Sec. 36b-48. (Formerly Sec. 36-464). Administration by Banking Commissioner. Regulations. Exemptions.
Sec. 36b-48. (Formerly Sec. 36-464). Administration by Banking Commissioner. Regulations. Exemptions. (a) Sections 36b-40 to 36b-52, inclusive, shall be
administered by the commissioner who may exercise all powers granted to him under
sections 36a-11 to 36a-15, inclusive, 36a-19 to 36a-22, inclusive, 36a-65, 36a-215 and
36a-216 which are not inconsistent with said sections 36b-40 to 36b-52, inclusive.
(b) The commissioner may make regulations necessary to carry out the purposes
of sections 36b-40 to 36b-52, inclusive, including, but not limited to, rules defining
fraudulent, deceptive or manipulative acts or practices.
(c) The commissioner may exempt from any provisions of sections 36b-40 to 36b-52, inclusive, tender offers which he determines are not made for the purpose or do not
have the effect of changing or influencing the control of a target company or where
compliance with said sections is deemed by him not to be necessary for the protection
of the security holders of the target company or other interested persons in this state and
he may similarly exempt any persons from the filing of statements under said sections.
(d) The commissioner may direct any person to file any statement provided for in
sections 36b-40 to 36b-52, inclusive, if it appears that such person is required to file
such statement and is delinquent in the filing of such statement.
(P.A. 76-362, S. 9, 14; P.A. 81-121, S. 6, 9.)
History: Sec. 36-347i transferred to Sec. 36-464 in 1979; P.A. 81-121 amended Subsec. (c) by adding "or other interested
persons in this state"; Sec. 36-464 transferred to Sec. 36b-48 in 1995.