Connecticut General Statutes 36a-368 – Maintenance in accord with written plan. Regulations re establishment and maintenance of collective managing agency accounts
Each collective managing agency account to be maintained by a Connecticut bank shall be established and maintained in accordance with a written plan which shall be approved by a resolution of the bank’s governing board and filed with the commissioner. The commissioner may adopt regulations in accordance with chapter 54 consistent with the provisions of sections 36a-350 to 36a-372, inclusive, governing the establishment and maintenance of collective managing agency accounts. The written plan shall contain appropriate provisions consistent with such regulations. Such account shall be established and maintained by a Connecticut bank only upon approval in writing by the commissioner and only to the extent permission to establish and maintain such accounts is granted national banking associations under applicable federal laws and regulations.
Terms Used In Connecticut General Statutes 36a-368
- Bank: means a Connecticut bank or a federal bank. See Connecticut General Statutes 36a-2
- 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
- Connecticut bank: means a bank and trust company, savings bank or savings and loan association chartered or organized under the laws of this state. See Connecticut General Statutes 36a-2
- Governing board: means the group of persons vested with the management of the affairs of a financial institution irrespective of the name by which such group is designated. See Connecticut General Statutes 36a-2