DOB: News Bulletin 2110 - July 30, 2004

The Department of Banking News Bulletin 

Bulletin # 2110
Week Ending July 30, 2004

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to John P. Burke, Commissioner of Banking, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail to Written comments will be considered only if they are received within ten days from the date of this bulletin.

State Bank Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided. Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days. Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.

Date Bank Location Activity
11/01/04 NewMil Bank
New Milford
* 80 Heritage Road
   Southbury, CT  06488
*Special Needs Branch

State Credit Union Activity

Date Credit Union Location Activity
7/29/04 Mutual Security Credit Union
Corporate Center
39 Old Ridgebury Road
Danbury, CT  06817

 Investment Company Assessed $2,500 for Failing
to File Investment Company Notice

On July 27, 2004, the Commissioner entered into a Stipulation and Agreement with Maxim Series Fund, Inc. of 8525 East Orchard Road, Greenwood Village, Colorado. The corporation is an open-end management investment company that has been in operation since 1982 and that is registered with the Securities and Exchange Commission. The Stipulation and Agreement alleged that, from January 1, 2003 until April 28, 2004, when a notice was filed, Maxim Series Fund, Inc. failed to make the yearly investment company notice filing required by Section 36b-21(c) of the Connecticut Uniform Securities Act for Maxim Loomis Sayles Bond Portfolio and failed to pay the fees required by Section 36b-21(c) of the Act. In resolution of the matter, Maxim Series Fund, Inc. agreed to pay $2,500 to the agency. Of that amount $2,000 constituted an administrative fine and $500 represented reimbursement for notice filing fees covering calendar year 2003.

Dated: Tuesday, August 3, 2004

John P. Burke