Conn. Gen. Stat. § 36a-627
License required. Exemptions
Connecticut · General Statutes of Connecticut Chapter 668 — Nondepository Financial Institutions · Status: effective
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- Citation
- Conn. Gen. Stat. § 36a-627, License required. Exemptions, Connecticut, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2201102
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Full text
(a) No person shall engage in the business of a business and industrial development corporation as a participating lender under the loan guarantee programs of the federal Small Business Administration in this state without having received a license under sections 36a-625 to 36a-634, inclusive.
(b) Notwithstanding subsection (a) of this section, the following shall be exempt from the provisions of sections 36a-625 to 36a-634, inclusive:
(1) Any person licensed by the federal Small Business Administration as a small business investment company or a small business lending company;
(2) any bank, out-of-state bank, Connecticut credit union, federal credit union or out-of-state credit union; or (3) any person that is not approved or is not seeking approval by the federal Small Business Administration as a participating lender under one or more of its loan guarantee programs.