Connecticut § 36a-561 (Formerly Sec. 36-231). Prohibited practices.

Connecticut Statutes

§ 36a-561 — (Formerly Sec. 36-231). Prohibited practices.

Connecticut § 36a-561

Title 36aThe Banking Law of Connecticut

Ch. 668Nondepository Financial Institutions

This text of Connecticut § 36a-561 ((Formerly Sec. 36-231). Prohibited practices.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 36a-561 (2026).

Text

No person licensed or required to be licensed and no control person shall, directly or indirectly:

(1)Assist or aid and abet any person in conduct prohibited by sections 36a-555 to 36a-573 , inclusive;

(2)Employ any scheme, device or artifice to defraud or mislead any person in connection with a small loan;

(3)Make, in any manner, any false, misleading or deceptive statement or representation in connection with a small loan or engage in bait and switch advertising;

(4)Engage in any unfair or deceptive practice toward any person or misrepresent or omit any material information in connection with a small loan; or (5) Fail to establish, enforce and maintain policies and procedures for supervising employees, agents and office operations that are reasonably designed to achieve compliance wi

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No person licensed or required to be licensed and no control person shall, directly or indirectly: (1) Assist or aid and abet any person in conduct prohibited by sections 36a-555 to 36a-573 , inclusive; (2) Employ any scheme, device or artifice to defraud or mislead any person in connection with a small loan; (3) Make, in any manner, any false, misleading or deceptive statement or representation in connection with a small loan or engage in bait and switch advertising; (4) Engage in any unfair or deceptive practice toward any person or misrepresent or omit any material information in connection with a small loan; or (5) Fail to establish, enforce and maintain policies and procedures for supervising employees, agents and office operations that are reasonably designed to achieve compliance with applicable laws and regulations concerning small loan lenders.

Legislative History

(1949 Rev., S. 5948 (1); P.A. 94-122, S. 263, 340; P.A. 16-65, S. 25; P.A. 17-233, S. 15.) History: P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-231 transferred to Sec. 36a-561 in 1995; P.A. 16-65 replaced former provisions with introductory language and Subdivs. (1) to (4) re prohibited practices, effective July 1, 2016; P.A. 17-233 added reference to control persons, added Subdiv. (5) re failure to establish, enforce and maintain policies and procedures, and made a technical change.