OLR Bill Analysis

HB 6499

AN ACT CONCERNING CONNECTICUT BANKS

SUMMARY:

This bill authorizes Connecticut banks to organize interim banks in order to acquire existing banks or make other corporate transactions possible. Current law already allows one or more people to organize an interim bank for the same purposes. The bill specifies that this new provision does not invalidate or otherwise affect acquisitions or transactions entered into before October 1, 2003.

EFFECTIVE DATE: October 1, 2003

COMMITTEE ACTION

Banks Committee

Joint Favorable Report