Bill Text: CT SB00405 | 2016 | General Assembly | Comm Sub

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Bill Title: An Act Concerning Connecticut Banks.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2016-05-03 - Senate Recommitted to Banking [SB00405 Detail]

Download: Connecticut-2016-SB00405-Comm_Sub.html

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General Assembly		Raised Bill No. 405
February Session, 2016		LCO No. 2220
		*_____SB00405BA____031616____*
Referred to Committee on BANKING
Introduced by:
(BA)

AN ACT CONCERNING CONNECTICUT BANKS.

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

Section 1. Subsection (a) of section 36a-250 of the 2016 supplement to the general statutes is amended by adding subdivision (43) as follows (Effective October 1, 2016):

(NEW) (43) Organize an interim Connecticut bank pursuant to subsection (p) of section 36a-70 solely for the acquisition of an existing bank or to facilitate any other corporate transaction as provided in said subsection. Nothing in this subdivision shall be deemed to invalidate or otherwise affect any such acquisition or other transaction entered into prior to October 1, 2016.

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2016	36a-250(a)

BA

Joint Favorable