Sec. 36a-55. (Formerly Sec. 36-7). Derogatory statements affecting banks, out-of-state banks or credit unions.
Sec. 36a-55. (Formerly Sec. 36-7). Derogatory statements affecting banks, out-of-state banks or credit unions. Any person who, wilfully and maliciously, makes,
circulates or transmits to another any false statement, rumor or suggestion, written,
printed or oral, which is, directly or by inference, derogatory to the financial condition
or affects the solvency or financial standing of any bank, out-of-state bank that maintains
in this state a branch as defined in section 36a-410, Connecticut credit union or federal
credit union, or who counsels, aids or induces another to transmit or circulate any such
statement or rumor, shall be fined not more than one thousand dollars or imprisoned
not more than one year or both. A finding by the commissioner as a result of an investigation of any such making, circulating or transmitting, or counseling, aiding or inducing
shall be considered a violation of this section for purposes of the administrative enforcement of sections 36a-50 to 36a-53, inclusive. The commissioner shall refer to the Chief
State's Attorney any evidence found by the commissioner of a criminal violation of the
provisions of this section.
(1949 Rev., S. 8476; 1951, S. 3279d; 1969, P.A. 252, S. 1; P.A. 78-121, S. 11, 113; P.A. 94-122, S. 31, 340; P.A. 95-155, S. 7, 29; P.A. 03-259, S. 5.)
History: 1969 act added reference to credit unions and raised maximum fine from $500 to $1,000; P.A. 78-121 deleted
reference to building associations; P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-7 transferred
to Sec. 36a-55 in 1995; P.A. 95-155 added reference to certain out-of-state banks, effective June 27, 1995; P.A. 03-259
required that finding by commissioner of making, circulating or transmitting, or counseling, aiding or inducing shall be
considered violation of section for purposes of administrative enforcement and required commissioner to refer evidence
of criminal violation of section to Chief State's Attorney.