Conn. Gen. Stat. § 36a-224
(Formerly Sec. 36-37). Refinancing or reorganization of Connecticut banks and credit unions in receivership
Connecticut · General Statutes of Connecticut Chapter 664c — Fundamental Changes Involving Banks, Branches, Automated Teller Machines, Virtual Banking and Bank Holding Companies · Status: effective
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- Citation
- Conn. Gen. Stat. § 36a-224, (Formerly Sec. 36-37). Refinancing or reorganization of Connecticut banks and credit unions in receivership, Connecticut, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2200696
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Full text
Upon recommendation of the receiver and with the approval of the court having jurisdiction, any Connecticut bank or Connecticut credit union placed in receivership may be reopened and may resume business and such receiver, upon the application of any depositor, shareholder, share account holder, client or creditor thereof, shall present to the court having jurisdiction, for the court's approval, any plan of refinancing or reorganization which has been submitted to the receiver by such depositor, share account holder, client, shareholder or creditor. Any authorized committee of shareholders, share account holders, depositors or clients may, with the approval of the superior court having jurisdiction, examine the records of such bank or credit union for which they appear, in the possession of the receiver, for the purpose of preparing a plan of refinancing or reorganization of such bank or credit union. After submitting such proposed plan to the court having jurisdiction, the receiver shall be subject to such orders as are made by the court respecting such plan.