Bill Text: CT HB05497 | 2018 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: An Act Prohibiting Certain Employers In The Securities Industry From Requiring Employees To Enter Into Noncompete Agreements.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2018-04-05 - File Number 262 [HB05497 Detail]

Download: Connecticut-2018-HB05497-Introduced.html

General Assembly

 

Raised Bill No. 5497

February Session, 2018

 

LCO No. 1976

 

*01976_______BA_*

Referred to Committee on BANKING

 

Introduced by:

 

(BA)

 

AN ACT PROHIBITING CERTAIN EMPLOYERS IN THE SECURITIES INDUSTRY FROM REQUIRING EMPLOYEES TO ENTER INTO NONCOMPETE AGREEMENTS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective October 1, 2018) On or after October 1, 2018, no agent, broker-dealer, investment adviser or investment adviser agent, each as defined in section 36b-3 of the general statutes, may require as a condition for employment that any person enter into an agreement prohibiting such person from engaging in the same or a similar job, for another employer or as a self-employed person, for a specified period of time after termination of employment with such agent, broker-dealer, investment adviser or investment adviser agent. Any such prohibition in an agreement entered into, renewed or extended on or after October 1, 2018, shall be void.

This act shall take effect as follows and shall amend the following sections:

Section 1

October 1, 2018

New section

Statement of Purpose:

To prevent employers in the securities industry from requiring employees to enter into noncompete agreements.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]

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