SB01256: An Act Concerning The Organization, Administration And Receivership Of Certain Financial Institutions.

Legislative Summary

To: (1) Increase the fee for investigating and processing an application for the organization of a Connecticut bank; (2) eliminate a factor considered in determining whether the public will be served to advantage by the establishment of a proposed Connecticut bank; (3) increase the amount of assets on deposit that trust banks and innovation banks are required to keep; (4) eliminate a factor considered in determining whether to approve the relocation of a Connecticut bank's main office; (5) reduce the period of time during which written objections may be made to an application made by a bank or association for permission to change its name; and (6) modify the duty of a receiver for a Connecticut bank or Connecticut credit union.