CHAPTER 666
OUT-OF-STATE BANKS

Table of Contents

Sec. 36a-410. (Formerly Sec. 36-552). Definitions.
Sec. 36a-428f. Prior notice by foreign bank of change in its place of business, its corporate name and the business it proposes to do in this state.

PART I
INTERSTATE BANKING

      Sec. 36a-410. (Formerly Sec. 36-552). Definitions. As used in sections 36a-410 to 36a-413, inclusive, unless the context otherwise requires:

      (1) "Branch" means a domestic branch as defined in 12 USC Section 1813, as from time to time amended, except that "branch" includes any branch bank, branch office, branch agency, additional office, or any branch place of business at which fiduciary or trust powers are exercised;

      (2) "Connecticut holding company" means any holding company whose home state is this state;

      (3) "De novo branch" means a branch of a bank or an out-of-state bank other than a foreign bank, which:

      (A) Is originally established by such bank or out-of-state bank; and

      (B) Does not become a branch of such bank or out-of-state bank as the result of (i) the acquisition by the bank or out-of-state bank of an insured depository institution or a branch of an insured depository institution; or (ii) the conversion, merger or consolidation of any such institution or branch;

      (4) "Home state" means: (A) With respect to a federally-chartered bank, the state in which the main office of the bank is located; (B) with respect to a foreign bank, the state which is the home state of the foreign bank under the International Bank Act of 1978, 12 USC Section 3101 et seq., as from time to time amended, if any, or the foreign country by which such bank is chartered; (C) with respect to a state-chartered bank, the state by which such bank is chartered; (D) with respect to a bank holding company, the state in which the total deposits of all banking subsidiaries of such company are the largest on the later of July 1, 1966, or the date on which the company became a bank holding company under the federal Bank Holding Company Act of 1956, 12 USC Section 1841 et seq., as from time to time amended, and in the case of any such company that holds a banking subsidiary that functions solely in a trust or fiduciary capacity, the state in which the total of such trust or fiduciary assets of such subsidiaries were the largest on the date such company became a bank holding company; and (E) with respect to a savings and loan holding company, the state in which the total deposits of all savings and loan association subsidiaries of such company were the largest on the date on which the company became a savings and loan holding company and, in the case of any such company that holds a savings and loan association subsidiary that functions solely in a trust or fiduciary capacity, the state in which the total of such trust or fiduciary assets of such subsidiaries were the largest on the date on which such company became a savings and loan holding company;

      (5) "Out-of-state holding company" means any holding company whose home state is a state other than this state or whose home state is a foreign country.

      (P.A. 83-411, S. 1, 20; P.A. 84-329, S. 1, 6; P.A. 87-9, S. 2, 3; 87-205, S. 3, 6; 87-589, S. 80, 87; P.A. 88-174, S. 1; P.A. 90-2, S. 1, 20; P.A. 91-357, S. 59, 78; P.A. 92-12, S. 100; P.A. 94-122, S. 185, 340; P.A. 95-155, S. 25, 29; P.A. 97-160, S. 3, 7; P.A. 05-39, S. 8.)

      History: P.A. 84-329 amended Subsecs. (a), (b), (h) and (n) to give the defined terms the meanings in effect under 12 U.S.C. 1841(a) on June 8, 1983; (Revisor's note: Pursuant to P.A. 87-9 "banking commissioner" was changed editorially by the Revisors to "commissioner of banking"); P.A. 87-205 made technical changes in introductory language; P.A. 87-589 extended application of definitions to Sec. 42-133c; P.A. 88-174 amended the definitions of "Connecticut bank", "Connecticut savings bank", "Connecticut savings and loan association", "New England bank", "New England savings bank" and "New England savings and loan association" to include references to savings and loan holding companies; added a new Subsec. (h) defining "Connecticut savings loan holding company"; added a new Subsec. (n) defining "New England savings and loan holding company"; and added a new Subsec. (o) defining "savings and loan holding company", relettering prior definitions as necessary; P.A. 90-2 added definitions of "Foreign bank", "Foreign country", "Out-of-state bank", "Out-of-state bank holding company", "Out-of-state savings bank", "Out-of-state savings and loan association" and "Out-of-state savings and loan holding company", deleted definitions of "New England bank", "New England bank holding company", "New England savings bank", "New England savings and loan association" and "New England savings and loan holding company", amended definitions of "Connecticut bank", "Connecticut bank holding company", "Connecticut savings bank", "Connecticut savings and loan association" and "Connecticut savings and loan holding company" to eliminate provisions re ownership or control by Connecticut or other New England financial institutions, and made technical changes to the definitions of "Bank", "Bank holding company", "Control", "Savings and loan holding company" and "Subsidiary"; P.A. 91-357 deleted reference to Sec. 42-133c as section to which definitions apply; P.A. 92-12 redesignated Subsecs. and made technical changes; P.A. 94-122 deleted definitions included in Sec. 36a-2 and added "Connecticut holding company" and "out-of-state holding company", effective January 1, 1995; Sec. 36-552 transferred to Sec. 36a-410 in 1995; P.A. 95-155 added definitions of "branch", "de novo branch", and "home state", changed reference from principal place of business to home state in definition of "Connecticut holding company", and added reference re home state and deleted exceptions from any holding company in definition of "out-of-state holding company", effective June 27, 1995; P.A. 97-160 redefined "branch" in Subdiv. (1) to include any branch bank, branch office, branch agency, additional office, or any branch place of business at which fiduciary or trust powers are exercised, effective June 24, 1997; P.A. 05-39 amended Subdiv. (4)(E) to provide that with respect to savings and loan holding company that holds savings and loan association subsidiaries that function solely in trust or fiduciary capacity, its home state shall be the state in which the total of trust or fiduciary assets of such subsidiaries were the largest on date such company became a savings and loan holding company, effective May 17, 2005.

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PART II
FOREIGN BANKS

(B)

STATE BRANCHES, STATE AGENCIES AND

REPRESENTATIVE OFFICES OF FOREIGN BANKS

      Sec. 36a-428f. Prior notice by foreign bank of change in its place of business, its corporate name and the business it proposes to do in this state. Any foreign bank licensed to establish and maintain a state branch or state agency in this state shall file prior notice with the commissioner of any change to (1) its place of business from the place designated in its license to another place in this state; (2) its corporate name if such change has been effected under the laws of the jurisdiction of its incorporation; and (3) the business which it proposes to do in this state.

      (Oct. Sp. Sess. P.A. 94-1, S. 7, 21; P.A. 05-39, S. 9.)

      History: Oct. Sp. Sess. P.A. 94-1, S. 7, effective January 1, 1995; P.A. 05-39 substituted requirement that foreign banks file prior notice with the commissioner of any change to its place of business, its corporate name and the business it proposes to do in this state, in lieu of applying to commissioner for approval for any such change, eliminated four-hundred-dollar investigation and made technical changes, effective May 17, 2005.

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