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CT SB00282

Bill

Official Source

Status

Introduced

2/29/2024

Primary Sponsor

Banking Committee

Click for details

Origin

Senate

2024 General Assembly

AI Summary

  • Modifies the exemption from Banking Commissioner approval for bank real estate alterations or improvements on property already owned or leased by the bank
  • Banks are exempt from approval if they are adequately capitalized under 12 CFR 324.403 and not subject to pending formal enforcement actions by the Banking Commissioner or Federal Deposit Insurance Corporation
  • Alternatively, banks are exempt if annual expenditures for alterations or improvements do not exceed 5% of the bank's capital and surplus or $750,000, whichever is less
  • Takes effect October 1, 2024
  • Amends Connecticut General Statutes section 36a-250(a)(33)(A)

Legislative Description

An Act Concerning The Banking Commissioner's Approval Of Certain Bank Real Estate Improvements.

Last Action

Public Hearing 03/05

3/1/2024

Committee Referrals

Banking2/29/2024

Full Bill Text

No bill text available