Conn. Gen. Stat. § 36a-435
(Formerly Sec. 36-194). Definitions
Section 36a-435 is repealed, effective October 1, 2002.
General Statutes of Connecticut Chapter 667 — Credit Unions
Connecticut · statute · Conn. Gen. Stat. ch. 667 · 65 active provisions
Conn. Gen. Stat. § 36a-435a
Short title: Connecticut Credit Union Act
Sections 36a-435a to 36a-472a, inclusive, shall be known as the “Connecticut Credit Union Act”.
Conn. Gen. Stat. § 36a-435b
Definitions
As used in sections 36a-435a to 36a-472a, inclusive, unless the context otherwise requires: (1) “Appointed director” means a director emeritus or an advisory director of a Connecticut credit union who is not a member of the governing board of such credit union; (2) “Branch” means any office established by a Connecticut…
Conn. Gen. Stat. § 36a-436
(Formerly Sec. 36-195). License required
Section 36a-436 is repealed, effective October 1, 2002.
Conn. Gen. Stat. § 36a-436a
Franchise and filing fee payable to the Secretary of the State
(a) The franchise and filing fee payable to the Secretary of the State shall be thirteen dollars for the filing of a certificate of incorporation upon the incorporation of a Connecticut credit union under the laws of this state. (b) The filing and certification fee payable to the Secretary of the State shall be thirtee…
Conn. Gen. Stat. § 36a-436b
Issuance of certificate of authority to engage in business of Connecticut credit union
(a) No person shall, or have the power to, engage in the business of a Connecticut credit union in this state until such person has obtained a certificate of authority to engage in the business of a Connecticut credit union from the commissioner. (b) No person shall use, either as a part of its name or as a prefix or s…
Conn. Gen. Stat. § 36a-437
(Formerly Sec. 36-196). Organization
Section 36a-437 is repealed, effective October 1, 2002.
Conn. Gen. Stat. § 36a-437a
Organization
(a) A Connecticut credit union organized under this title shall be subject to the provisions of the laws of this state governing corporations without capital stock, provided the provisions of this title shall prevail over any inconsistent provisions of title 33. (b) Seven or more individuals may file with the commissio…
Conn. Gen. Stat. § 36a-438
(Formerly Sec. 36-196a). Field of membership. Expansion. Membership applications. Continuation of membership. Expulsion or withdrawal of member
Section 36a-438 is repealed, effective October 1, 2002.
Conn. Gen. Stat. § 36a-438a
Field of membership. Expansion. Change in field of membership
(a)(1) Except as provided in subdivision (2) of this subsection, the field of membership of a Connecticut credit union is limited to: (A) A single common bond membership; (B) a multiple common bond membership; (C) persons within a well-defined community, neighborhood or rural district; or (D) any combination thereof. (…
Conn. Gen. Stat. § 36a-439
(Formerly Sec. 36-196c). Change in the field of membership
Section 36a-439 is repealed, effective October 1, 2002.
Conn. Gen. Stat. § 36a-439a
Membership applications. Expulsion of member
(a) All applications for membership shall be submitted to the Connecticut credit union. The governing board at a regular meeting shall consider and act upon the membership applications received by the Connecticut credit union subsequent to the previous regular meeting or such applications may be considered and acted up…
Conn. Gen. Stat. § 36a-440
(Formerly Sec. 36-196d). Central credit union
Section 36a-440 is repealed, effective October 1, 2002.
Conn. Gen. Stat. § 36a-440a
Meetings
(a) A Connecticut credit union shall hold an annual meeting as provided in its bylaws. Special meetings of members shall be held as provided in the bylaws and shall be called by the governing board at the request of a majority of the governing board, at the written request of the supervisory committee, or ten per cent…
Conn. Gen. Stat. § 36a-440b
Financial and statistical reports and other information. Records
(a) A Connecticut credit union shall file (1) financial and statistical reports with the National Credit Union Administration or its successor agency in accordance with and at such times as required by 12 CFR 741.6, as amended from time to time, and (2) such other reports and information as may be required by the commi…
Conn. Gen. Stat. § 36a-441
(Formerly Sec. 36-198). Powers
Section 36a-441 is repealed, effective October 1, 2002.
Conn. Gen. Stat. § 36a-441a
Loan and lease losses account. Net worth requirement
(a) A Connecticut credit union shall establish and maintain an allowance for loan and lease losses account in an amount that represents the estimated losses on loans and leases. The allowance for loan and lease losses account requirement shall be computed and adjusted, through the provision for loan and lease losses ac…
Conn. Gen. Stat. § 36a-442
(Formerly Sec. 36-198b). Mortgage loans to members
Section 36a-442 is repealed, effective October 1, 2002.
Conn. Gen. Stat. § 36a-442a
Deposit of funds; withdrawals. Bond requirement
(a) The funds of a Connecticut credit union shall be deposited in the name of the credit union only in such depository or depositories as designated by the governing board, in accordance with section 36a-459a, and no withdrawal of such funds shall be made unless the check or order withdrawing such funds is signed by a…
Conn. Gen. Stat. § 36a-448a
Governing board powers
(a) The governing board of a Connecticut credit union shall be charged with and have control over the general management of the operations, funds, committee actions and records of the credit union. Except to the extent the governing board is otherwise authorized to delegate such authority or unless such action would be…
Conn. Gen. Stat. § 36a-449
(Formerly Sec. 36-203a). Governing board meetings
Section 36a-449 is repealed, effective October 1, 2002.
Conn. Gen. Stat. § 36a-449a
Meetings of governing board
(a) The governing board of a Connecticut credit union shall meet as often as necessary and at least monthly, provided if the governing board delegates its authority to an executive committee, one body shall meet at least monthly and the other at least quarterly, as provided in the bylaws. The governing board shall keep…
Conn. Gen. Stat. § 36a-450
(Formerly Sec. 36-203b). Governing board powers. Committees
Section 36a-450 is repealed, effective October 1, 2002.
Conn. Gen. Stat. § 36a-450a
Executive committee
(a) The executive committee, if one is appointed by the governing board, shall consist of an odd number of not less than three directors of the Connecticut credit union. (b) The executive committee shall meet in accordance with section 36a-449a, and as often as necessary and shall act for the governing board between me…
Conn. Gen. Stat. § 36a-451
(Formerly Sec. 36-203c). Executive committee
Section 36a-451 is repealed, effective October 1, 2002.
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