Connecticut General Statutes 36a-626 – Definitions
Current as of: 2024 | Check for updates
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As used in sections 36a-625 to 36a-634, inclusive, unless the context otherwise requires:
Terms Used In Connecticut General Statutes 36a-626
- Commissioner: means the Banking Commissioner and, with respect to any function of the commissioner, includes any person authorized or designated by the commissioner to carry out that function. See Connecticut General Statutes 36a-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Loan: includes any line of credit or other extension of credit. See Connecticut General Statutes 36a-2
- Person: means an individual, company, including a company described in subparagraphs (A) and (B) of subdivision (12) of this section, or any other legal entity, including a federal, state or municipal government or agency or any political subdivision thereof. See Connecticut General Statutes 36a-2
(1) “Business and industrial development corporation” means a person approved or seeking approval by the federal Small Business Administration as a participating lender under its loan guarantee programs, which applies to the commissioner for a license in accordance with sections 36a-625 to 36a-634, inclusive.
(2) “License” means a license issued under sections 36a-625 to 36a-634, inclusive, authorizing a person to transact business as a business and industrial development corporation.
(3) “Licensee” means a person that is licensed under sections 36a-625 to 36a-634, inclusive.