Sec. 36a-111. Acquisition and disposal of own stock. - Connecticut Statutes

      Sec. 36a-111. Acquisition and disposal of own stock. Subject to the approval of the commissioner, a capital stock Connecticut bank may acquire and dispose of its own stock pursuant to section 33-684 provided no such acquisition shall reduce the bank's equity capital below the minimum for a capital stock Connecticut bank as required by section 36a-70.

      (P.A. 94-122, S. 58, 340; P.A. 96-271, S. 196, 254.)

      History: P.A. 94-122 effective January 1, 1995; P.A. 96-271 replaced reference to Sec. 33-358 with Sec. 33-684 and deleted provision re exclusion of restricted portion of bank's surplus from the bank's equity capital in computing the bank's loan and investment limitations, effective January 1, 1997.