Connecticut § 38a-718 (Formerly Sec. 38-76c). Restrictions on negotiation of insurance incidental to extension of credit.

Connecticut Statutes

§ 38a-718 — (Formerly Sec. 38-76c). Restrictions on negotiation of insurance incidental to extension of credit.

Connecticut § 38a-718

Title 38aInsurance

Ch. 701aInsurance Producers, Agents and Third-Party Administrators

This text of Connecticut § 38a-718 ((Formerly Sec. 38-76c). Restrictions on negotiation of insurance incidental to extension of credit.) 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. § 38a-718 (2026).

Text

(a)As used in this section (1) “bank holding company” has the same meaning as provided in section 36-419, and (2) “lending institution” includes, but is not limited to, banks, savings and loan associations and credit unions.

(b)No person, partnership, association or corporation licensed under the provisions of section 38a-769 , which is owned or controlled, directly or indirectly, by a bank holding company or lending institution, shall negotiate any policy of insurance applicable to any real or personal property which is security for an extension of credit by any lending institution, if approval of the transaction is contingent on the purchase of said insurance.

(c)The terms of this section shall not be construed to apply to any person, partnership, association or corporation owned or c

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(a) As used in this section (1) “bank holding company” has the same meaning as provided in section 36-419, and (2) “lending institution” includes, but is not limited to, banks, savings and loan associations and credit unions. (b) No person, partnership, association or corporation licensed under the provisions of section 38a-769 , which is owned or controlled, directly or indirectly, by a bank holding company or lending institution, shall negotiate any policy of insurance applicable to any real or personal property which is security for an extension of credit by any lending institution, if approval of the transaction is contingent on the purchase of said insurance. (c) The terms of this section shall not be construed to apply to any person, partnership, association or corporation owned or controlled by a bank holding company or any lending institution engaged in the activity prohibited hereby on December 31, 1971.

Legislative History

(1972, P.A. 109, S. 1–3; P.A. 07-217, S. 158; P.A. 14-122, S. 171.) History: Sec. 38-76c transferred to Sec. 38a-718 in 1991; P.A. 07-217 made technical changes in Subsec. (a), effective July 12, 2007; P.A. 14-122 made technical changes in Subsec. (a).