Sec. 36a-59. Authority of commissioner to enter into various agreements, stipulations and memoranda of understanding. - Connecticut Statutes

      Sec. 36a-59. Authority of commissioner to enter into various agreements, stipulations and memoranda of understanding. (a) The commissioner may enter into one or more stipulations and agreements or memoranda of understanding with a Connecticut bank, either alone or in conjunction with the Federal Deposit Insurance Corporation or its successor agency, or may enter into one or more letters of understanding and agreement or memoranda of understanding with a Connecticut credit union or Connecticut credit union service organization, either alone or in conjunction with the National Credit Union Administration or its successor agency, if the commissioner finds as a result of an examination or investigation that the Connecticut bank, Connecticut credit union or Connecticut credit union service organization: (1) Has failed to file a report when due, (2) is insolvent, (3) has violated any provisions of the general statutes within the jurisdiction of the commissioner, or any regulation, rule or order adopted or issued thereunder, or (4) has engaged or participated in, or is engaging or participating in, any unsafe and unsound practice.

      (b) The commissioner may enter into cooperative, coordinating or information-sharing agreements with any other state or federal supervisory agency or any organization affiliated with or representing such supervisory agency with respect to the examination, examination fees or other supervision of any person subject to the provisions of sections 36a-485 to 36a-810, inclusive. Any such agreement may include provisions concerning the assessment or sharing of fees for such examination or supervision.

      (P.A. 02-73, S. 5; P.A. 03-84, S. 44; P.A. 08-176, S. 79.)

      History: P.A. 03-84 changed "Commissioner of Banking" to "commissioner", effective June 3, 2003; P.A. 08-176 designated existing provisions as Subsec. (a) and added Subsec. (b) re cooperative, coordinating or information-sharing agreements, effective July 1, 2008.