Connecticut § 36a-436b Issuance of certificate of authority to engage in business of Connecticut credit union.

Connecticut Statutes

§ 36a-436b — Issuance of certificate of authority to engage in business of Connecticut credit union.

Connecticut·Title 36a The Banking Law of Connecticut·Ch. 667 Credit Unions

(a)No person shall, or have the power to, engage in the business of a Connecticut credit union in this state until such person has obtained a certificate of authority to engage in the business of a Connecticut credit union from the commissioner.

(b)No person shall use, either as a part of its name or as a prefix or suffix thereto or as a designation of the business carried on by it, the phrase “credit union” or “mutual benefit association”, except a Connecticut credit union, a federal credit union or a credit union otherwise authorized to engage in business in this state under this title. The provisions of this subsection shall not apply to an association of credit unions or a credit union service organization located in this state.

(c)A certificate of authority shall be issued by the c

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(a) No person shall, or have the power to, engage in the business of a Connecticut credit union in this state until such person has obtained a certificate of authority to engage in the business of a Connecticut credit union from the commissioner. (b) No person shall use, either as a part of its name or as a prefix or suffix thereto or as a designation of the business carried on by it, the phrase “credit union” or “mutual benefit association”, except a Connecticut credit union, a federal credit union or a credit union otherwise authorized to engage in business in this state under this title. The provisions of this subsection shall not apply to an association of credit unions or a credit union service organization located in this state. (c) A certificate of authority shall be issued by the commissioner to an applicant meeting the requirements of section 36a-437a . (d) A certificate of authority issued under this section may be revoked by the commissioner for cause in accordance with section 36a-51 .

Connecticut § 36a-436b (Issuance of certificate of authority to engage in business of Connecticut credit union.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(P.A. 02-73, S. 37; P.A. 03-84, S. 46.) History: P.A. 03-84 changed “Commissioner of Banking” to “commissioner” in Subsecs. (a), (c) and (d), effective June 3, 2003.