Substitute for Raised S.B. No. 1256
Session Year 2025

AN ACT CONCERNING THE ORGANIZATION, ADMINISTRATION AND RECEIVERSHIP OF CERTAIN FINANCIAL INSTITUTIONS.

To: (1) Increase the fee for investigating and processing an application for the organization of a Connecticut bank; (2) eliminate a factor considered in determining whether the public will be served to advantage by the establishment of a proposed Connecticut bank; (3) increase the amount of assets on deposit that trust banks and innovation banks are required to keep; (4) eliminate a factor considered in determining whether to approve the relocation of a Connecticut bank's main office; (5) reduce the period of time during which written objections may be made to an application made by a bank or association for permission to change its name; and (6) modify the duty of a receiver for a Connecticut bank or Connecticut credit union.

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