General Assembly Raised Bill No. 127
February Session, 2014 LCO No. 933
*00933_______BA_*
Referred to Committee on BANKS
Introduced by:
(BA)
General Assembly
Raised Bill No. 127
February Session, 2014
LCO No. 933
*00933_______BA_*
Referred to Committee on BANKS
Introduced by:
(BA)
AN ACT CONCERNING THE DEPARTMENT OF BANKING.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Section 36a-1 of the 2014 supplement to the general statutes repealed and the following is substituted in lieu thereof (Effective October 1, 2014):
This title shall be known as the "Banking Law of Connecticut" and shall be applicable to all Connecticut banks, Connecticut credit unions, mortgage lenders, mortgage correspondent lenders, mortgage brokers, mortgage loan originators, loan processors or underwriters, money transmitters, check cashers, trustees under mortgages or deeds of trust of real property securing certain investments, corporations exercising fiduciary powers, small loan lenders, business and industrial development corporation licensees, sales finance companies, mortgage servicing companies, debt adjusters, debt negotiators, consumer collection agencies and to such other persons [as] who subject themselves to the provisions of this title or who, by violating any of its provisions, become subject to the penalties provided in this title.
Sec. 2. Section 36a-3 of the 2014 supplement to the general statutes is repealed. (Effective October 1, 2014)
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2014 36a-1
Sec. 2 October 1, 2014 Repealer section
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2014
36a-1
Sec. 2
October 1, 2014
Repealer section
Statement of Purpose:
To make changes to the general statutes related to the Department of Banking.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]