Connecticut General Statutes 36a-250a – Connecticut banks and Connecticut credit unions. Funds deposited by licensees and state agencies
Current as of: 2024 | Check for updates
|
Other versions
Any Connecticut bank or Connecticut credit union, each as defined in section 36a-2, may accept and store funds deposited by any entity licensed by the Department of Banking or any other state agency.
Terms Used In Connecticut General Statutes 36a-250a
- Bank: means a Connecticut bank or a federal bank. See Connecticut General Statutes 36a-2
- Connecticut credit union: means a cooperative, nonprofit financial institution that (A) is organized under chapter 667 and the membership of which is limited as provided in section 36a-438a, (B) operates for the benefit and general welfare of its members with the earnings, benefits or services offered being distributed to or retained for its members, and (C) is governed by a volunteer board of directors elected by and from its membership. See Connecticut General Statutes 36a-2
- State agency: has the meaning given to that term in 12 USC Section 3101, as amended from time to time. See Connecticut General Statutes 36a-2