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Can you summarize 36a CTGS Chapter 664c?
The Banking Law of Connecticut - Chapters 664 to 669 (Secs. 36a-1 to 36a-860a) > Fundamental Changes Involving Banks, Branches, Automated Teller Machines, Virtual Banking and Bank Holding Companies - Secs. 36a-125 to 36a-249
Short Summary
The legal documents reviewed cover a wide range of topics related to the banking industry in Connecticut. They provide guidelines and regulations for various activities such as mergers, consolidations, conversions, establishment and closure of branches, operation of automated teller machines (ATMs), virtual banking, and the organization and operation of bank holding companies. The documents outline the requirements, procedures, and approval processes for these activities, including the filing of necessary documents, compliance with relevant laws, and obtaining approvals from the commissioner. They also address the rights, obligations, and liabilities of the involved parties, such as constituent banks, resulting banks, shareholders, depositors, and creditors. The documents emphasize the importance of compliance with anti-money laundering laws and regulations, as well as the need for FDIC insurance before commencing business. The legal documents also mention the powers and duties of the commissioner, including the authority to appoint receivers or conservators for troubled banks or credit unions. Overall, these documents provide a comprehensive framework for the regulation and operation of banks, branches, ATMs, virtual banking, and bank holding companies in Connecticut.
Whom does it apply to?
Connecticut banks, federal banks, bank holding companies, branch offices, automated teller machines (ATMs), virtual banking institutions, mutual institutions, capital stock banks, and credit unions
What does it govern?
Merger, consolidation, conversion, establishment, operation, and closure of banks, branches, automated teller machines (ATMs), virtual banking, and bank holding companies in Connecticut
What are exemptions?
No specific exemptions are mentioned in these documents
What are the Penalties?
No specific penalties are mentioned in these documents
Jurisdiction
Connecticut