History: P.A. 79-361 made previous provisions Subsecs. (a) and (c), inserting new Subsec. (b) re disclosure of records
under certificate signed by administrative services commissioner and adding reference to such certificates in Subsec. (c);
P.A. 81-61 amended Subsec. (a) to provide that if a subpoena is issued by the commissioner of administrative services,
income maintenance or human resources service upon the customer is not required, and amended Subsec. (b) to require
disclosure pursuant to a certificate signed by the commissioner of income maintenance or human resources and to delete
the requirement that a copy of the certificate be mailed to the customer five days prior to disclosure; P.A. 86-161 amended
Subsec. (a) to make the party seeking the disclosure of a customer's financial records responsible for serving the subpoena
or similar legal document on the customer; P.A. 88-251 inserted new Subsec. (b) re a customer's standing to challenge a
subpoena of his financial records and relettered previously existing Subsecs; P.A. 89-264 amended Subsec. (a) by adding
exception re Sec. 36-9m; P.A. 93-262 changed reference to commissioners of income maintenance and human resources
to commissioner of social services, effective July 1, 1993; P.A. 94-122 made technical changes, effective January 1, 1995;
Sec. 36-9l transferred to Sec. 36a-43 in 1995; June 18 Sp. Sess. P.A. 97-7 amended Subsec. (c) by adding "or pursuant to
an agreement with the IV-D agency under subsection (c) of section 17b-137", effective July 1, 1997; P.A. 01-209 amended
Subsec. (a) to provide that if subpoena is issued pursuant to Sec. 17b-452 or 17b-454, service upon the customer is not
required, effective July 1, 2001; P.A. 05-139 amended Subsec. (b) to eliminate reference to the ten-day notice period
required by Subsec. (a) as time limit for filing application or motion to quash.
Sec. 36a-44. (Formerly Sec. 36-9m). Exceptions re confidential treatment of
customer records. No provision of sections 36a-41 to 36a-45, inclusive, shall be construed to prohibit: (1) The preparation, examination, handling or maintenance of any
financial records by any officer, employee or agent of a financial institution having
custody of such records or the examination of such records by a certified public accountant engaged by the financial institution to perform an independent audit; (2) the examination of any financial records by, or the furnishing of financial records by a financial
institution to any official, employee or agent of a supervisory agency solely for use in
the exercise of the duties of such official, employee or agent; (3) the publication of data
furnished from financial records relating to customers where such data does not contain
information identifying any particular customer or account; (4) the making of reports
or returns required under the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as from time to time amended; (5)
disclosure of information permitted under the Uniform Commercial Code concerning
the dishonor of any negotiable instrument; (6) the exchange, in the regular course of
business, of credit information between a financial institution and other financial institutions or commercial enterprises, directly or through a consumer reporting agency; (7)
disclosures to appropriate officials of federal, state or local governments upon suspected
violations of the criminal law; (8) disclosures pursuant to a search warrant issued by a
judge of the Superior Court or a judge trial referee under the provisions of section 54-33a; (9) disclosures concerning lawyers' clients' funds accounts made to the state-wide
grievance committee pursuant to any rule adopted by the judges of the Superior Court;
(10) disclosures to the purported payee or to any purported holder of a check, draft,
money order or other item, whether or not such check, draft, money order or other item
has been accepted by such payee or holder as payment, or to any financial institution
purportedly involved in the collection process of a check, draft, money order or other
item whether such check, draft, money order or other item would be paid if presented
at the time of such disclosure; (11) any disclosure made in connection with a financial
institution's attempts to preserve its rights or determine its liabilities with regard to any
funds transfer or any check, draft, money order or other item drawn by or upon it or
handled by it for collection or otherwise; (12) disclosures to an insurance company for
purposes of risk assessment in connection with obtaining or maintaining a surety bond
or fraud investigations; (13) any other disclosure required under applicable state or
federal law or authorized to be made to any regulatory or law enforcement agency under
applicable state or federal law; (14) disclosures made to a broker-dealer or investment
advisor that is engaged in a contractual networking arrangement with the financial institution making the disclosure, provided, it is clearly and conspicuously disclosed to the
customer that the information may be communicated among such entities and the customer is given a reasonable opportunity, before the time that the information is initially
communicated, to direct that such information not be communicated among such entities; (15) disclosures made to a customer service representative who is employed by,
or otherwise acts as an agent for, both the financial institution and a broker-dealer, or
both the financial institution and an investment advisor, where such broker-dealer or
investment advisor is engaged in a contractual networking arrangement; (16) disclosures
to other employees or agents of a broker-dealer or investment advisor engaged in a
contractual networking arrangement in order to comply, or verify compliance, with
applicable laws governing the activities of the financial institution, broker-dealer or
investment advisor; (17) any disclosure of information to an information network for
fraud prevention accessed by financial institutions and law enforcement authorities for
the exclusive purpose of detecting or protecting against actual or potential fraud or
unauthorized transactions; and (18) disclosures made to a victim of identity theft pursuant to the federal Fair Credit Reporting Act, 15 USC 1681g. For purposes of this section,
the phrase "contractual networking arrangement" means a contractual arrangement between a financial institution and a broker-dealer registered in this state or an investment
advisor registered in this state or that has filed a notice of exemption pursuant to subsection (e) of section 36b-6, where the broker-dealer or investment advisor offers securities
related services to the customers of the financial institution.
(P.A. 77-294, S. 4, 6; P.A. 79-107; 79-631, S. 97, 111; P.A. 80-381; P.A. 81-61, S. 3; P.A. 89-211, S. 38; 89-264, S.
2; P.A. 90-56, S. 1, 2; P.A. 92-12, S. 6; P.A. 94-122, S. 25, 340; P.A. 95-253, S. 8; P.A. 01-72, S. 3; June Sp. Sess. P.A.
01-9, S. 103, 131; P.A. 02-31, S. 1; 02-73, S. 8; P.A. 05-62, S. 1.)
History: P.A. 79-107 and P.A. 79-631 added Subdiv. (h) re disclosure of whether or not drafts have been accepted as
payments; P.A. 80-381 included reports or returns required under Sec. 12-382 in Subdiv. (d); P.A. 81-61 amended Subsec.
(g) by replacing "notification" with "disclosures" and "of" with "upon"; P.A. 89-211 clarified reference to the Internal
Revenue Code of 1986; P.A. 89-264 added new Subdiv. (h) re disclosures pursuant to search warrant and relettered
remaining Subdiv; P.A. 90-56 added provisions re disclosures concerning lawyers' clients' funds accounts and relettered
Subsec. (i) as Subsec. (j); P.A. 92-12 redesignated Subdivs.; P.A. 94-122 added Subdivs. (11) and (12) re disclosures
concerning institution's rights or liabilities over funds transfer, checks or funds drawn on or collected by it and disclosure
required or authorized by law, effective January 1, 1995; Sec. 36-9m transferred to Sec. 36a-44 in 1995; P.A. 95-253 added
Subdiv. (12) re certain transfers of information to a shared service center and its personnel and renumbered former Subdiv.
(12) as (13); P.A. 01-72 added reference to judge trial referee in Subdiv. (8); June Sp. Sess. P.A. 01-9 deleted provision
re Sec. 12-382 in Subsec. (4), effective July 1, 2001; P.A. 02-31 added Subdiv. (14) re disclosures made to broker-dealer
or investment advisor engaged in contractual networking arrangement with financial institution, added Subdiv. (15) re
disclosures made to customer service representative who is employee or agent for financial institution and broker-dealer
or investment advisor engaged in contractual networking arrangement, added Subdiv. (16) re disclosures to other employees
or agents of broker-dealer or investment advisor engaged in contractual networking arrangement, in order to comply with
applicable laws governing activities, and added definition of "contractual networking arrangement"; P.A. 02-73 deleted
former Subdiv. (12) re transfer of information from Connecticut credit union to shared service center and added new
Subdiv. (12) re disclosure to insurance company for purposes of risk assessment in connection with surety bond or fraud
investigation; P.A. 05-62 added Subdiv. (17) re disclosure of information to an information network for fraud prevention
and Subdiv. (18) re disclosures made to a victim of identity theft pursuant to federal Fair Credit Reporting Act.
PART IV
VIOLATIONS OF THE BANKING LAWS
Sec. 36a-53. (Formerly Sec. 36-25). Proceedings by commissioner upon violation of banking laws. Civil penalties. (a) As used in this section, (1) "related person"
means a director, officer, employee, independent contractor, manager or general partner,
and (2) "Connecticut holding company" means a holding company that holds a subsidiary that is a Connecticut bank.
(b) (1) Whenever the commissioner finds as the result of an investigation that any
related person of any Connecticut bank, Connecticut holding company, Connecticut
credit union or Connecticut credit union service organization (A) has violated or is
violating any provision of the general statutes within the jurisdiction of the commissioner, or any regulation, rule or order adopted or issued thereunder, or any condition
imposed in writing by the commissioner, (B) has breached or is breaching any written
agreement with the commissioner, (C) has engaged or participated in or is engaging or
participating in any unsafe or unsound practice in connection with any bank, Connecticut
holding company, Connecticut credit union, federal credit union or credit union service
organization, (D) has been or is charged in any information, indictment or complaint
with the commission of or participation in a crime which is punishable by imprisonment
for a term exceeding one year under state or federal law, and continued service or participation by such related person may pose a threat to the interests of depositors or members,
or threatens to impair public confidence in any bank, Connecticut holding company,
Connecticut credit union, federal credit union or Connecticut credit union service organization, (E) has used or is using such related person's position in a manner contrary to
the interest of any bank, Connecticut holding company, Connecticut credit union, federal
credit union or credit union service organization, or its depositors or members, or (F)
has been or is negligent in the performance of such related person's duties, after having
been warned in writing by the commissioner to discontinue any such continuing delinquency, the commissioner may send notice to such related person by registered or certified mail, return receipt requested, or by any express delivery carrier that provides a
dated delivery receipt. The notice shall be deemed received by the related person on the
earlier of the date of actual receipt or seven days after mailing or sending. Any such
notice shall include: (i) A statement of the time, place and nature of the hearing; (ii) a
statement of the legal authority and jurisdiction under which the hearing is to be held;
(iii) a reference to the particular sections of the general statutes, regulations, rules or
orders alleged to have been violated; (iv) a short and plain statement of the matters
asserted; and (v) a statement indicating that such related person may file a written request
for a hearing on the matters asserted within fourteen days of receipt of the notice. If a
hearing is requested within the time specified in the notice, the commissioner shall hold
a hearing upon the matters asserted in the notice unless such related person fails to
appear at the hearing. After the hearing, if the commissioner finds that any of the grounds
set forth in subparagraphs (A) to (F), inclusive, of this subdivision exist with respect to
such related person, the commissioner shall order the removal of such related person
from office and from any participation in the management of the Connecticut bank,
Connecticut holding company, Connecticut credit union or Connecticut credit union
service organization. If such related person fails to appear at the hearing, the commissioner shall order the removal of such related person from office and from any participation in the management of the Connecticut bank, Connecticut holding company, Connecticut credit union or Connecticut credit union service organization. If the
commissioner finds that the protection of the Connecticut bank, Connecticut holding
company or its subsidiary that is a Connecticut bank, Connecticut credit union or Connecticut credit union service organization, or the interest of its depositors, depositors of
its subsidiary that is a Connecticut bank or members requires immediate action, the
commissioner may suspend any such related person from office and from further participation in the management of the Connecticut bank, Connecticut holding company, Connecticut credit union or Connecticut credit union service organization, by incorporating a
finding to that effect in such notice. The suspension or prohibition shall become effective
upon receipt of such notice and, unless stayed by a court, shall remain in effect until the
entry of a permanent order or the dismissal of the matters asserted.
(2) Any related person who has been removed or suspended from office pursuant
to an order issued under this subsection may not continue to hold or commence holding
office as a related person of any bank, Connecticut credit union, federal credit union,
licensee or registrant under this title and title 36b or holding company that holds a
subsidiary that is a bank, while such order is in effect, without the written consent of
the commissioner.
(c) Whenever it appears to the commissioner that any Connecticut bank, Connecticut holding company, Connecticut credit union, Connecticut credit union service organization or any related person of any such entity (1) is violating, has violated or is about
to violate any provision of the general statutes within the jurisdiction of the commissioner, or any regulation, rule or order adopted or issued thereunder, or any condition
imposed in writing by the commissioner, (2) is breaching, has breached or is about to
breach any written agreement with the commissioner, (3) is engaging, has engaged or
is about to engage, in an unsafe or unsound practice, or (4) is using, has used or is about
to use such related person's position in a manner contrary to the interest of any bank,
Connecticut holding company, Connecticut credit union, federal credit union or credit
union service organization, the commissioner may send notice and take action against
the Connecticut bank, Connecticut holding company, Connecticut credit union, Connecticut credit union service organization or related person in accordance with section
36a-52. If the commissioner finds that the actual or threatened violation, breach, unsafe
or unsound practice or practices or use specified in such notice is likely to cause insolvency or substantial dissipation of assets or earnings of the Connecticut bank, Connecticut holding company, Connecticut credit union or Connecticut credit union service organization, or is likely to otherwise seriously prejudice the interests of its depositors or
members, the commissioner may incorporate a finding to that effect in such notice and
issue a temporary order requiring the Connecticut bank, Connecticut holding company,
Connecticut credit union, Connecticut credit union service organization or related person to cease and desist from any such violation, breach, practice or use. The temporary
order shall become effective upon receipt and, unless set aside or modified by a court,
shall remain in effect until the effective date of a permanent order or the dismissal of
the matters asserted.
(d) (1) Whenever the commissioner finds as the result of an investigation that any
Connecticut bank, Connecticut holding company, Connecticut credit union, Connecticut credit union service organization or any related person of any such entity has (A)
violated any provision of the general statutes within the jurisdiction of the commissioner,
or any regulation, rule or order adopted or issued thereunder, or any condition imposed
in writing by the commissioner, (B) breached any written agreement with the commissioner, (C) engaged or participated in any unsafe or unsound practice, or (D) used such
related person's position in a manner contrary to the interest of any bank, Connecticut
holding company, Connecticut credit union, federal credit union or credit union service
organization, or its depositors or members, the commissioner may send notice to and
take action against such Connecticut bank, Connecticut holding company, Connecticut
credit union, Connecticut credit union service organization or related person regarding
the violation, breach, unsafe or unsound practice, or misuse of position in accordance
with section 36a-50. Any finding made by the commissioner pursuant to this subdivision
shall be considered a violation of this subsection for purposes of section 36a-50.
(2) Notwithstanding the provisions of section 36a-50, unless the violation, breach,
unsafe or unsound practice, or misuse of position found to have occurred pursuant to
this subsection and section 36a-50 is such that it (A) is part of a pattern of misconduct,
(B) has caused or is likely to cause a loss other than a de minimis loss to any bank,
Connecticut holding company, Connecticut credit union, federal credit union or credit
union service organization, (C) will result or has resulted in a pecuniary gain to a related
person of any Connecticut bank, Connecticut holding company, Connecticut credit
union or Connecticut credit union service organization, or (D) is a violation of sections
36a-53a to 36a-56, inclusive, or sections 36a-746b to 36a-746g, inclusive, the civil
penalty the commissioner may impose under this subsection and section 36a-50 shall
not exceed ten thousand dollars.
(3) In determining the amount of any penalty imposed under this subsection and
section 36a-50, the commissioner shall take into account (A) the size of the financial
resources and good faith of the Connecticut bank, Connecticut holding company, Connecticut credit union, Connecticut credit union service organization, or related person,
(B) the gravity of the violation, breach, unsafe or unsound practice or misuse of position,
(C) the history of previous violations, breaches, unsafe or unsound practices, or misuse
of position, and (D) such other matters as justice may require, except that this subdivision
does not apply to any violation of section 36a-53a and sections 36a-746b to 36a-746g,
inclusive.
(e) In connection with any investigation or proceeding under this section and section
36a-50, the commissioner shall make reasonable efforts to obtain from a federal banking
or credit union agency any relevant information that the commissioner knows to be in
the possession of such agency.
(f) The resignation, termination of employment or separation, including a separation
caused by the closing of the institution, of any related person against whom the commissioner may issue an order under this section, shall not affect the authority of the commissioner to issue any notice and proceed under this section against such related person if
such notice is sent before the end of the six-year period beginning on the date of such
resignation, termination of employment or separation.
(1949 Rev., S. 5748; 1967, P.A. 593, S. 1; 1971, P.A. 870, S. 92; P.A. 74-254, S. 1, 2, 11; P.A. 77-141; 77-614, S. 153,
161, 587, 610; P.A. 78-303, S. 85, 136; P.A. 80-482, S. 243, 348; P.A. 87-9, S. 2, 3; P.A. 88-230, S. 1, 12; P.A. 90-98, S.
1, 2; P.A. 92-12, S. 13; P.A. 93-142, S. 4, 7, 8; 93-194, S. 1, 7; P.A. 94-122, S. 29, 340; P.A. 99-158, S. 2; P.A. 01-34, S.
11; 01-48, S.11; P.A. 02-73, S. 4; P.A. 03-259, S. 3; P.A. 05-39, S. 1.)
History: 1967 act clarified provisions of Subsec. (a) and added provisions detailing contents of notice, requiring that
hearing be held and allowing commissioner to suspend officers of governing board, etc., inserted new Subsec. (2) re notice
of charges and cease and desist orders, renumbered former Subsec. (2) as Subsec. (3) and included references to cease and
desist orders and added Subsec. (4) re applications to court for stay of suspension or prohibition, injunction, etc.; 1971 act
substituted court of common pleas for superior court in Subsec. (4), effective September 1, 1971, except that courts with
cases pending retain jurisdiction unless pending matters deemed transferable; P.A. 74-254 required that notice be in form
required under Sec. 4-177(b) rather than that it "contain a statement of the facts constituting the grounds for such removal"
and deleted reference to court proceedings under Subsec. (4) in Subsec. (1) and similarly changed wording of corresponding
provisions in Subsec. (2) and repealed Subsec. (4); P.A. 77-141 replaced advisory council on banking with banking commission throughout section but changes not enacted; P.A. 77-614 and P.A. 78-303 replaced bank commissioner with banking
commissioner, made banking department a division within the department of business regulation and replaced references
to advisory council on banking with references to commissioner and added Subsec. (4), effective January 1, 1979; P.A.
80-482 restored banking division as independent department with commissioner as its head and abolished the department
of business regulation; (Revisor's note: Pursuant to P.A. 87-9 "banking commissioner" was changed editorially by the
Revisors to "commissioner of banking"); P.A. 92-12 redesignated Subsecs. and made technical changes; P.A. 93-194
substantially rewrote Subsecs. (a) to (c), inclusive, added new Subsecs. (d) to (f), inclusive, and (h) and relettered the
remaining Subsecs. accordingly to specify under what conditions the commissioner may exercise his authority and institute
proceedings against any officer or member of a governing board of any institution which violates a banking order, rule or
regulation and added penalties, specific notice and hearing requirements, effective June 23, 1993, (Revisor's note: P.A.
88-230, P.A. 90-98 and P.A. 93-142 authorized substitution of "judicial district of Hartford" for "judicial district of Hartford-New Britain" in public acts of the 1993 session of the general assembly, to take effect September 1, 1996); P.A. 94-122
established hearing procedures for violations by bank officers and directors, deleted Subsecs. (c), (e), (g) and (h) and
relettered former Subsecs. (d) and (f) as Subsecs. (c) and (d), deleted Subdivs. (2) and (3) of former Subsec. (d), renumbered
former Subdivs. (4) and (5) as Subdivs. (2) and (3), and made technical changes, effective January 1, 1995; Sec. 36-25
transferred to Sec. 36a-53 in 1995; P.A. 99-158 amended Subsec. (c) by adding references to a violation of Sec. 36a-53a
and making technical changes in Subdivs. (2) and (3); P.A. 01-34 amended Subsec. (c) by adding references to Secs. 36a-746b to 36a-746g in Subdivs. (2) and (3); P.A. 01-48 amended Subsec. (a) by adding provisions re express delivery; P.A.
02-73 amended Subsecs. (a), (b) and (c) by adding provisions re Connecticut credit union service organizations, officers
or directors of Connecticut credit unions and officers, directors, managers or general partners of Connecticut credit union
service organizations; P.A. 03-259 defined "related person" and "Connecticut holding company" in new Subsec. (a),
redesignated existing Subsecs. (a) to (d), inclusive, as Subsecs. (b)(1) and (c) to (e), inclusive, substituted "related person"
for references to officers, directors, managers and general partners and inserted references to "Connecticut holding company" throughout, added Subsec. (b)(2) re related persons who have been removed or suspended from office, amended
Subsec. (d) by replacing references to "official position" with references to "position" and, in Subdiv. (2), replacing
reference to Sec. 36a-53a with reference to Secs. 36a-53a to 36a-56, inclusive, and increasing civil penalty from one
thousand to ten thousand dollars, added Subsec. (f) re resignation, termination of employment or separation of related
person against whom commissioner may issue order under this section, and made technical and conforming changes;
P.A. 05-39 amended Subsec. (c) to authorize commissioner to take action against related person of a Connecticut bank,
Connecticut holding company, Connecticut credit union or Connecticut credit union service organization, to add Subdiv.
(4) re action if related person is using, has used or is about to use position in a manner contrary to the interest of entity and
to make conforming changes, effective May 17, 2005.
Sec. 36a-53b. Prohibited activities of licensees or registrants. No licensee or
registrant shall, in connection with the activity for which such person is licensed or
registered: (1) Employ any device, scheme or artifice to defraud; (2) make any untrue
statement of a material fact or omit to state a material fact necessary in order to make
the statements made, in the light of the circumstances under which they are made, not
misleading; or (3) engage in any act, practice, or course of business which operates or
would operate as a fraud or deceit upon any person.
(P.A. 00-61, S. 7, 9; P.A. 05-46, S. 1.)
History: P.A. 00-61 effective July 1, 2000; P.A. 05-46 included registrants in the prohibition against engaging in
fraudulent conduct in connection with the activities for which they are registered.
Sec. 36a-56a. Use of name or trademark of bank or credit union prohibited
in commercial advertisements that may mislead consumers. Enforcement action.
(a) No person shall use the name or trademark of a bank or any of its affiliates or any
Connecticut credit union or federal credit union, as those terms are defined in section
36a-2, in any commercial advertisement or solicitation for goods, products or services,
where such usage, in the context of such advertisement or solicitation, has the capacity
or tendency to mislead any consumer as to the existence or nature of any affiliation,
connection, association or endorsement relationship between (1) the bank or its affiliates
or such credit union, and (2) such person or the products, goods or services of such
person. For the purposes of this subsection, the term "commercial advertisement or
solicitation" includes the content of an Internet web site and direct mail solicitations.
(b) The Banking Commissioner shall enforce the provisions of subsection (a) of
this section. Whenever it appears to the commissioner that any person has violated, is
violating or is about to violate any of the provisions of said subsection (a), the commissioner may take action against such person in accordance with sections 36a-50 and 36a-52, which shall include the right to seek injunctive relief, impose civil penalties and
issue cease and desist orders, except that no civil penalty in excess of ten thousand
dollars per violation may be imposed.
(c) Any bank or affiliate of a bank or any Connecticut credit union or federal credit
union that has had its name or trademark used in violation of the provisions of subsection
(a) of this section may, in addition to any other remedy authorized by law, bring an
action in the superior court in the judicial district in which the bank or affiliate or credit
union has a branch or office to enjoin any act in violation of the provisions of said
subsection (a) and recover damages. The court shall award damages in the amount of
the actual damages or ten thousand dollars per violation, whichever is greater. In any
successful action for injunctive relief or for damages, the court shall award to the bank
or affiliate or credit union, as the case may be, attorneys' fees and costs, including
court costs.
(P.A. 05-23, S. 1.)
PART V
FEES AND CHARGES
Sec. 36a-65. (Formerly Sec. 36-12a). Assessment of expenses of Department
of Banking. State Banking Fund. Fees. (a) The commissioner shall annually, on or
after July first for the fiscal year commencing on said July first, collect pro rata based
on asset size from each Connecticut bank and each Connecticut credit union an amount
sufficient in the commissioner's judgment to meet the expenses of the Department of
Banking, including a reasonable reserve for contingencies, provided the commissioner
shall not collect such amount from a newly organized Connecticut credit union until
July first following the third full calendar year after issuance by the commissioner of
such credit union's certificate of authority. Such assessments and expenses shall not
exceed the budget estimates submitted in accordance with section 36a-13. Such assessments may be made more frequently than annually at the discretion of the commissioner.
Such assessments for any fiscal year shall be reduced pro rata by the amount of any
surplus from the assessments of prior fiscal years, which surplus shall be maintained in
accordance with subdivision (4) of subsection (b) of this section. The commissioner
may reduce any such assessment collected from a Connecticut bank up to the amount
of any assessment for the same fiscal year collected from such bank by another state
in which such bank has established a branch, limited branch or mobile branch. The
commissioner may reduce any such assessment collected from a Connecticut credit
union up to the amount of any assessment for the same fiscal year collected from such
credit union by another state in which such credit union has established a branch. Such
assessments for any fiscal year shall be a liability of such banks and credit unions as of
the assessment date. Except as provided in this subsection, such assessments shall not
be prorated for any reason.
(b) (1) Each such bank and credit union shall pay the commissioner the amount
allocated to it within twenty business days from the time the commissioner mails a
notice to it of the amount due, with an additional two hundred dollars if the amount
allocated is not paid in the time specified. The provisions of this subdivision shall not
apply to any person required to pay the commissioner any fee for license or registration
or the whole cost of all examinations made by the commissioner.
(2) The State Treasurer shall place all funds received from the commissioner and
all moneys received from any person for documents or reports sold by the commissioner
in a special fund to be known as the State Banking Fund. Amounts in the fund may be
expended only pursuant to appropriation by the General Assembly.
(3) The Comptroller shall determine for each fiscal year the expenses of the Department of Banking.
(4) The Secretary of the Office of Policy and Management shall examine the State
Banking Fund annually after the Comptroller has made his determination and shall direct
the Treasurer to set aside within the Banking Fund amounts in excess of a reasonable
reserve for contingencies, which excess amounts shall be considered a surplus for the
purposes of subsection (a) of this section.
(c) (1) The fee for an examination of a trust department of a Connecticut bank shall
be the actual cost of the examination, as such cost is determined by the commissioner.
(2) The fee for an examination of a trust bank shall be the actual cost of the examination, as such cost is determined by the commissioner.
(3) The fee for an examination of a Connecticut credit union service organization
is the actual cost of the examination, as such cost is determined by the commissioner.
(4) The fee for an examination of an out-of-state branch of a Connecticut bank or
a branch in this state of an out-of-state bank shall be the actual cost of the examination,
as such cost is determined by the commissioner, and the commissioner may share any
such fee with other banking regulators in accordance with agreements entered into by
the commissioner pursuant to subsection (j) of section 36a-145 and subdivision (5) of
subsection (a) and subsection (b) of section 36a-412.
(5) The fee for an examination of an out-of-state branch of a Connecticut credit
union or a branch in this state of an out-of-state credit union shall be the actual cost of
the examination, as such cost is determined by the commissioner, and the commissioner
may share any such fee with other state or federal credit union regulators in accordance
with agreements entered into by the commissioner pursuant to subsection (f) of section
36a-462a and subsection (b) of section 36a-462b.
(6) A licensee under section 36a-489, 36a-513, 36a-541, 36a-556, 36a-581, 36a-600, 36a-628, 36a-656 or 36a-801 shall pay to the commissioner the actual cost of any
examination of the licensee, as such cost is determined by the commissioner. If the
licensee fails to pay such cost not later than thirty days after receipt of demand from the
commissioner, the commissioner shall automatically suspend the license until such costs
are paid.
(d) (1) The fee for investigating and processing each application is as follows:
(A) Establishment of (i) a branch under subdivision (1) of subsection (b) of section
36a-145, two thousand dollars; (ii) a mobile branch under subdivision (1) of subsection
(d) of section 36a-145, one thousand five hundred dollars; (iii) a limited branch under
subdivision (1) of subsection (c) of section 36a-145, one thousand five hundred dollars;
(iv) a special need limited branch under subdivision (4) of subsection (c) of section 36a-145, five hundred dollars; (v) an out-of-state branch under subsection (j) of section 36a-145, a reasonable fee not to exceed two thousand dollars from which any fees paid to
a state other than this state or to a foreign country in connection with the establishment
shall be deducted; and (vi) an out-of-state limited or mobile branch under subsection
(i) of section 36a-145, a reasonable fee not to exceed one thousand five hundred dollars
from which any fees paid to a state other than this state or to a foreign country in connection with the establishment shall be deducted.
(B) Sale of (i) a branch under subsection (i) of section 36a-145, two thousand dollars,
except there shall be no fee for the sale of a branch of a Connecticut bank to another
Connecticut bank or to a Connecticut credit union; and (ii) a limited branch, including
a special need limited branch or mobile branch under subsection (i) of section 36a-145,
a fee not to exceed one thousand five hundred dollars.
(C) Relocation of (i) a main office of a Connecticut bank under subsection (a) of
section 36a-81, two thousand dollars; and (ii) a branch or a limited branch under subsection (g) of section 36a-145, five hundred dollars.
(D) Conversions from (i) a branch to a limited branch under subdivision (3) of
subsection (c) of section 36a-145; and (ii) a limited branch to a branch under subdivision
(3) of subsection (b) of section 36a-145, five hundred dollars.
(E) Merger or consolidation involving a Connecticut bank under section 36a-125
or subsection (a) of section 36a-126, two thousand five hundred dollars if two institutions
are involved and five thousand dollars if three or more institutions are involved.
(F) Acquisition of assets or business under section 36a-210, two thousand five hundred dollars.
(G) Organization of a holding company under section 36a-181, two thousand five
hundred dollars.
(H) Organization of any Connecticut bank under section 36a-70, fifteen thousand
dollars, except no fee shall be required for the organization of an interim Connecticut
bank.
(I) Reorganization of a mutual savings bank or mutual savings and loan association
into a mutual holding company under section 36a-192, five thousand dollars.
(J) Conversions under (i) sections 36a-135 to 36a-138, inclusive, five thousand
dollars; (ii) sections 36a-139, 36a-139a and 36a-469c, two thousand five hundred dollars; and (iii) section 36a-139b, fifteen thousand dollars.
(K) Acquiring, altering or improving real estate for present or future use in the
business of the bank or purchasing real estate adjoining any parcel of real estate owned
by the bank under subdivision (33) of subsection (a) of section 36a-250, five hundred
dollars, except that no fee shall be charged for such application if it is filed in connection
with an application under subdivision (1) of subsection (b) or (c) of section 36a-145.
(L) Investigation and processing an interstate banking transaction application filed
under section 36a-411 or 36a-412, two thousand five hundred dollars, unless the transaction otherwise requires an investigation and processing fee under this section.
(2) The fee for investigating and processing each acquisition statement filed under
section 36a-184 is two thousand five hundred dollars, except if the acquisition statement
is filed in connection with a transaction that requires one or more applications, a reasonable fee not to exceed two thousand five hundred dollars.
(3) Any fee for processing a notice of closing of a branch, limited branch or special
need limited branch under subdivision (1) of subsection (f) of section 36a-145, if
charged, shall not exceed two thousand dollars. There shall be no fee for processing a
notice of closing of any mobile branch.
(4) The fee for a miscellaneous investigation shall be the actual cost of the investigation, as such cost is determined by the commissioner.
(1967, P.A. 591, S. 1; 1969, P.A. 598, S. 4; 1972, P.A. 84, S. 1; P.A. 74-95, S. 1, 2; 74-130, S. 1, 2; P.A. 75-67; 75-447, S. 1, 2; P.A. 76-231, S. 1, 6; P.A. 77-614, S. 19, 161, 587, 610; P.A. 78-72, S. 1-4; 78-121, S. 16, 113; 78-303, S.
38-40, 85, 136; P.A. 80-482, S. 236, 345, 348; P.A. 85-94, S. 1, 2, 6; P.A. 87-9, S. 2, 3; P.A. 88-65, S. 11; 88-150, S. 1;
June Sp. Sess. P.A. 91-14, S. 19, 30; P.A. 92-12, S. 10; 92-89, S. 1, 20; P.A. 93-58, S. 1; 93-59, S. 1, 8; P.A. 94-122, S.
34, 340; P.A. 95-129, S. 2; P.A. 97-157, S. 1, 3; 97-208, S. 1, 2; 97-209, S. 2, 6; P.A. 01-183, S. 1, 11; P.A. 02-13, S. 2,
3; 02-47, S. 3; 02-73, S. 6, 7, 75; P.A. 03-196, S. 3; P.A. 04-136, S. 3, 4; P.A. 05-39, S. 2.)
History: 1969 act applied filing fee in Subsec. (4)(b) to acquisitions and substituted "bank(s)" for "institution(s)";
1972 act required filing fee of five hundred dollars in Subsec. (4)(a) and specified that assessment rate applies to special
investigations re processing of new bank applications; P.A. 74-95 added Subdiv. (d) in Subsec. (4) re filing fee for conversion
of banking associations from one type to another; P.A. 74-130 replaced assessment rate of one hundred dollars per day
and filing fee of five hundred dollars for new branch bank applications with combined assessment rate and filing fee of
one thousand dollars and made one-hundred-dollar per day assessment rate applicable for miscellaneous investigations in
Subsec. (4)(a); P.A. 75-67 replaced references to assessment rates and filing fees with general references to fees and
reworded provisions re fee amounts to replace passive verbs; P.A. 75-447 transferred comptroller's duty to determine
expenses of bank commissioner's office to commissioner and rephrased provisions in Subsec. (1), raised examiner's fee
from one hundred to one hundred twenty dollars, assisting examiners fee from fifty to sixty dollars and minimum rate from
twenty-five to thirty dollars in Subsec. (2), added Subdivs. (b) to (d) in Subsec. (3) re state banking fund and added Subsec.
(6) re commissioner's powers to apportion expenses of his office and deposit of moneys in general fund; P.A. 76-231
required that assessments and expenses not exceed budget estimates under Subsec. (1), specified that fees received for
chartering, licensing, etc. be deposited in banking fund under Subsec. (3)(b) and required that expenses of banking department be paid out of banking fund on and after July 1, 1976, in Subsec. (5); P.A. 77-614 replaced commissioner of finance
and control with secretary of the office of policy and management and, effective January 1, 1979, replaced bank commissioner with banking commissioner within the department of business regulation and made banking department a division
within that department; P.A. 78-72 added provision in Subsec. (1) re pro rata reductions of assessments, deleted reference
to expenses of advisory council on banking in Subsec. (3)(c) and rephrased Subsec. (3)(d) so that amounts exceeding
contingency reserve are no longer transferred to general fund; P.A. 78-121 deleted reference to private bankers in Subsec.
(1), to building associations in Subsecs. (1) and (4) and to advisory council on banking in Subsecs. (1) and (3); P.A. 78-303 deleted references to expenses of banking commission in Subsecs. (1), (3) and (5) and to expenses of advisory council
on banking in same Subsecs., in part repeating amendments enacted in P.A. 78-72 and P.A. 78-121; P.A. 80-482 restored
banking division as independent department with banking commissioner as its head and abolished the department of
business regulation; P.A. 85-94 amended Subsec. (1) to include credit unions and Subdiv. (b) of Subsec. (4) to except
credit unions; (Revisor's note: Pursuant to P.A. 87-9 "banking" commissioner and department were changed editorially
by the Revisors to commissioner and department "of banking"); P.A. 88-65 deleted Subdiv. (1)(c) which authorized the
commissioner to assess industrial banks for the expenses of the department, relettering as necessary, and deleted a reference
to industrial bank in Subsec. (4)(c); P.A. 88-150 amended Subsec. (2) by increasing the fees for trust department examinations to one hundred fifty dollars per day for the examiner in charge, one hundred dollars a day for an assistant examiner,
and increasing the minimum rate for such examinations to one hundred fifty dollars, amended Subsec. (4)(a) to increase
the fee for investigation of applications for new branches to two thousand dollars, fee for investigation of applications to
establish satellite devices to one hundred fifty dollars and the fee for other miscellaneous investigations to one hundred
fifty dollars per day, amended Subsec. (4)(b) by deleting the reference to Sec. 36-92(2) and extending the application of
the subsection to Secs. 36-140a, 36-193p, 36-193u and 36-193v, increasing the fee for investigation of applications for
certain mergers, consolidations or acquisitions to two thousand five hundred dollars, and increasing the fee for such mergers,
consolidations or acquisitions involving three or more banks to five thousand dollars, amended Subsec. (c) by deleting the
reference to industrial bank, increasing the fee for investigating an application to organize new banks to ten thousand
dollars and establishing a fee of five thousand dollars for reorganizing a mutual savings institution and amended Subsec.
(d) increasing fees for conversions of certain institutions to five thousand dollars; June Sp. Sess. P.A. 91-14 amended
Subdiv. (b) of Subsec. (3) to provide that on and after September 19, 1991, amounts in state banking fund may be expended
only pursuant to appropriation by general assembly and deleted Subsec. (5) which provided that on and after July 1,
1976, expenses connected with activities of banking department shall be paid out of state banking fund upon request of
commissioner; P.A. 92-12 redesignated Subsecs. and Subdivs.; P.A. 92-89 added provisions re the collection of assessments
pro rata based on asset size, added requirements that assessments shall be a liability of the institution as of the assessment
date and shall not be prorated, added fees for investigating and processing acquisition statements under Sec. 36-423 and
applications for armored car services (Revisor's note: The reference to Sec. 36-9gg in Subdiv. (6) of Subsec. (d) was
added editorially by the Revisors to assist users); P.A. 93-58 deleted Subdiv. (6) re fees for investigating and processing
applications for armored car services; P.A. 93-59 amended Subdiv. (1) of Subsec. (d) to add "the sale of branches" of
savings and loan associations to the fee schedule for investigations and amended Subdiv. (2) of Subsec. (d) by adding a
reference to Sec. 36-30 re purchase of assets and assumption of liabilities, effective May 10, 1993; P.A. 94-122 rewrote
Subsec. (d) to require that fees be paid to the commissioner instead of the state treasurer, added new fees for closing,
converting and relocating branches and organizing interim banks and reduced miscellaneous investigations fee, effective
January 1, 1995; Sec. 36-12a transferred to Sec. 36a-65 in 1995; P.A. 95-129 amended Subsec. (d)(1)(E) to increase the
fee for organization of a Connecticut bank from ten to fifteen thousand dollars; P.A. 97-157 amended Subdiv. (1) of Subsec.
(d) to eliminate the fee for establishment and use of a satellite device, effective June 24, 1997; P.A. 97-208 amended
Subsec. (d) to provide for a one-thousand-five-hundred-dollar fee for an application to establish a mobile branch or limited
branch or to relocate a limited branch, a five-hundred-dollar fee for an application to establish a special need limited branch,
a fee not to exceed two thousand dollars for processing a notice of closing of a special need limited branch, and a fee not
to exceed one thousand five hundred dollars for processing an application for the sale of a limited branch, special need
limited branch or mobile branch, to provide that no fee is required for the organization of an interim bank, to increase the
fee for miscellaneous investigations from one hundred dollars to one hundred fifty dollars per day, and to make technical
changes, effective July 1, 1997; P.A. 97-209 amended Subsec. (d) to provide for a two-thousand-five-hundred-dollar
application fee for conversions under Sec. 36a-469a, effective June 24, 1997; P.A. 01-183 amended Subsec. (d) to reorganize
subsection, deleting former Subparas. (A) to (G) and adding new Subparas. (A) to (K) in Subdiv. (1) and deleting former
Subdivs. (2) to (5) and adding new Subdivs. (2) to (4), to establish fees for establishment of out-of-state branches and out-of-state limited or mobile branches, conversion to an uninsured bank, expansion of community and uninsured banks'
powers, investigating and processing an acquisition statement and the buying, altering or improving of real estate, to change
fee for relocation of a branch or limited branch from one thousand five hundred dollars to five hundred dollars, to change
the conversion fees of branch to limited branch and of limited branch to branch from no more than two thousand dollars
to five hundred dollars, to change one-hundred-fifty-dollar fee for miscellaneous investigations to a fee of the actual cost
of the investigation and to eliminate one-thousand-five-hundred-dollar application fee for sale of a special need or mobile
branch and two-thousand-dollar fee for selling a branch of a Connecticut bank to another Connecticut bank or Connecticut
credit union, effective July 1, 2001; P.A. 02-13 amended Subsec. (a) by adding provision permitting commissioner to
reduce assessment of Connecticut bank up to amount collected for the same fiscal year by another state in which such bank
has a branch, limited branch or mobile branch and amended Subsec. (b) by replacing former language re fee for trust
department examinations with provision that the fee shall be the actual cost of examination as determined by the commissioner, effective July 1, 2002; P.A. 02-47 amended Subsec. (d)(1)(D) by replacing reference to "subdivision (1)" with
reference to "subdivision (4)" of Sec. 36a-145(b); P.A. 02-73 amended Subsec. (a) by adding proviso that commissioner
shall not collect assessment from newly organized Connecticut credit union until July first following the third year after
issuance of certificate of authority, and adding provision re authority of commissioner to reduce assessment of Connecticut
credit union up to amount collected for the same fiscal year by another state in which such credit union has a branch,
amended Subsec. (b) by designating existing provisions as Subdiv. (1) and adding Subdivs. (2) and (3) re fee for examination
of Connecticut credit union service organizations and various licensees, and amended Subsec. (d)(1)(J) by replacing reference to Sec. 36a-469a with reference to Sec. 36a-469c; P.A. 03-196 deleted former Subsec. (b) re determination of certain
fees and payments, redesignated existing Subsec. (c) as new Subsec. (b), added new Subsec. (c) re determination of
certain fees and payments, amended Subsec. (d)(1)(E) by substituting "involving" for "of", amended Subsec. (d)(1)(F) by
substituting "Acquisition of assets or business" for "Purchase of assets or assumption of liabilities, other than by a Connecticut credit union or federal credit union", amended Subsec. (d)(1)(K) by inserting "in the business" and made technical
changes, effective July 1, 2003; P.A. 04-136 amended Subsec. (c)(2) to substitute "trust bank" for "Connecticut bank
organized to function solely in a fiduciary capacity" and amended Subsec. (d)(1) to add Subpara. (L) establishing a fee of
two thousand five hundred dollars for investigation and processing an interstate banking transaction application filed under
Sec. 36a-411 or 36a-412, unless transaction otherwise requires investigation and processing fee under section, effective
May 12, 2004; P.A. 05-39 amended Subsec. (d)(1)(K) to provide that no fee shall be charged for an application to acquire,
alter or improve real estate if filed in connection with an application under Sec. 36a-145(b) or (c), effective May 17, 2005.