§ 36a-655 — (Formerly Sec. 36-364). Definitions.

Connecticut § 36a-655

• Jurisdiction: Connecticut
• Title 36a: The Banking Law of Connecticut
• Ch. 669: Regulated Activities

Text

As used in sections 36a-655 to 36a-665, inclusive: (1) “Advertise” or “advertising” has the same meaning as provided in section 36a-485 . (2) “Bona fide nonprofit organization” means any organization that is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time. (3) “Branch office” means a location other than the main office at which a licensee or any other person on behalf of a licensee engages in the business of debt adjustment. (4) “Control person” has the same meaning as provided in section 36a-485 . (5) “Debt adjustment” means, for or with the expectation of a fee, commission or other valuable consideration, receiving, as agent of a debtor, money or evidences thereof for the purpose of distributing such money or evidences thereof among creditors in full or partial payment of obligations of the debtor. (6) “Debtor” means any individual who has incurred indebtedness or owes a debt for personal, family or household purposes. (7) “Main office” has the same meaning as provided in section 36a-485 . (8) “Unique identifier” has the same meaning as provided in section 36a-485 .

Legislative History

(1967, P.A. 882, S. 1; P.A. 77-614, S. 161, 610; P.A. 79-160, S. 1; P.A. 80-482, S. 258, 345, 348; P.A. 87-9, S. 2, 3; P.A. 94-122, S. 295, 340; P.A. 95-79, S. 135, 189; P.A. 02-111, S. 40; P.A. 09-208, S. 23; P.A. 17-233, S. 22; P.A. 18-173, S. 62.) History: P.A. 77-614 replaced bank commissioner with banking commissioner within the department of business regulation and made banking department a division within that department, effective January 1, 1979; P.A. 79-160 defined “bona fide nonprofit organization” and deleted reference to receipt of fee or compensation in definition of “debt adjustment”; P.A. 80-482 restored banking division as independent department and abolished the department of business regulation, allowing revision of commissioner's name to omit reference to abolished department; (Revisor's note: Pursuant to P.A. 87-9 “banking commissioner” was changed editorially by the Revisors to “commissioner of banking”); P.A. 94-122 deleted the definition of “commissioner”, effective January 1, 1995; Sec. 36-364 transferred to Sec. 36a-655 in 1995; P.A. 95-79 redefined “bona fide nonprofit organization” to include a limited liability company, effective May 31, 1995; P.A. 02-111 redefined “bona fide nonprofit organization” and added definition of “debtor”; P.A. 09-208 redefined “debt adjustment”; P.A. 17-233 added Subdiv. (1) re definition of “advertise” or “advertising”, designated existing provisions re “bona fide nonprofit organization” as Subdiv. (2), added Subdiv. (3) re definition of “control person”, designated existing provisions re “debt adjustment” as Subdiv. (4), designated existing provisions re “debtor” as Subdiv. (5), and made technical changes; P.A. 18-173 added new Subdiv. (3) re definition of “branch office”, redesignated existing Subdivs. (3) to (5) as Subdivs. (4) to (6), added Subdiv. (7) re definition of “main office”, and added Subdiv. (8) re definition of “unique identifier”.