, and any declaratory ruling subsequently issued, shall be delivered
				to (1) any person granted status as a party or intervenor under section
				36a-1-89
				of the Regulations of Connecticut State Agencies; (2) any person who filed
				comments under subsection (c) of this section; (3) the petitioner, if
				applicable; and (4) any other person who has filed a written request for notice
				of the declaratory ruling with the commissioner.
(b) The commissioner may order that a hearing
				be held in a declaratory ruling proceeding if the commissioner deems a hearing
				necessary or helpful to determine any issue concerning the request for
				declaratory ruling or when, in the commissioner's judgment, a hearing is
				otherwise appropriate. If the commissioner schedules a hearing in a declaratory
				ruling proceeding, the commissioner shall provide notice of the hearing
				pursuant to subsection (f) of section
				4-176
				of the Connecticut General Statutes. A hearing in a declaratory ruling
				proceeding shall be governed by the provisions of sections
				36a-1-19 to 36a-1-62,
				inclusive, of the Regulations of Connecticut State Agencies.
(c) Whether or not a hearing is held in a
				proceeding for a declaratory ruling, any person may file written comments in
				connection with such proceeding. Comments shall be directed to the
				commissioner, signed by the commenter or by the commenter's attorney or other
				representative, if any, and contain the name and telephone number of the
				commenter and the commenter's attorney or other representative, if any. Unless
				the commissioner provides otherwise, comments shall be filed with the
				commissioner at the office of the department not more than thirty days after
				the commissioner has given notice pursuant to section
				36a-1-85
				of the Regulations of Connecticut State Agencies.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 5 - DECLARATORY RULINGS › Section 36a-1-88 - Petition for party or intervenor status in proceedings for declaratory rulings

Current through July 10, 2024
Any person may apply to be made a party to or an intervenor
				  in a proceeding for a declaratory ruling. Any person who proposes to be
				  admitted as an intervenor or party in a proceeding for a declaratory ruling
				  shall file a written petition to be so designated with the commissioner at the
				  office of the department, and shall mail copies of the request to all parties
				  and intervenors not later than five days before the date of the hearing of the
				  declaratory ruling proceeding. The petition shall state:
(1) The name, address and telephone number of
				the person filing the petition and that of the person's authorized legal
				representative, if any;
(2) The
				manner in which the petitioner's legal rights, duties or privileges shall be
				specifically affected by the proceeding and any facts demonstrating that the
				petitioner's participation is in the interests of justice and will not impair
				the orderly conduct of the proceedings; and
(3) A summary of any evidence that the person
				making the request intends to present.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 1 - Administrative Procedures › Article 5 - DECLARATORY RULINGS › Section 36a-1-89 - Determination of party or intervenor status

Current through July 10, 2024
The commissioner may grant a timely petition to become a
				  party or an intervenor if the commissioner finds that the petitioner has
				  satisfied the standards of subsection (d) of section
				  4-176
				  of the Connecticut General Statutes. The commissioner may define an
				  intervenor's participation in the manner set forth in subsection (d) of section
				  4-177a
				  of the Connecticut General Statutes.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 34 - Community Reinvestment Act Compliance, Consumer Protection Law Compliance and Community Reinvestment Plan Requirements for Certain Transaction Applications › Section 36a-34-1 - Definitions

Current through July 10, 2024
(a) As used in sections 36a-34-1 to
			 36a-34-3,
			 inclusive, of the Regulations of Connecticut State Agencies:
(1) "Connecticut holding company" shall have
			 the same meaning as set forth in section
			 36a-410
			 of the Connecticut General Statutes.
(2) "Entity" shall have the same meaning as
			 set forth in subsection (a) of section
			 36a-34
			 of the Connecticut General Statutes.
(3) "Federal CRA" shall have the same meaning
			 as set forth in subsection (a) of section
			 36a-30
			 of the Connecticut General Statutes.
(4) "Resulting entity" shall have the same
			 meaning as set forth in subsection (a) of section
			 36a-34
			 of the Connecticut General Statutes.
(5) "State CRA" means sections
			 36a-30
			 to
			 36a-33,
			 inclusive, of the Connecticut General Statutes.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 34 - Community Reinvestment Act Compliance, Consumer Protection Law Compliance and Community Reinvestment Plan Requirements for Certain Transaction Applications › Section 36a-34-2 - Submissions concerning community reinvestment act compliance, consumer protection law compliance and community reinvestment plan required in connection with applications for the establishment of branches, mergers or consolidations, the organization of holding companies and interstate banking approvals

Current through July 10, 2024
(a) In connection
			 with any application for an approval pursuant to section
			 36a-125,
			 subsections (b), (c) and (d) of section
			 36a-145,
			 section
			 36a-181,
			 section
			 36a-411
			 or subdivisions (1) and (2) of subsection (a) of section
			 36a-412
			 of the Connecticut General Statutes, the applicant or applicants shall submit
			 to the commissioner to the extent applicable, except as waived by the
			 commissioner, the following information with respect to each entity:
(1) A copy of the entity's most recent
			 Federal CRA performance evaluation, including the composite Federal CRA
			 rating;
(2) Copies of any decision
			 or order issued during the last two years by any federal financial supervisory
			 agency concerning the entity's compliance with Federal CRA;
(3) An opinion of counsel addressing the
			 entity's record of compliance with applicable consumer protection laws during
			 the last two years, if requested by the commissioner in any case where the
			 commissioner is unable to determine such record of compliance based on state or
			 federal reports of examination prepared within the last two years and other
			 documentation filed by the applicant or applicants, or is not satisfied with
			 the contents of such reports and documentation; and
(4) Copies of any administrative or judicial
			 decision or order concerning the entity's compliance with applicable consumer
			 protection laws.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 34 - Community Reinvestment Act Compliance, Consumer Protection Law Compliance and Community Reinvestment Plan Requirements for Certain Transaction Applications › Section 36a-34-3 - Submissions concerning community reinvestment act compliance, consumer protection law compliance and community reinvestment plan required in connection with the acquisition of beneficial ownership of voting securities of banks and holding companies

Current through July 10, 2024
(a) In connection
			 with any acquisition statement filed pursuant to section
			 36a-184
			 of the Connecticut General Statutes:
(1) If
			 the acquiring person is a holding company, the acquiring person shall submit to
			 the commissioner to the extent applicable, except as waived by the
			 commissioner, the following information regarding the acquiring person's
			 subsidiaries:
(A) A copy of the subsidiaries'
			 most recent Federal CRA performance evaluation including the composite Federal
			 CRA rating;
(B) Copies of any
			 decision or order issued during the last two years by any federal financial
			 supervisory agency concerning the subsidiaries' compliance with Federal
			 CRA;
(C) An opinion of counsel
			 addressing the subsidiaries' record of compliance with applicable consumer
			 protection laws during the last two years, if requested by the commissioner in
			 any case where the commissioner is unable to determine such record of
			 compliance based on state or federal reports of examination prepared within the
			 last two years and other documentation filed by the acquiring person, or is not
			 satisfied with the contents of such reports and documentation; and
(D) Copies of any administrative or judicial
			 decision or order concerning the subsidiaries' compliance with applicable
			 consumer protection laws.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 40 - Retention of Records by Connecticut Banks and Connecticut Credit Unions › Transferred from Section 36-2a › Section 36a-40-1 - Definitions

Current through July 10, 2024
As used in sections
				  36a-40-3 and
				  36a-40-4
				  of the Regulations of Connecticut State Agencies:
(1) "Advices" includes debit and credit
				advices on correspondent accounts and on all demand accounts.
(2) "Daily transactions journal" includes
				computer reports, machine created journals and any other transaction journal
				sources for all departments.
(3)
				"Payment record" includes all loan coupons, direct billings, and whenever
				applicable, paid loan ticklers.
(4)
				"Tellers' balance sheets" includes various tellers' functions, such as bond and
				food stamp tellers.
(5) "Trial
				balances" includes computer reports, adding machine tapes and any other trial
				balance sources for all departments.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 40 - Retention of Records by Connecticut Banks and Connecticut Credit Unions › Transferred from Section 36-2a › Section 36a-40-2 - General rules

Current through July 10, 2024
(a) Section
				36a-40-3 of The
				Regulations of Connecticut State Agencies lists the records that shall be
				retained by Connecticut banks and the length of time that each such record
				shall be retained. Section
				36a-40-4
				of the Regulations of Connecticut State Agencies lists the records that shall
				be retained by Connecticut credit unions and the length of time that each such
				record shall be retained. Unless otherwise required by sections
				36a-40-3 and
				36a-40-4
				of the Regulations of Connecticut State Agencies, the retention period shall
				commence on the date of the document. Retention schedules for records which are
				not listed in sections
				36a-40-3 and
				36a-40-4
				of the Regulations of Connecticut State Agencies and which are routine or
				internal in nature may be established by each Connecticut bank or Connecticut
				credit union according to experience and policy with advice of counsel and with
				approval by the members of the governing board properly recorded in the minute
				book.
(b) Unless otherwise required
				by this section or sections
				36a-40-3 and
				36a-40-4
				of the Regulations of Connecticut State Agencies:
(1) All correspondence in connection with
				records listed for retention in sections
				36a-40-3 and
				36a-40-4
				of the Regulations of Connecticut State Agencies shall be retained for the same
				length of time as the scheduled item;
(2) All other correspondence shall be treated
				as routine or internal records as described in subsection (a) of this section;
				and
(3) Any successor form to a
				federal or state tax form listed for retention in section
				36a-40-3 or
				36a-40-4
				of the Regulations of Connecticut State Agencies shall be retained for the same
				length of time as the scheduled item.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 40 - Retention of Records by Connecticut Banks and Connecticut Credit Unions › Transferred from Section 36-2a › Section 36a-40-4 - Connecticut credit unions

Current through July 10, 2024
(a)
Administrative - Retention Schedule
(1) Minutes of members' meetings, minutes of
				governing board and various committees - Permanent
(2) Supervisory committee comprehensive
				annual audit reports and attachments including CPA audits - 7 years
(3) Supervisory committee records of 100%
				verification of members' accounts - 7 years
(4) Charter or certificate of organization,
				license, by-laws and amendments - Permanent
(5) General ledger - 25 years
(6) Journal and cash ledger and records - 25
				years
(7) Subsidiary expense ledger
				- 25 years
(8) Journal vouchers
				(not otherwise specified in this section) - 7 years
(9) Documents pertaining to currently held
				real estate - Permanent
(10)
				Regulations, orders and other correspondence from the Commissioner of Banking -
				Permanent
(11) Monthly financial
				and statistical reports and schedule of delinquent loans - 2 years
(12) Paid bills and invoices - 7
				years
(13) Dividend work sheets and
				payment records - 7 years
(14)
				Interest refund payment records - 7 years
(15) Trial balance of general ledger accounts
				- 7 years
(16) Any records of
				transactions which are the subject of litigation - Permanent
(17) Surety bonds - Current plus 6
				years
(18) Other insurance not
				specified in this section - Current plus 2 years
(19) Leases, agreements and contracts - 7
				years after expiration
(20) All
				legal rulings - 7 years after expiration of resulting action
(21) All federal and state tax records not
				otherwise required by this section - 7 years
(22) Power of attorney - 7 years after
				account is closed
(23) Copies of
				each annual financial and statistical report (Dec. 31 before and after closing)
				and year end schedule of delinquent loans including all reports filed with the
				Commissioner of Banking - Permanent
(24) Authorization to pay various insurance
				premiums for members (open accounts) - Permanent
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 136 - Conversion of Mutual Connecticut Banks to Capital Stock Connecticut Banks › Section 36a-136-1 - Definitions

Current through July 10, 2024
As used in sections 36a-136-1 to
				36a-136-48,
				inclusive, of the Regulations of Connecticut State Agencies, unless the context
				otherwise requires:
(1) "Acting in
			 concert" means (A) knowing participation in a joint activity or interdependent
			 conscious parallel action towards a common goal whether or not pursuant to an
			 express agreement, or (B) a combination or pooling of voting or other interests
			 in the securities of an issuer for a common purpose pursuant to any contract,
			 understanding, relationship, agreement or other arrangement, whether written or
			 otherwise. A person that acts in concert with another person shall also be
			 deemed to be acting in concert with any person that is also acting in concert
			 with that other person, except that any tax-qualified employee stock benefit
			 plan shall not be deemed to be acting in concert with its trustee or a person
			 that serves in a similar capacity solely for the purpose of determining whether
			 stock held by the trustee and stock held by the plan will be aggregated. For
			 purposes of the share purchase limitations of sections
			 36a-136-24
			 to
			 36a-136-32,
			 inclusive, of the Regulations of Connecticut State Agencies, the following
			 presumptions shall apply:
(A) Persons shall
			 be presumed to be acting in concert with each other where both own stock in a
			 bank or out-of-state bank and both are also management officials, controlling
			 shareholders, partners or trustees of another company, or one person provides
			 credit to another person or is instrumental in obtaining financing for another
			 person to purchase stock of the converting institution,
(B) a company controlling or controlled by
			 another company and companies under common control shall be presumed to be
			 acting in concert,
(C) persons
			 shall be presumed to be acting in concert where they constitute a group under
			 the beneficial ownership reporting rules under Section 13 of the Securities
			 Exchange Act of 1934,
			 15 USC
			 78m, or the proxy rules under Section 14 of
			 the Securities Exchange Act of 1934,
			 15 USC
			 78n, promulgated by the Securities and
			 Exchange Commission,
(D) a person
			 shall be presumed to be acting in concert with any trust for which such person
			 serves as trustee, except that a tax-qualified employee tax benefit plan shall
			 not be presumed to be acting in concert with its trustee or a person acting in
			 a similar fiduciary capacity and
(E) persons shall be presumed to be acting in
			 concert with each other and with any other person with which they also are
			 presumed to act in concert;
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 136 - Conversion of Mutual Connecticut Banks to Capital Stock Connecticut Banks › Section 36a-136-2 - Pre-conversion meeting

Current through July 10, 2024
Appropriate representatives of the converting institution
				designated by its governing board shall meet with the commissioner before the
				converting institution files its conversion application to discuss the
				conversion, general issues that the converting institution may confront in the
				conversion process and any other pertinent issues.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 136 - Conversion of Mutual Connecticut Banks to Capital Stock Connecticut Banks › Section 36a-136-3 - Business plan

Current through July 10, 2024
(a) Prior to filing
			 an application for conversion, the converting institution shall adopt a
			 business plan reflecting the converting institution's intended plans for
			 deployment of the proposed conversion proceeds. The chief executive officer and
			 the governing board shall review, and at least a majority of the governing
			 board shall approve, the business plan. Such business plan is required under
			 section
			 36a-136-8 of
			 the Regulations of Connecticut State Agencies to be included in the conversion
			 application. At a minimum, the business plan shall address:
(1) The converting institution's projected
			 operations and activities for three years following the conversion. The
			 converting institution shall describe how it will deploy the conversion
			 proceeds at the converted institution and holding company, if applicable, what
			 opportunities are available to reasonably achieve the planned deployment of
			 conversion proceeds and how the deployment will provide a reasonable return
			 commensurate with investment risk, investor expectations and industry norms by
			 the final year of the business plan. The converting institution shall include
			 three years of projected financial statements. The business plan shall provide
			 that the converted institution shall retain at least fifty per cent of the net
			 conversion proceeds. The commissioner may:
(A) Require that a larger percentage of
			 proceeds remain in the converted institution, or
(B) authorize the converted institution to
			 retain a smaller percentage if the commissioner determines that the proposed
			 deployment of proceeds is consistent with safety and soundness and will benefit
			 the community;
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 136 - Conversion of Mutual Connecticut Banks to Capital Stock Connecticut Banks › Section 36a-136-4 - Confidentiality

Current through July 10, 2024
(a) The converting institution may discuss
			 information about the conversion with individuals that it authorizes to prepare
			 documents for the conversion or otherwise engages to assist in the conversion
			 process.
(b) Except as permitted
			 under subsection (a) of this section, the converting institution shall keep all
			 information about the conversion confidential until its governing board adopts
			 the plan of conversion.
(c) If the
			 converting institution violates this section, the commissioner may require it
			 to take remedial action, including any or all of the following actions:
(1) Publicly announce that the converting
			 institution is considering a conversion;
(2) Set an eligibility record date acceptable
			 to the commissioner;
(3) Limit the
			 subscription rights of any person who violates or aids in a violation of this
			 section; or
(4) Take any other
			 action to assure that the conversion is fair and equitable.
Connecticut Administrative Code › Title 36a - The Banking Law of Connecticut › 136 - Conversion of Mutual Connecticut Banks to Capital Stock Connecticut Banks › Section 36a-136-5 - Adoption of plan of conversion

Current through July 10, 2024
Prior to filing an application for conversion, the governing
				board of the converting institution shall adopt, by at least a majority vote, a
				plan of conversion that conforms to sections
				36a-136-1 to
				36a-136-48,
				inclusive, of the Regulations of Connecticut State Agencies. The plan of
				conversion is required, under section
				36a-136-8 of
				the Regulations of Connecticut State Agencies, to be included in the converting
				institution's conversion application. The plan of conversion shall include the
				information included in sections
				36a-136-18
				to
				36a-136-37,
				inclusive, and 36a-136-39 of the Regulations of Connecticut State Agencies. The
				commissioner may require the converting institution to delete or revise any
				provision in the plan of conversion if the commissioner determines that the
				provision is inequitable, detrimental to the converting institution, its
				account holders or other Connecticut-chartered banks or contrary to public
				interest.