Sec. 36a-215. (Formerly Sec. 36-22b). Powers re troubled trust banks and uninsured banks.
Sec. 36a-215. (Formerly Sec. 36-22b). Powers re troubled trust banks and uninsured banks. If, in the opinion of the commissioner, a trust bank, or an uninsured
bank, in danger of becoming insolvent, is not likely to be able to meet the demands of
its depositors, in the case of an uninsured bank, or pay its obligations in the normal
course of business, or is likely to incur losses that may deplete all or substantially all
of its capital, the commissioner may require such trust bank or uninsured bank to increase
the assets kept on deposit as required by subsection (u) of section 36a-70 to an amount
that would be sufficient to meet the costs and expenses incurred by the commissioner
pursuant to section 36a-222 and all fees and assessments due the commissioner. Such
assets shall be deposited with such bank as the commissioner may designate, and shall
be in such form and subject to such conditions as the commissioner deems necessary.
(P.A. 92-7, S. 1, 2; P.A. 94-122, S. 90, 340; P.A. 01-183, S. 6, 11; P.A. 03-19, S. 81; P.A. 04-136, S. 9.)
History: P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-22b transferred to Sec. 36a-215 in 1995;
P.A. 01-183 replaced former provisions re commissioner's powers concerning transactions involving troubled financial
institutions with provisions re commissioner's powers concerning troubled Connecticut banks organized to function solely
in a fiduciary capacity or troubled uninsured banks, effective July 6, 2001; P.A. 03-19 made a technical change, effective
May 12, 2003; P.A. 04-136 substituted "trust bank" for "Connecticut bank organized to function solely in a fiduciary
capacity", replaced "keep assets" with "increase the assets kept", added provision re requirements of Sec. 36a-70(u),
substituted "36a-222" for "36a-223" and deleted definition of "uninsured bank", effective May 12, 2004.