Connecticut Seal

General Assembly

File No. 143

    January Session, 2015

Substitute Senate Bill No. 924

Senate, March 23, 2015

The Committee on Banking reported through SEN. WINFIELD of the 10th Dist., Chairperson of the Committee on the part of the Senate, that the substitute bill ought to pass.

T1

"Account". Sections 36a-155 and 36a-365.

T2

"Additional proceeds". Section 36a-746e.

T3

"Administrative expense". Section 36a-237.

T4

"Advance fee". Sections 36a-485 and 36a-615.

T5

"Advertise", "advertisement" or "advertising". Section 36a-485.

T6

"Agency bank". Section 36a-285.

T7

"Agent". Section 36a-494.

T8

"Alternative mortgage loan". Section 36a-265.

T9

"Amount financed". Section 36a-690, as amended by this act.

T10

"Annual percentage rate". Section 36a-690, as amended by this act.

T11

"Annual percentage yield". Section 36a-316.

T12

"Annuities". Section 36a-455a.

T13

"Applicant". Section 36a-736.

T14

"APR". Section 36a-746a, as amended by this act.

T15

"Assessment area". Section 36a-37.

T16

"Assets". Section 36a-70.

T17

"Associate". Section 36a-184.

T18

"Associated member". Section 36a-458a.

T19

"Authorized delegate". Section 36a-596.

T20

"Bank". Section 36a-30.

T21

"Bankers' bank". Section 36a-70.

T22

"Banking business". Section 36a-425.

T23

"Basic services". Section 36a-437a.

T24

"Billing cycle". Section 36a-565.

T25

"Bona fide nonprofit organization". Sections 36a-487, as amended by

T26

this act, and 36a-655.

T27

"Branch". Sections 36a-145, 36a-410 and 36a-435b.

T28

"Branch office". Sections 36a-485 and 36a-715.

T29

"Branch or agency net payment entitlement". Section 36a-428n.

T30

"Branch or agency net payment obligation". Section 36a-428n.

T31

"Broker". Section 36a-746a, as amended by this act.

T32

"Business and industrial development corporation". Section 36a-626.

T33

"Business and property in this state". Section 36a-428n.

T34

"Capital". Section 36a-435b.

T35

"Cash advance". Section 36a-564.

T36

"Cash price". Section 36a-770, as amended by this act.

T37

"Certificate of incorporation". Section 36a-435b.

T38

"CHFA loan". Section 36a-760, as amended by this act.

T39

"Clerical or support duties". Section 36a-485.

T40

"Closely related activities". Sections 36a-250 and 36a-455a.

T41

"Collective managing agency account". Section 36a-365.

T42

"Commercial vehicle". Section 36a-770, as amended by this act.

T43

"Community bank". Section 36a-70.

T44

"Community credit union". Section 36a-37.

T45

"Community development bank". Section 36a-70.

T46

"Community reinvestment performance". Section 36a-37.

T47

"Connecticut holding company". Sections 36a-53 and 36a-410.

T48

"Consolidate". Section 36a-145.

T49

"Construction loan". Section 36a-458a.

T50

"Consumer". Sections 36a-155 [, 36a-676] and 36a-695.

T51

"Consumer Credit Protection Act". Section 36a-676, as amended by this

T52

act.

T53

"Consumer debtor" and "debtor". Sections 36a-645 and 36a-800, as

T54

amended by this act.

T55

"Consumer collection agency". Section 36a-800, as amended by this act.

T56

"Consummation". Section 36a-746a, as amended by this act.

T57

"Control person". Section 36a-485.

T58

"Controlling interest". Section 36a-276.

T59

"Conventional mortgage rate". Section 36a-760, as amended by this act.

T60

"Corporate". Section 36a-435b.

T61

"Credit". [Sections] Section 36a-645. [and 36a-676.]

T62

"Credit manager". Section 36a-435b.

T63

"Creditor". Sections 36a-676, as amended by this act, 36a-695 and

T64

36a-800, as amended by this act.

T65

["Credit card", "cardholder" and "card issuer". Section 36a-676.]

T66

"Credit clinic". Section 36a-700.

T67

"Credit rating agency". Section 36a-695.

T68

"Credit report". Section 36a-695.

T69

["Credit sale". Section 36a-676.]

T70

"Credit union service organization". Section 36a-435b.

T71

"Credit union service organization services". Section 36a-435b.

T72

"De novo branch". Section 36a-410.

T73

"Debt". Section 36a-645.

T74

"Debt adjustment". Section 36a-655.

T75

"Debt mutual fund". Sections 36a-275 and 36a-459a.

T76

"Debt securities". Sections 36a-275 and 36a-459a.

T77

"Debtor". Section 36a-655.

T78

"Deliver". Section 36a-316.

T79

"Deposit". Section 36a-316.

T80

"Deposit account". Section 36a-316.

T81

"Deposit account charge". Section 36a-316.

T82

"Deposit account disclosures". Section 36a-316.

T83

"Deposit contract". Section 36a-316.

T84

"Deposit services". Section 36a-425.

T85

"Depositor". Section 36a-316.

T86

"Depository institution". Section 36a-485.

T87

"Derivative transaction". Section 36a-262.

T88

"Director". Section 36a-435b.

T89

"Dwelling". Section 36a-485.

T90

"Earning period". Section 36a-316.

T91

"Electronic payment instrument". Section 36a-596.

T92

"Eligible collateral". Section 36a-330.

T93

"Eligible entity". Section 36a-34.

T94

"Employee". Section 36a-485.

T95

"Entity". Section 36a-380.

T96

"Equity mutual fund". Sections 36a-276 and 36a-459a.

T97

"Equity security". Sections 36a-276 and 36a-459a.

T98

"Executive officer". Sections 36a-263 and 36a-469c.

T99

"Expedited Connecticut bank". Section 36a-70.

T100

"Experience in the mortgage business". Section 36a-488.

T101

"Federal banking agency". Section 36a-485.

T102

"Federal Credit Union Act". Section 36a-435b.

T103

"Federal Home Mortgage Disclosure Act". Section 36a-736.

T104

"FHA loan". Section 36a-760, as amended by this act.

T105

"Fiduciary". Section 36a-365.

T106

"Filing fee". Section 36a-770, as amended by this act.

T107

"Finance charge". Sections 36a-690, as amended by this act, and 36a-

T108

770, as amended by this act.

T109

"Financial institution". Sections 36a-41, 36a-44a, 36a-155, 36a-316,

T110

36a-330, 36a-435b, 36a-736 and 36a-755.

T111

"Financial records". Section 36a-41.

T112

"First mortgage loan". Sections 36a-485, 36a-705 and 36a-725.

T113

"Foreign banking corporation". Section 36a-425.

T114

"Fully indexed rate". Section 36a-760b.

T115

"General facility". Section 36a-580.

T116

"Global net payment entitlement". Section 36a-428n.

T117

"Global net payment obligation". Section 36a-428n.

T118

"Goods". Sections 36a-535 and 36a-770, as amended by this act.

T119

"Graduated payment mortgage loan". Section 36a-265.

T120

"Guardian". Section 36a-365.

T121

"High cost home loan". Section 36a-746a, as amended by this act.

T122

"Holder". Section 36a-596.

T123

"Home banking services". Section 36a-170, as amended by this act.

T124

"Home banking terminal". Section 36a-170, as amended by this act.

T125

"Home improvement loan". Section 36a-736.

T126

"Home purchase loan". Section 36a-736.

T127

"Home state". Section 36a-410.

T128

"Housing finance agency". Section 36a-487, as amended by this act.

T129

"Immediate family member". Sections 36a-435b and 36a-485.

T130

"Independent contractor". Section 36a-485.

T131

"Individual". Section 36a-485.

T132

"Insider". Section 36a-454b.

T133

"Installment loan contract". Sections 36a-535 and 36a-770, as amended

T134

by this act.

T135

"Insurance". Section 36a-455a.

T136

"Insurance bank". Section 36a-285.

T137

"Insurance department". Section 36a-285.

T138

"Interest". Section 36a-316.

T139

"Interest rate". Section 36a-316.

T140

"Interim interest". Section 36a-746a, as amended by this act.

T141

"Investments". Section 36a-602.

T142

"Lender". Sections 36a-746a, as amended by this act, 36a-760, as

T143

amended by this act, and 36a-770, as amended by this act.

T144

"Lessor". Section 36a-676, as amended by this act.

T145

"License". Section 36a-626.

T146

"Licensee". Sections 36a-596, 36a-607 and 36a-626.

T147

"Limited branch". Section 36a-145.

T148

"Limited facility". Section 36a-580.

T149

"Loan broker". Section 36a-615.

T150

"Loan processor or underwriter". Section 36a-485.

T151

"Loss". Section 36a-330.

T152

"Made in this state". Section 36a-770, as amended by this act.

T153

"Main office". Section 36a-485.

T154

"Managing agent". Section 36a-365.

T155

"Manufactured home". Section 36a-457b.

T156

"Material litigation". Section 36a-598.

T157

"Member". Section 36a-435b.

T158

"Member business loan". Section 36a-458a.

T159

"Member in good standing". Section 36a-435b.

T160

"Membership share". Section 36a-435b.

T161

"Mobile branch". Sections 36a-145 and 36a-435b.

T162

"Monetary value". Section 36a-596.

T163

"Money transmission". Section 36a-596.

T164

"Mortgage". Section 36a-760g.

T165

"Mortgage broker". Sections 36a-485, 36a-705 and 36a-760, as amended

T166

by this act.

T167

"Mortgage correspondent lender". Section 36a-485.

T168

"Mortgage insurance". Section 36a-725.

T169

"Mortgage lender". Sections 36a-485, 36a-705 and 36a-725.

T170

"Mortgage loan". Sections 36a-261, 36a-265, 36a-457b and 36a-736.

T171

"Mortgage loan originator". Section 36a-485.

T172

"Mortgage rate lock-in". Section 36a-705.

T173

"Mortgage servicer". Section 36a-715.

T174

"Mortgagee". Section 36a-715.

T175

"Mortgagor". Section 36a-715.

T176

"Motor vehicle". Section 36a-770, as amended by this act.

T177

"Multiple common bond membership". Section 36a-435b.

T178

"Municipality". Section 36a-800, as amended by this act.

T179

"Net outstanding member business loan balance". Section 36a-458a.

T180

"Net worth". Sections 36a-441a and 36a-458a.

T181

"Network". Section 36a-155.

T182

"Nonprime home loan". Section 36a-760, as amended by this act.

T183

"Nonrefundable". Section 36a-498.

T184

"Nontraditional mortgage product". Section 36a-489a.

T185

"Note account". Sections 36a-301 and 36a-456b.

T186

"Office". Sections 36a-23, 36a-316 and 36a-485.

T187

"Officer". Section 36a-435b.

T188

["Open-end credit plan". Section 36a-676.]

T189

"Open-end line of credit". Section 36a-760, as amended by this act.

T190

"Open-end loan". Section 36a-565.

T191

"Organization". Section 36a-800, as amended by this act.

T192

"Out-of-state holding company". Section 36a-410.

T193

"Outstanding". Section 36a-596.

T194

"Passbook savings account". Section 36a-316.

T195

"Payment instrument". Section 36a-596.

T196

"Periodic statement". Section 36a-316.

T197

"Permissible investment". Section 36a-596.

T198

"Person". Sections 36a-184 and 36a-485.

T199

"Post". Section 36a-316.

T200

"Prepaid finance charge". Section 36a-746a, as amended by this act.

T201

"Prime quality". Section 36a-596.

T202

"Principal amount of the loan". Section 36a-485.

T203

"Processor". Section 36a-155.

T204

"Public deposit". Section 36a-330.

T205

"Purchaser". Section 36a-596.

T206

"Qualified financial contract". Section 36a-428n.

T207

"Qualified public depository" and "depository". Section 36a-330.

T208

"Real estate". Section 36a-457b.

T209

"Real estate brokerage activity". Section 36a-485.

T210

"Records". Section 36a-17.

T211

"Registered mortgage loan originator". Section 36a-485.

T212

"Related person". Section 36a-53.

T213

"Relocate". Sections 36a-145 and 36a-462a.

T214

"Residential mortgage loan". Section 36a-485.

T215

"Residential real estate". Section 36a-485.

T216

"Resulting entity". Section 36a-34.

T217

"Retail buyer". Sections 36a-535 and 36a-770, as amended by this act.

T218

"Retail credit transaction". Section 42-100b.

T219

"Retail installment contract". Sections 36a-535 and 36a-770, as amended

T220

by this act.

T221

"Retail installment sale". Sections 36a-535 and 36a-770, as amended by

T222

this act.

T223

"Retail seller". Sections 36a-535 and 36a-770, as amended by this act.

T224

"Reverse annuity mortgage loan". Section 36a-265.

T225

"Sales finance company". Sections 36a-535 and 36a-770, as amended by

T226

this act.

T227

"Savings department". Section 36a-285.

T228

"Savings deposit". Section 36a-316.

T229

"Secondary mortgage loan". Section 36a-485.

T230

"Security convertible into a voting security". Section 36a-184.

T231

"Senior management". Section 36a-435b.

T232

"Settlement agent". Section 36a-494.

T233

"Share". Section 36a-435b.

T234

"Simulated check". Section 36a-485.

T235

"Single common bond membership". Section 36a-435b.

T236

"Special mortgage". Section 36a-760c.

T237

"Social purpose investment". Section 36a-277.

T238

"Sponsored". Section 36a-485.

T239

"Standard mortgage loan". Section 36a-265.

T240

"Stored value". Section 36a-596.

T241

"Table funding agreement". Section 36a-485.

T242

"Tax and loan account". Sections 36a-301 and 36a-456b.

T243

"The Savings Bank Life Insurance Company". Section 36a-285.

T244

"Time account". Section 36a-316.

T245

"Travelers check". Section 36a-596.

T246

"Troubled Connecticut credit union". Section 36a-448a.

T247

"Unique identifier". Section 36a-485.

T248

"Unsecured loan". Section 36a-615.

T249

"Value". Section 36a-603.

T250

"Warehouse agreement". Section 36a-485.

This act shall take effect as follows and shall amend the following sections:

Section 1

October 1, 2015

36a-675

Sec. 2

October 1, 2015

36a-676

Sec. 3

October 1, 2015

36a-677

Sec. 4

October 1, 2015

36a-678

Sec. 5

October 1, 2015

36a-679

Sec. 6

October 1, 2015

36a-680

Sec. 7

October 1, 2015

36a-681

Sec. 8

October 1, 2015

36a-682

Sec. 9

October 1, 2015

36a-683

Sec. 10

October 1, 2015

36a-684

Sec. 11

October 1, 2015

New section

Sec. 12

October 1, 2015

36a-3

Sec. 13

October 1, 2015

36a-555

Sec. 14

October 1, 2015

42-133c(a)

Sec. 15

October 1, 2015

42-133d

Sec. 16

October 1, 2015

36a-746a

Sec. 17

October 1, 2015

36a-760(a)

Sec. 18

October 1, 2015

36a-563(b)

Sec. 19

October 1, 2015

36a-690

Sec. 20

October 1, 2015

36a-770(c)(13)

Sec. 21

October 1, 2015

36a-771(b)

Sec. 22

October 1, 2015

36a-772(c)

Sec. 23

October 1, 2015

36a-774

Sec. 24

October 1, 2015

36a-440b(a)

Sec. 25

October 1, 2015

36a-82(c)

Sec. 26

October 1, 2015

36a-86(a)

Sec. 27

from passage

36a-170

Sec. 28

from passage

36a-185(c)

Sec. 29

from passage

36a-492

Sec. 30

from passage

36a-487(d)

Sec. 31

from passage

36a-59(b)

Sec. 32

from passage

36a-412(a)(4)(A)

Sec. 33

from passage

36a-800

Sec. 34

from passage

36a-801

Sec. 35

from passage

36a-804

Sec. 36

from passage

36a-805(a)

Sec. 37

from passage

36a-810

BA

Joint Favorable Subst.

 

Yea

17

Nay

0

(03/05/2015)

TOP