Connecticut Administrative Code Title 36 - The Banking Law of Connecticut (repealed)
Title 36 – The Banking Law of Connecticut was a comprehensive body of statutes governing the regulation and operation of financial institutions within the state. However, as of January 1, 1996, this title has been repealed and replaced by Title 36a – The Banking Law of Connecticut, which continues to serve as the primary legal framework for banking and financial services regulation in Connecticut.
🔄 Transition from Title 36 to Title 36a
The repeal of Title 36 and the enactment of Title 36a were part of a legislative effort to modernize and streamline the state's banking laws. This transition involved:
Repeal of Existing Sections: All sections under Title 36 (Chapters 634–662e, Secs. 36-1 to 36-583) were repealed. (cga.ct.gov)
Transfer of Provisions: Many provisions from Title 36 were transferred to Title 36a, often with modifications to reflect contemporary banking practices and regulatory standards.(cga.ct.gov)
Introduction of New Regulations: Title 36a introduced updated regulations and structures to address emerging issues in the banking sector, including digital banking, consumer protection, and financial technology.
📘 Overview of Title 36a – The Banking Law of Connecticut
Title 36a encompasses a broad range of chapters and sections that regulate various aspects of banking and financial services in Connecticut. Key areas include:
General Provisions and Definitions: Establishes the foundational terms and concepts used throughout the banking laws.
Administration and Enforcement: Outlines the powers and responsibilities of the Department of Banking and its commissioner.
Corporate Organization and Administration: Regulates the formation, operation, and governance of Connecticut banks.
Powers, Loans, and Investments: Details the permissible activities and financial operations of banking institutions.
Deposits and Fiduciary Powers: Addresses the handling of customer deposits and the fiduciary duties of banks.
Credit Unions and Nondepository Financial Institutions: Provides regulations for credit unions and other financial entities that do not accept deposits.
Regulated Activities: Lists specific financial activities subject to regulation, such as lending practices and investment services.
For a detailed breakdown of the chapters and sections under Title 36a, you can refer to the Connecticut General Assembly's official publication: (cga.ct.gov).
📚 Accessing Former Title 36 Provisions
While Title 36 has been repealed, historical provisions and their legislative histories can still be accessed for reference purposes. The Connecticut General Assembly's website provides access to these repealed sections, which can be useful for understanding the evolution of banking laws in the state: (cga.ct.gov).
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