Sec. 36a-317. (Formerly Sec. 36-27c). Prohibited acts of financial institutions.
Sec. 36a-317. (Formerly Sec. 36-27c). Prohibited acts of financial institutions.
(a) Except as otherwise provided in sections 36a-315 to 36a-323, inclusive, no financial
institution shall enforce or attempt to enforce any material term, condition, duty or
obligation other than those required by law, federal or state governmental regulation,
rule or order, court order or clearinghouse rule on any depositor with regard to a deposit
account that is opened on or after July 1, 1980, unless such term, condition, duty or
obligation is included in the deposit contract governing such account. The provisions
of title 42a are "required by law" for the purposes of this subsection to the extent that
such provisions are not varied by agreement.
(b) No financial institution shall impose or attempt to impose any deposit account
charge that has not been disclosed to the depositor pursuant to section 36a-318 or 36a-320, as applicable, or is in an amount greater than the amount disclosed to the depositor
pursuant to section 36a-318 or 36a-320, as applicable. Notwithstanding any provision
of the general statutes to the contrary, check printing charges will be deemed to have
been disclosed to the depositor if the financial institution discloses to the depositor (1)
a range of prices, (2) that check printing charges may vary, or (3) that prices upon reorder
may be higher than the price initially disclosed.
(c) No financial institution, other than a Connecticut credit union or federal credit
union, shall pay or attempt to pay interest at a lower annual percentage yield than that
disclosed to the depositor pursuant to section 36a-318 or 36a-321, as applicable.
(P.A. 79-433, S. 3, 11; P.A. 81-261, S. 2; P.A. 93-168, S. 2, 8; P.A. 94-14, S. 1, 2; 94-122, S. 149, 340.)
History: P.A. 79-433 effective July 1, 1980; P.A. 81-261 amended Subsec. (a) by adding "except as otherwise provided
in this chapter", replacing "impose" with "enforce" and providing that the provisions of title 42a are required by law to
the extent that such provisions are not varied by agreement, and amended Subsecs. (b) and (c) by replacing "listed" with
"recited"; P.A. 93-168 amended Subsec. (b) by adding a provision specifying actions which are deemed disclosure of
check printing charges and made technical corrections for accuracy, effective June 23, 1993, except that compliance by
financial institutions shall be optional prior to the mandatory compliance date of the regulations applicable to the financial
institution promulgated pursuant to the Federal Truth in Savings Act, Subtitle F of Title II of the Federal Deposit Insurance
Corporation Improvement Act of 1991, Public Law 102-242, as from time to time amended, or January 1, 1994, whichever
is sooner; P.A. 94-14 changed the January 1, 1994, compliance date to July 1, 1995, effective April 25, 1994; P.A. 94-122
made technical changes, effective January 1, 1995; Sec. 36-27c transferred to Sec. 36a-317 in 1995.