Loading chat...

CT SB00122

Bill

Official Source

Status

Introduced

2/15/2024

Primary Sponsor

Banking Committee

Click for details

Origin

Senate

2024 General Assembly

AI Summary

  • Redefines "community credit union" in section 3-24j(2) of Connecticut General Statutes for purposes of the community bank and community credit union program established by the State Treasurer
  • Removes requirement that community credit unions be organized under chapter 667
  • Requires community credit unions to have a field of membership limited as provided in section 36a-438a
  • Maintains requirements that community credit unions operate for member benefit and welfare with earnings distributed to or retained for members, and be governed by a volunteer board of directors elected by and from membership
  • Effective date: July 1, 2024

Legislative Description

An Act Concerning The Community Bank And Community Credit Union Program.

Last Action

Public Hearing 02/20

2/16/2024

Committee Referrals

Banking2/15/2024

Full Bill Text

No bill text available