Sec. 36a-298. (Formerly Sec. 36-106). Notice of withdrawals. - Connecticut Statutes

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Statutes > Connecticut > Title36a > Chap665a > Sec36a-298

      Sec. 36a-298. (Formerly Sec. 36-106). Notice of withdrawals. Notwithstanding any contrary provisions of its charter or bylaws:

      (1) Any Connecticut bank may require not more than three months' notice for the withdrawal of savings deposits or time deposits from such bank; provided, during the period when any such bank is operating with such notice requirement in force, it may, nevertheless, in its discretion, pay such amount or amounts to any depositor weekly or at other intervals as it deems prudent; and

      (2) In every case in which a notice of intention to withdraw moneys has been filed by a depositor, such notice is void and of no effect upon the actual withdrawal of the amount demanded and in any event shall be void one month after the expiration of the period specified therein.

      (1949 Rev., S. 5825; 1967, P.A. 461, S. 28; P.A. 92-12, S. 40; P.A. 94-122, S. 139, 340.)

      History: 1967 act deleted references to "savings departments" of state bank and trust companies; P.A. 92-12 redesignated Subsecs. and made technical changes; P.A. 94-122 extended to savings and loans the notice of deposit withdrawal provisions, deleted Subsec. lettering and relettered former Subsecs. (a) and (b) as Subdivs. (1) and (2), deleted Subsec. (c) and made technical changes, effective January 1, 1995; Sec. 36-106 transferred to Sec. 36a-298 in 1995.

      Annotation to former section 36-106:

      Cited. 142 C. 483.

State Codes and Statutes

Statutes > Connecticut > Title36a > Chap665a > Sec36a-298

      Sec. 36a-298. (Formerly Sec. 36-106). Notice of withdrawals. Notwithstanding any contrary provisions of its charter or bylaws:

      (1) Any Connecticut bank may require not more than three months' notice for the withdrawal of savings deposits or time deposits from such bank; provided, during the period when any such bank is operating with such notice requirement in force, it may, nevertheless, in its discretion, pay such amount or amounts to any depositor weekly or at other intervals as it deems prudent; and

      (2) In every case in which a notice of intention to withdraw moneys has been filed by a depositor, such notice is void and of no effect upon the actual withdrawal of the amount demanded and in any event shall be void one month after the expiration of the period specified therein.

      (1949 Rev., S. 5825; 1967, P.A. 461, S. 28; P.A. 92-12, S. 40; P.A. 94-122, S. 139, 340.)

      History: 1967 act deleted references to "savings departments" of state bank and trust companies; P.A. 92-12 redesignated Subsecs. and made technical changes; P.A. 94-122 extended to savings and loans the notice of deposit withdrawal provisions, deleted Subsec. lettering and relettered former Subsecs. (a) and (b) as Subdivs. (1) and (2), deleted Subsec. (c) and made technical changes, effective January 1, 1995; Sec. 36-106 transferred to Sec. 36a-298 in 1995.

      Annotation to former section 36-106:

      Cited. 142 C. 483.

State Codes and Statutes

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State Codes and Statutes

Statutes > Connecticut > Title36a > Chap665a > Sec36a-298

      Sec. 36a-298. (Formerly Sec. 36-106). Notice of withdrawals. Notwithstanding any contrary provisions of its charter or bylaws:

      (1) Any Connecticut bank may require not more than three months' notice for the withdrawal of savings deposits or time deposits from such bank; provided, during the period when any such bank is operating with such notice requirement in force, it may, nevertheless, in its discretion, pay such amount or amounts to any depositor weekly or at other intervals as it deems prudent; and

      (2) In every case in which a notice of intention to withdraw moneys has been filed by a depositor, such notice is void and of no effect upon the actual withdrawal of the amount demanded and in any event shall be void one month after the expiration of the period specified therein.

      (1949 Rev., S. 5825; 1967, P.A. 461, S. 28; P.A. 92-12, S. 40; P.A. 94-122, S. 139, 340.)

      History: 1967 act deleted references to "savings departments" of state bank and trust companies; P.A. 92-12 redesignated Subsecs. and made technical changes; P.A. 94-122 extended to savings and loans the notice of deposit withdrawal provisions, deleted Subsec. lettering and relettered former Subsecs. (a) and (b) as Subdivs. (1) and (2), deleted Subsec. (c) and made technical changes, effective January 1, 1995; Sec. 36-106 transferred to Sec. 36a-298 in 1995.

      Annotation to former section 36-106:

      Cited. 142 C. 483.