State Codes and Statutes

Statutes > Connecticut > Title36a > Chap664b > Sec36a-120

      Sec. 36a-120. (Formerly Sec. 36-29g). Reserves for Connecticut banks and Connecticut credit unions. (a) The amount and form of reserve requirements for Connecticut banks and Connecticut credit unions shall be those provided in 12 USC Section 461 et seq., as from time to time amended, and any regulations issued thereunder.

      (b) Notwithstanding subsection (a) of this section, whenever, in the opinion of the commissioner, the protection of depositors of any or all Connecticut banks or Connecticut credit unions, or both, requires, the commissioner may order such banks and credit unions to maintain such reserves in an amount and in such form as the commissioner deems appropriate.

      (P.A. 81-128, S. 10; P.A. 94-122, S. 60, 340.)

      History: P.A. 94-122 made technical changes re reserve requirements, effective January 1, 1995; Sec. 36-29g transferred to Sec. 36a-120 in 1995.