CT SB01092

Modifies the automatic stay provisions in insurance company receivership proceedings to exempt Federal Home Loan Banks from the stay, allowing them to exercise rights under pledge, security, credit, loan, advance, reimbursement, or guarantee agreements.

Adds an exception to fraudulent transfer avoidance provisions so that transfers or obligations involving Federal Home Loan Banks cannot be avoided by a receiver unless made with actual intent to hinder, delay, or defraud.

Exempts preferences arising under Federal Home Loan Bank agreements from being avoided by a liquidator, preventing the receiver from recovering such preferential transfers.

All amendments take effect on October 1, 2013 and apply to sections 38a-907, 38a-928, and 38a-930 of the general statutes governing insurance company rehabilitation and liquidation.