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General Assembly Substitute Bill No. 1399
January Session, 2025
AN ACT CONCERNING A STUDY REGARDING THE
ESTABLISHMENT OF LIMITED PURPOSE TRUST COMPANIES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (Effective from passage) The Department of Banking shall 1
conduct a study regarding the establishment of limited purpose trust 2
companies in the state. Not later than December 1, 2025, the department 3
shall submit a report, in accordance with the provisions of section 11-4a 4
of the general statutes, concerning the results of such study to the joint 5
standing committee of the General Assembly having cognizance of 6
matters relating to banking. Such report shall include, but need not be 7
limited to, recommendations for legislation necessary to authorize the 8
establishment of limited purpose trust companies in the state. 9
This act shall take effect as follows and shall amend the following
sections:
Section 1 from passage New section
BA Joint Favorable Subst.