Sec. 36a-24. Hearings.
Sec. 36a-24. Hearings. (a) The commissioner, in the commissioner's discretion,
may hold a hearing in connection with any application filed with the commissioner and
otherwise, with respect to any matter within the commissioner's jurisdiction, as the
commissioner may determine. In the case of an acquisition pursuant to section 36a-184,
the commissioner shall call such a hearing if the bank or holding company named in
the acquisition statement:
(1) Files with the commissioner a written request for a hearing not later than fifteen
days after the acquisition statement is filed with the commissioner or the acquisition
statement is received by the bank or holding company, whichever is later; and
(2) With such written request, files a statement of issues of fact which, if proved,
would constitute grounds for the commissioner's disapproval under subsection (b) of
section 36a-185. Such hearing shall be called to commence not later than sixty days
after the filing of the acquisition statement.
(b) The commissioner shall give not less than fifteen days' notice of hearing held
in connection with an acquisition pursuant to section 36a-184 to the person filing the
acquisition statement and to the bank or holding company referred to in the acquisition
statement. The commissioner may give, or may require that the person filing the acquisition statement give, not less than fifteen days' notice of the hearing to the shareholders
of such bank or holding company and such other interested persons as may be designated
by the commissioner to receive notice. Any such notice to shareholders and other interested persons shall be in a form approved by the commissioner. The commissioner
may, in the commissioner's discretion, require that a copy of the acquisition statement
accompany the notice to the shareholders of such bank or holding company. If the
hearing was requested by the person filing the acquisition statement, the notice to the
shareholders of such bank or holding company and a copy of the acquisition statement,
if required by the commissioner, shall be mailed to the shareholders by such bank or
holding company at the expense of the person filing the statement. The commissioner
shall make a determination as promptly as practicable after the conclusion of such hearing. The determination shall state either that the commissioner disapproves the offer,
invitation, request, agreement or acquisition or that the commissioner does not disapprove it.
(c) Any hearing held under this section shall be conducted in accordance with chapter 54.
(P.A. 98-260, S. 11; P.A. 99-36, S. 2.)
History: P.A. 99-36 made a technical change in Subsec. (a).