DOB: Department of Banking Regulations

Regulations of Connecticut State Agencies
Adopted by the Banking Commissioner
 
 

Regulation Compilation.doc, revised to February 9, 2009

     file size 910 KB, 162 pages (includes banking, securities, consumer credit and related regulations)


Individual Regulations Available for Download

Bank & Credit Union Regulations

Check Casher Regulations

Consumer Credit Regulations

Department of Banking Organization and Rules of Practice

Securities Regulations



Bank & Credit Union Regulations

Community Reinvestment Act Compliance, Consumer Protection Law Compliance and Community Reinvestment Plan Requirements for Certain Transaction Applications
   
(Word document, file size 59 KB, 6 pages)
Sec. 36a-34-1.  Definitions
Sec. 36a-34-2.  Submissions concerning Community Reinvestment Act compliance, consumer protection law compliance and community reinvestment plan required in connection with applications for the establishment of branches, mergers or consolidations, the organization of holding companies and interstate banking approvals
Sec. 36a-34-3.  Submissions concerning Community Reinvestment Act compliance, consumer protection law compliance and community reinvestment plan required in connection with the acquisition of beneficial ownership of voting securities of banks and holding companies

Retention of Records by Connecticut Banks and Connecticut Credit Unions
   
(Word document, file size 96 KB, 11 pages)
Sec. 36a-40-1.  Definitions
Sec. 36a-40-2.  General rules
Sec. 36a-40-3.  Connecticut banks
Sec. 36a-40-4.  Connecticut credit unions

Conversion of Mutual Connecticut Banks to Capital Stock Connecticut Banks
   (Word document, file size 186 KB, 25 pages)
Sec. 36a-136-1.  Definitions
Sec. 36a-136-2.  Pre-conversion meeting
Sec. 36a-136-3.  Business plan
Sec. 36a-136-4.  Confidentiality
Sec. 36a-136-5.  Adoption of plan of conversion
Sec. 36a-136-6.  Notice to depositors
Sec. 36a-136-7.  Amendment of plan of conversion of a mutual savings and loan association
Sec. 36a-136-8.  Filing requirements
Sec. 36a-136-9.  Confidentiality of conversion application
Sec. 36a-136-10.  Amendment of conversion application
Sec. 36a-136-11.  Notice of filing of application and comment process
Sec. 36a-136-12.  Actions by commissioner on conversion application
Sec. 36a-136-13.  Vote by depositors of a converting mutual savings and loan association
Sec. 36a-136-14.  Proxy solicitation for vote of depositors of a mutual savings and loan association
Sec. 36a-136-15.  Filing of offering circular
Sec. 36a-136-16.  Distribution of offering circular
Sec. 36a-136-17.  Filing of post-effective amendment to the offering circular
Sec. 36a-136-18.  Purchase priority and timing of offer to sell conversion shares
Sec. 36a-136-19.  Pricing of conversion shares
Sec. 36a-136-20.  Sale of conversion shares
Sec. 36a-136-21.  Prohibited sales practices
Sec. 36a-136-22.  Payment for conversion shares by subscribers
Sec. 36a-136-23.  Payment of interest on payments for conversion shares
Sec. 36a-136-24.  Subscription rights of eligible account holders and supplemental elegible account holders
Sec. 36a-136-25.  Officers and directors and their associates as eligible account holders
Sec. 36a-136-26.  Purchase of conversion shares by other depositors of a mutual savings and loan association
Sec. 36a-136-27.  Limitations on the aggregate purchases of conversion shares by officers, directors and their associates
Sec. 36a-136-28.  Allocation of conversion shares if shares are oversubscribed
Sec. 36a-136-29.  Purchase of conversion shares by employee stock ownership plan
Sec. 36a-136-30.  Imposition of purchase limitations by the converting institution
Sec. 36a-136-31.  Purchase preference for persons in the local community
Sec. 36a-136-32.  Other conditions applicable to the offering of conversion shares in a community offering, a public offering or both
Sec. 36a-136-33.  Completion of sale of stock
Sec. 36a-136-34.  Completion of conversion
Sec. 36a-136-35.  Termination of the conversion
Sec. 36a-136-36.  Rights of depositors of the converted institution
Sec. 36a-136-37.  Liquidation account
Sec. 36a-136-38.  Implementation of a stock option plan or management or employee stock benefit plan
Sec. 36a-136-39.  Restrictions on trading of shares by directors, officers and their associates
Sec. 36a-136-40.  Repurchase of shares after conversion
Sec. 36a-136-41.  Declaration or payments of dividends after conversion
Sec. 36a-136-42.  Acquisition of shares after conversion
Sec. 36a-136-43.  Other requirements after conversion
Sec. 36a-136-44.  Donation of conversion shares or conversion proceeds to a charitable organization
Sec. 36a-136-45.  Formation of a holding company as part of the conversion
Sec. 36a-136-46.  Acquisition of another insured capital stock bank as part of the conversion
Sec. 36a-136-47.  Merger with an existing insured capital stock bank as part of the conversion
Sec. 36a-136-48.  Acquisition by an existing holding company as part of the conversion

Community Reinvestment Act Compliance, Consumer Protection Law Compliance and Community Reinvestment Plan Requirements for Certain Transaction Applications
   
(Word document, file size 41 KB, 2 pages)
Sec. 36a-145-1.  Submissions concerning Community Reinvestment Act compliance and consumer protection law compliance required in connection with applications for the establishment by Connecticut banks of branches, limited branches or mobile branches outside of this state

Maximum Deposit Liability, Collateral and Reports by Qualified Public Depositories
   
(Word document, file size 55 KB, 5 pages)
Sec. 36a-332-1.  Definitions
Sec. 36a-332-2.  Requirements for qualification as qualified public depository
Sec. 36a-332-3.  Other terms and conditions
Sec. 36a-332-4.  Requirements for financial institutions to serve as trustee for segregated eligible collateral
Sec. 36a-332-5.  Requirements for the transfer of eligible collateral
Sec. 36a-332-6.  Valuation of eligible collateral
Sec. 36a-332-7.  Reports to commissioner
Sec. 36a-332-8.  Total capital

Protection of Public Deposits
   
(Word document, file size 40 KB, 2 pages)
Sec. 36a-333-1.  Risk-based capital ratio
Sec. 36a-333-2.  Public deposits held by the depository

Supervision and Examination of Out-of-State Banks
   (Word document, file size 42 KB, 2 pages)
Sec. 36a-412-1.  Authority, scope, purpose
Sec. 36a-412-2.  Definition
Sec. 36a-412-3.  Supervision, examination and reports

Foreign Banks
   
(Word document, file size 88 KB, 11 pages)
Sec. 36a-428-1.  Separate books and records
Sec. 36a-428-2.  Language
Sec. 36a-428-3.  Reports
Sec. 36a-428c-1.  Definitions
Sec. 36a-428c-2.  Maintenance of assets
Sec. 36a-428c-3.  Documentation for assets
Sec. 36a-428c-4.  Assets to be deposited
Sec. 36a-428c-5.  Record of assets and liabilities
Sec. 36a-428c-6.  Deposit agreement
Sec. 36a-428c-7.  Record of deposits
Sec. 36a-428g-1.  Separate books and records
Sec. 36a-428g-2.  Language
Sec. 36a-428g-3.  Reports
Sec. 36a-428n-1.  Disposition of personal property in custody or possession of foreign bank in involuntary liquidation

Share Accounts with an Agreed Maturity in Connecticut Credit Unions
   
(Word document, file size 43 KB, 2 pages)
Sec. 36a-446-1.  Definitions
Sec. 36a-446-2.  Term shares and term share accounts
Sec. 36a-446-3.  Term share account agreements
Sec. 36a-446-4.  Term share account procedures
Sec. 36a-446-5.  Share insurance

Payment of Interest Refunds by Connecticut Credit Unions
   
(Word document, file size 44 KB, 3 pages)
Sec. 36a-456-1.  Definitions
Sec. 36a-456-2.  Authorization of payment of interest refunds
Sec. 36a-456-3.  Refund to be paid from income received during period
Sec. 36a-456-4.  Payment of interest refunds
Sec. 36a-456-5.  Accounting
Sec. 36a-456-6.  Application for approval

Risk Assets of Connecticut Credit Unions
   
(Word document, file size 38 KB, 2 pages)
Sec. 36a-458-1.  Risk assets defined

Home Mortgage Disclosure Act
   
(Word document, file size 61 KB, 7 pages)
Sec. 36a-744-1.  Authority, scope, purpose
Sec. 36a-744-2.  Definitions
Sec. 36a-744-3.  Prohibited practices
Sec. 36a-744-4.  Compilation of mortgage loan data
Sec. 36a-744-5.  Disclosure requirements
Sec. 36a-744-6.  Exemptions
Sec. 36a-744-7.  Compliance and investigation
Sec. 36a-744-8.  Violations and sanctions

Execution Against Debts Due from Banking Institutions
   
(Word document, file size 40 KB, 2 pages)
Sec. 52-367a-1.  Designation of employee and branch office
Sec. 52-367b-1.  Designation of employee and branch office


 
 
Maximum Check Cashing Fees
   
(Word document, file size 39 KB, 2 pages)
Sec. 36a-585-1.  Check cashing fees

Licensing of Check Cashing Services
   
(Word document, file size 45 KB, 3 pages)
Sec. 36a-588-1.  Definitions
Sec. 36a-588-3.  Books, records and accounts
Sec. 36a-588-4.  Reports


 
 
 
Fees Charged by Real Estate Brokers and Salesmen
   
(Word document, file size 43 KB, 2 pages)
Sec. 20-325c-1.  Definitions
Sec. 20-325c-2.  Scope of regulations
Sec. 20-325c-3.  Written agreement
Sec. 20-325c-4.  Fee, commission, consideration
Sec. 20-325c-5.  Itemized invoice required

Small Loan Licensees
   
(Word document, file size 81 KB, 10 pages)
Sec. 36a-570-1.  Definitions
Sec. 36a-570-2.  Advertising and solicitation
Sec. 36a-570-3.  Deferral charges
Sec. 36a-570-4.  Extended first payments, interest after maturity, rebates of unearned charges, and renewals
Sec. 36a-570-5.  Collection practices
Sec. 36a-570-6.  General conduct of business
Sec. 36a-570-7.  Office and office hours
Sec. 36a-570-8.  Books and records
Sec. 36a-570-9.  Miscellaneous
Sec. 36a-570-10.  Other businesses on licensed premises
Sec. 36a-570-11.  Records and accounts of affiliated entities
Sec. 36a-570-12.  Restrictions on loans by affiliated entities
Sec. 36a-570-13.  Refinancing loans
Sec. 36a-570-14.  Restrictions on affiliated entities
Sec. 36a-570-15.  Revocation of authorization
Sec. 36a-570-16.  Investigations and examinations
Sec. 36a-570-17.  Mortgage loans in excess of five thousand dollars

Collection Practices of Creditors
   
(Word document, file size 68 KB, 7 pages)
Sec. 36a-647-1.  Authority
Sec. 36a-647-2.  Definitions
Sec. 36a-647-3.  Location information
Sec. 36a-647-4.  Communications
Sec. 36a-647-5.  Conduct
Sec. 36a-647-6.  Representations, devices, practices
Sec. 36a-647-7.  Violation of provisions

Consumer Collection Agencies
   
(Word document, file size 78 KB, 9 pages)
Sec. 36a-809-1.  Books, records and accounts
Sec. 36a-809-2.  Changes in personnel or ownership
Sec. 36a-809-3.  Collection practices
Sec. 36a-809-4.  Consumer collection agencies desiring to terminate business
Sec. 36a-809-5.  Claims in the process of collection
Sec. 36a-809-6.  Definitions
Sec. 36a-809-7.  Books and records
Sec. 36a-809-8.  Record keeping of information regarding collectors
Sec. 36a-809-9.  Record keeping methods and consumer collection agency communications
Sec. 36a-809-10.  Harassment or abuse
Sec. 36a-809-11.  False or misleading representations
Sec. 36a-809-12.  Unfair practices
Sec. 36a-809-13.  Validation of debts
Sec. 36a-809-14.  Multiple debts
Sec. 36a-809-15.  Furnishing certain deceptive forms
Sec. 36a-809-16.  Consumer collection agencies desiring to terminate business
Sec. 36a-809-17.  Process of collection

Interest on Funds Held in Escrow by Mortgagees
   
(Word document, file size 43 KB, 2 pages)
Sec. 49-2a-1.  Definitions
Sec. 49-2a-2.  Minimum interest calculation
Sec. 49-2a-3.  Payment of interest upon final repayment of mortgage
Sec. 49-2a-4.  Annual report of interest credited by mortgagee

Protection from Mortgage Foreclosure
   
(Word document, file size 50 KB, 4 pages)
Sec. 49-31j-1.  Definitions
Sec. 49-31j-2.  Notice
Sec. 49-31j-3.  Method used to compute restructured mortgage debt
Sec. 49-31j-4.  Limitation on amount
Sec. 49-31j-5.  Composite interest rate
Sec. 49-31j-6.  New mortgage payments
Sec. 49-31j-7.  Variable interest rate
Sec. 49-31j-8.  Composite interest rate adjustment
Sec. 49-31j-9.  Supplemental order


Department of Banking Organization and Rules of Practice
(Word document, file size 205 KB, 29 pages)

Article 1, General
Sec. 36a-1-1.  Definitions
Sec. 36a-1-2.  Duties and authority of the department
Sec. 36a-1-3.  Basic organization
Sec. 36a-1-4.  Location of office, contact information and business hours
Sec. 36a-1-5.  Public information
Sec. 36a-1-6.  Submissions and filings
Sec. 36a-1-7.  Fees, fines, civil penalties or other payments
Sec. 36a-1-8.  Advisory opinions or other legal interpretations
Sec. 36a-1-9.  Construction and waiver of rules
Sec. 36a-1-10.  Computation of time
Sec. 36a-1-11.  Extensions of time
Sec. 36a-1-12.  Effect of filing
Sec. 36a-1-13.  Service
Sec. 36a-1-14.  Activities of former commissioners and employees
Sec. 36a-1-15.  Witnesses and subpoenas
Sec. 36a-1-16.  Rights of witnesses
Secs. 36a-1-17 to 36a-1-18.  Reserved
Article 2, Rules of Practice in Contested Cases
Sec. 36a-1-19.  Scope
Sec. 36a-1-20.  Commencement of contested case
Sec. 36a-1-21.  Notice of hearings
Sec. 36a-1-22.  Amendment of notice of hearing
Sec. 36a-1-23.  Hearing location
Sec. 36a-1-24.  Bill of particulars
Sec. 36a-1-25.  Hearings
Sec. 36a-1-26.  Recording, broadcasting or photographing hearings
Sec. 36a-1-27.  Powers of the presiding officer
Sec. 36a-1-28.  Consolidation and severance
Sec. 36a-1-29.  Motions
Sec. 36a-1-30.  Continuances
Sec. 36a-1-31.  Failure to request or appear at a hearing
Sec. 36a-1-32.  Appearances and withdrawals
Sec. 36a-1-33.  Ex parte communications
Sec. 36a-1-34.  Record in a contested case
Sec. 36a-1-35.  Requests for inspection and copying
Sec. 36a-1-36.  Responses to requests for inspection and copying; objections
Sec. 36a-1-37.  Motions for compliance
Sec. 36a-1-38.  Rulings on motions for compliance
Sec. 36a-1-39.  Failure to comply with an order on a motion for compliance
Sec. 36a-1-40.  Continuing duty to disclose
Sec. 36a-1-41.  Conferences
Sec. 36a-1-42.  Hearing subpoenas
Sec. 36a-1-43.  Conduct of hearings
Sec. 36a-1-44.  Recording of hearings
Sec. 36a-1-45.  Transcript corrections
Sec. 36a-1-46.  Evidence
Sec. 36a-1-47.  In camera inspection and nonpublic information
Sec. 36a-1-48.  Filing of additional evidence
Sec. 36a-1-49.  Briefs
Sec. 36a-1-50.  Review by commissioner of rulings
Sec. 36a-1-51.  Proposed final decision
Sec. 36a-1-52.  Final decision
Sec. 36a-1-53.  Reconsideration
Sec. 36a-1-54.  Right to appeal
Sec. 36a-1-55.  Voluntary termination of proceeding
Sec. 36a-1-56.  Stays pending judicial review
Sec. 36a-1-57.  Commissionerís right to conduct an examination
Secs. 36a-1-58 to 36a-1-62.  Reserved
Article 3, Petitions and Applications
Sec. 36a-1-63.  General rule
Sec. 36a-1-64.  Form
Sec. 36a-1-65.  Deficiencies in filing application or petition
Sec. 36a-1-66.  Forms and instructions
Secs. 36a-1-67 to 36a-1-69.  Reserved
Personal Data
Sec. 36a-1-70.  Personal data
Article 4, Regulation-Making
Sec. 36a-1-71.  General rules
Sec. 36a-1-72.  Form of petitions
Sec. 36a-1-73.  Procedure after petition filed
Sec. 36a-1-74.  Notice of intent to adopt regulations
Sec. 36a-1-75.  Procedure after notice of intent to adopt regulations
Sec. 36a-1-76.  Availability of regulation, fiscal note and regulation-making record
Sec. 36a-1-77.  Advance notice of regulation-making proceedings
Sec. 36a-1-78.  Emergency regulations
Secs. 36a-1-79 to 36a-1-82.  Reserved
Article 5, Declaratory Rulings
Sec. 36a-1-83.  General rule
Sec. 36a-1-84.  Form and content of petition for declaratory ruling; filing procedure
Sec. 36a-1-85.  Notice of declaratory ruling petition or declaratory ruling proceeding
Sec. 36a-1-86.  Requests for notice of declaratory ruling petitions or proceedings
Sec. 36a-1-87.  Proceedings on declaratory rulings
Sec. 36a-1-88.  Petition for party or intervenor status in proceedings for declaratory rulings
Sec. 36a-1-89.  Determination of party or intervenor status
Secs. 36a-1-90 to 36a-1-92.  Reserved


Securities Regulations

Securities Brokers, Dealers, Salesmen and Investment Counsel
   
(Word document, file size 43 KB, 2 pages)
Sec. 36-344-4.  Corporate tender offers
Sec. 36-344-5.  Registration statement changes
Sec. 36-344-6.  Beneficial owner

Connecticut Uniform Securities Act
   (Word document, file size 258 KB, 41 pages)
Sec. 36b-31-1.  Reserved
Sec. 36b-31-2.  Authority
Sec. 36b-31-3.  Definitions
Sec. 36b-31-4.  Reserved
Sec. 36b-31-5a.  Advertisements by investment advisers
Sec. 36b-31-5b.  Custody or possession of client funds or securities
Sec. 36b-31-5c.  Disclosures to advisory clients
Sec. 36b-31-5d.  Statement of advisory fee
Sec. 36b-31-5e.  Assignment
Sec. 36b-31-6a.  Broker-dealer and agent registration
Sec. 36b-31-6b.  Investment adviser and investment adviser agent registration
Sec. 36b-31-6c.  Central Registration Depository
Sec. 36b-31-6d.  Temporary transfer procedures
Sec. 36b-31-6e.  Private securities transactions by broker-dealer agents
Sec. 36b-31-6f.  Supervision requirements
Sec. 36b-31-6g.  Multiple registration
Sec. 36b-31-7a.  Broker-dealer applicant experience requirements
Sec. 36b-31-7b.  Investment adviser experience requirements
Sec. 36b-31-7c.  Registration of real property securities dealers
Sec. 36b-31-7d.  Successor registration
Sec. 36b-31-7e.  Requirements for use of trade names by registrants
Sec. 36b-31-8.  Reserved
Sec. 36b-31-9a.  Statement of financial condition
Sec. 36b-31-9b.  Net capital requirements for broker-dealers
Sec. 36b-31-9c.  Minimum capital requirements for investment advisers
Secs. 36b-31-10 to 36b-31-13.  Reserved
Sec. 36b-31-14a.  Record keeping requirements for registered broker-dealers
Sec. 36b-31-14b.  Record keeping requirements for registered investment advisers
Sec. 36b-31-14c.  Filing of financial reports by broker-dealers
Sec. 36b-31-14d.  Filing of financial reports by investment advisers
Sec. 36b-31-14e.  Duty to amend information previously filed
Sec. 36b-31-14f.  Examinations by commissioner
Sec. 36b-31-15a.  Dishonest or unethical business practices by broker-dealers
Sec. 36b-31-15b.  Dishonest or unethical business practices by agents
Sec. 36b-31-15c.  Dishonest or unethical business practices by investment advisers
Sec. 36b-31-15d.  Dishonest or unethical business practices by investment adviser agents
Sec. 36b-31-15e.  Examination requirements for securities personnel
Sec. 36b-31-15f.  Summary orders
Sec. 36b-31-16.  Reserved
Sec. 36b-31-17a.  Registration of securities by coordination
Sec. 36b-31-17b.  Shelf registration
Sec. 36b-31-17c.  Registration by coordination of unit investment trust securities
Sec. 36b-31-18.  Registration of securities by qualification
Sec. 36b-31-18a.  Small corporate offering registration (SCOR)
Sec. 36b-31-19a.  Provisions applicable to registration generally
Sec. 36b-31-19b.  Registration of investment company shares
Sec. 36b-31-19c.  Post-sale registration
Sec. 36b-31-19d.  Registration of offerings eligible to utilize the securities and exchange commission multijurisdictional disclosure system
Sec. 36b-31-20.  Reserved9
Secs. 36b-31-21a-1 to 36b-31-21a-8.  Reserved
Sec. 36b-31-21a-9.  Exemption for securities issued by nonprofit organizations
Secs. 36b-31-21a-10 to 36b-31-21a-21.  Reserved
Sec. 36b-31-21b-1.  Exemption for isolated non-issuer transactions
Sec. 36b-31-21b-2.  Manual exemption
Sec. 36b-31-21b-3.  Exemption for non-issuer transaction through a registered broker-dealer30
Secs. 36b-31-21b-4 to 36b-31-21b-8.  Reserved
Sec. 36b-31-21b-9a.  Exemption for transactions pursuant to Section 4(2) of the Securities Act of 1933
Sec. 36b-31-21b-9b.  Exemption for transactions pursuant to rules 504, 505 and 506 of regulation D
Sec. 36b-31-21b-10.  Reserved
Sec. 36b-31-21b-11.  Exemption for transactions pursuant to an offer to existing security holders of the issuer
Sec. 36b-31-21b-12.  Reserved
Sec. 36b-31-21b-13a.  Exemption for transactions pursuant to Sections 4(1) or 4(4) of the securities act of 1933
Sec. 36b-31-21b-13b.  Exemption for transactions pursuant to section 4(6) of the securities act of 1933
Sec. 36b-31-21b-14.  Exemption for transactions not involving more than 10 purchasers
Sec. 36b-31-21b-15.  Reserved
Sec. 36b-31-21c.  Summary denial or revocation of exemption
Sec. 36b-31-22.  Filing of sales literature with the commissioner
Secs. 36b-31-23 to 36b-31-30.  Reserved
Sec. 36b-31-31a.  Forms
Sec. 36b-31-31b.  Filing of documents; filing fees
Sec. 36b-31-31c.  Exemptions from sections 36b-31-2 to 36b-31-33, inclusive, of the regulations
Sec. 36b-31-31d.  Incorporation of federal statutes, rules and opinions
Sec. 36b-31-31e.  Advisory interpretations
Sec. 36b-31-31f.  Hearings
Secs. 36b-31-32 and 36b-31-33.  Reserved