Bill Text: CT SB01112 | 2015 | General Assembly | Introduced

---

Bill Title: An Act Concerning The Establishment Of Uniform Standards For The Acceptance Of A Power Of Attorney At State Financial Institutions.

Spectrum: Committee Bill

Status: (Introduced - Dead) 2015-03-19 - Public Hearing 03/23 [SB01112 Detail]

Download: Connecticut-2015-SB01112-Introduced.html

---

General Assembly		Raised Bill No. 1112
January Session, 2015		LCO No. 5267
		*05267_______JUD*
Referred to Committee on JUDICIARY
Introduced by:
(JUD)

AN ACT CONCERNING THE ESTABLISHMENT OF UNIFORM STANDARDS FOR THE ACCEPTANCE OF A POWER OF ATTORNEY AT STATE FINANCIAL INSTITUTIONS.

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

Section 1. (Effective from passage) The Banking Commissioner, in consultation with the Commissioner of Consumer Protection, three representatives from the Connecticut Bar Association designated by the executive director of the Connecticut Bar Association and three representatives from the Connecticut Bankers Association designated by the chairman of the Connecticut Bankers Association shall study consumer reliance on the use of a power of attorney to effectuate banking transactions in the state. Such study shall include, but not be limited to, (1) an examination of the effect, if any, that the state's adoption of the Uniform Power of Attorney Act would have on consumers who rely on the use of a power of attorney to effectuate banking transactions, and (2) the need for the state's financial institutions, as defined in section 1-56a, of the general statutes, to adopt uniform state-wide standards concerning the acceptance of a power of attorney. Not later than February 1, 2016, the Banking Commissioner shall report, in accordance with the provisions of section 11-4a of the general statutes, on the results of such study to the joint standing committees of the General Assembly having cognizance of matters relating to banking and the judiciary. Such report shall contain legislative recommendations concerning the adoption of uniform state-wide standards for the acceptance of a power of attorney.

This act shall take effect as follows and shall amend the following sections:
Section 1	from passage	New section

Statement of Purpose:

To require the Banking Commissioner to (1) study consumer use of a power of attorney at state financial institutions, and (2) offer legislative recommendations concerning the adoption of uniform state-wide standards for the acceptance of a power of attorney at state financial institutions.

[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.]