Conn. Gen. Stat. ch. 667 – Credit Unions | Midpage

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Connecticut General Statutes

Chapter 667

Conn. Gen. Stat. ch. 667

Credit Unions

36a-435aShort title: Connecticut Credit Union Act.36a-435bDefinitions.36a-436aFranchise and filing fee payable to the Secretary of the State.36a-436bIssuance of certificate of authority to engage in business of Connecticut credit union.36a-437aOrganization.36a-438aField of membership. Expansion. Change in field of membership.36a-439aMembership applications. Expulsion of member.36a-440aMeetings.36a-440bFinancial and statistical reports and other information. Records.36a-441aLoan and lease losses account. Net worth requirement.36a-442aDeposit of funds; withdrawals. Bond requirement.36a-448aGoverning board powers.36a-449aMeetings of governing board.36a-450aExecutive committee.36a-451aSupervisory committee. Members. Powers. Duties.36a-452aCredit committee. Credit manager. Loan officer.36a-454aBenefits for Connecticut credit union employees and their families. Liability or indemnity coverage for directors, credit committee members and supervisory committee members.36a-454bConflict of interest policy. Prohibitions re insiders and family members of insiders.36a-455aPowers.36a-455bTransfer of assets or business. Sale of branch. Acquisition of assets or business of federal credit union.36a-456aShares; secondary capital accounts; share insurance.36a-456bTax and loan and note accounts.36a-456cDividends.36a-457aLoan policy.36a-457bMortgage loans to members.36a-458aLoans. Definitions.36a-459aInvestment policy.36a-460aCorporate Connecticut credit union.36a-461aCredit union service organizations.36a-462aEstablishment of branch in this state or outside state by Connecticut credit union. Application.36a-462bEstablishment of branch in this state by out-of-state, state-chartered credit union. Expansion of field of membership.36a-463aAudit report and net worth restoration plan by out-of-state, state-chartered or federally-chartered credit union that maintains branch in this state.36a-463bRelocation of main office of Connecticut credit union with approval of commissioner.36a-468aMergers.36a-468bConversion of Connecticut credit union into federal credit union.36a-469bConversion of federal or out-of-state credit union into Connecticut credit union.36a-469cConversion of Connecticut or federal credit union into mutual savings bank, mutual savings and loan association or mutual community bank.36a-470aTermination.36a-471aRegulations re conduct of Connecticut credit unions, enforcement of chapter and establishment of rates paid as dividends.36a-472aNo exemption from taxation.36a-476Compliance with federal Currency and Foreign Transactions Reporting Act.36a-477 to 36a-484Conn. Gen. Stat. § 36a-477 to 36a-484