CT SB00906

Adds a new power to Connecticut banks' authority under section 36a-250(a), allowing them to organize an interim Connecticut bank for acquiring existing banks or facilitating other corporate transactions.

Interim Connecticut banks may be organized solely for bank acquisition purposes or to facilitate other corporate transactions as specified in section 36a-70(p).

Protects any bank acquisitions or corporate transactions entered into prior to October 1, 2011 from being invalidated by this legislation.

Effective date is October 1, 2011.