Bill Text: CT SB00906 | 2011 | General Assembly | Introduced

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Bill Title: An Act Concerning Connecticut Banks.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2011-02-25 - Public Hearing 03/01 [SB00906 Detail]

Download: Connecticut-2011-SB00906-Introduced.html

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General Assembly		Raised Bill No. 906
January Session, 2011		LCO No. 2509
		*02509_______BA_*
Referred to Committee on Banks
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 general statutes is amended by adding subdivision (42) as follows (Effective October 1, 2011):

(NEW) (42) 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, 2011.

This act shall take effect as follows and shall amend the following sections:
Section 1	October 1, 2011	36a-250(a)

Statement of Purpose:

To clarify certain powers of Connecticut banks.

[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.]