CT SB00800

Extends the maximum maturity period for credit union mortgage loans secured by a subordinate lien or financing a manufactured home from twenty years to twenty-five years.

Modifies the credit union bylaw amendment approval process to remove the requirement that the commissioner must endorse and return the approved amendment to the credit union.

Requires Connecticut banks to file with the banking commissioner not only the signed audit report, but also written communications regarding audit committee matters and written communications noting significant deficiencies and material weaknesses in internal controls.

All changes take effect upon passage and apply to the 2017 legislative session.