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CT HB06877
Bill
Status
5/29/2025
Primary Sponsor
Banking Committee
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AI Summary
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Amends Section 36a-250 of Connecticut General Statutes to expand exemptions from Banking Commissioner approval for bank real estate alterations and improvements
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Banks can alter or improve already-owned or leased property without commissioner approval if adequately capitalized under federal standards (12 CFR 324.403) and not subject to pending enforcement actions by the commissioner or FDIC
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Alternatively, approval is waived if annual expenditures for alterations do not exceed 5% of the bank's capital and surplus or $750,000, whichever is less
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Effective date: October 1, 2025
Legislative Description
An Act Concerning The Banking Commissioner's Approval Of Certain Bank Real Estate Improvements And Alterations.
Last Action
Signed by the Governor
5/29/2025