Connecticut Laws - Title 36a The Banking Law Of Connecticut (Table of Contents)
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CHAPTER 664 GENERAL STATEMENT AND DEFINITIONS

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Sec. 36a-1. (Formerly Sec. 36-1). General statement.

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Sec. 36a-2. (Formerly Sec. 36-2). Definitions.

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Sec. 36a-3. Other defined terms.

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Secs. 36a-4 to 36a-9.

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CHAPTER 664a ADMINISTRATION AND ENFORCEMENT

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PART I BANKING COMMISSIONER. DEPARTMENT OF BANKING.

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Sec. 36a-10. General regulation-making authority.

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Sec. 36a-11. (Formerly Sec. 36-10). Appointment and restrictions.

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Sec. 36a-12. (Formerly Sec. 36-11). Employees. Restrictions.

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Sec. 36a-13. (Formerly Sec. 36-12b). Commissioner to submit estimates of expenditures.

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Sec. 36a-14. (Formerly Sec. 36-13). Reports to Governor and banks committee.

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Sec. 36a-14a. Quarterly report of revenue collected by department.

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Sec. 36a-15. (Formerly Sec. 36-14). Report of violations of law.

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Sec. 36a-16. (Formerly Sec. 36-63). Reports to commissioner; penalties.

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Sec. 36a-17. Investigations and examinations. Electronic data processing servicers. Subpoenas. Production of records.

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Sec. 36a-18. (Formerly Sec. 36-9f). Information re stock ownership or subscription.

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Sec. 36a-19. (Formerly Sec. 36-17). Accounting forms.

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Sec. 36a-20. (Formerly Sec. 36-19). Appraisal of real estate.

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Sec. 36a-21. (Formerly Sec. 36-16). Information to be confidential. Disclosure. Examination reports. Exemption.

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Sec. 36a-22. (Formerly Sec. 36-21a). Declaratory rulings.

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Sec. 36a-23. (Formerly Sec. 36-28a). Bank and credit union holidays. Closing of office in educational institution when not in session. Emergency closings. Opening of temporary offices or other facilities pursuant to an emergency or recovery operations. Temporary waiver of statutory or regulatory requirements.

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Sec. 36a-24. Hearings.

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Sec. 36a-24a. Failure of critical functions of computer-based information systems owned or used by depository institutions.

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Secs. 36a-25 to 36a-29.

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PART II COMMUNITY REINVESTMENT

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Sec. 36a-30. (Formerly Sec. 36-52a). Community reinvestment. General requirements.

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Sec. 36a-31. (Formerly Sec. 36-52b). Community reinvestment notice.

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Sec. 36a-32. (Formerly Sec. 36-52c). Assessment of banks. Factors to be considered. Community reinvestment performance evaluation.

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Sec. 36a-33. (Formerly Sec. 36-52d). Commissioner to prepare lists of banks.

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Sec. 36a-34. Findings of commissioner re Community Reinvestment Act compliance, consumer protection law compliance, adequacy of banking services to be provided and anticompetitive effects in connection with certain transaction approvals.

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Secs. 36a-35 and 36a-36.

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Sec. 36a-37. Community credit unions: Definitions.

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Sec. 36a-37a. Community reinvestment: General requirements.

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Sec. 36a-37b. Community reinvestment performance evaluation; copies.

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Sec. 36a-37c. Community reinvestment notice.

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Sec. 36a-37d. Community reinvestment performance; effects in connection with certain approvals.

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Sec. 36a-37e. Commissioner to prepare lists of credit unions.

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Secs. 36a-38 and 36a-39.

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PART III BANK RECORDS. DISCLOSURE OF RECORDS

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Sec. 36a-40. (Formerly Sec. 36-2a). Retention of Connecticut bank and credit union records.

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Sec. 36a-41. (Formerly Sec. 36-9j). Definitions.

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Sec. 36a-42. (Formerly Sec. 36-9k). Disclosure of financial records prohibited; exceptions.

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Sec. 36a-43. (Formerly Sec. 36-9l). Disclosure of financial records pursuant to lawful authority.

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Sec. 36a-44. (Formerly Sec. 36-9m). Exceptions re confidential treatment of customer records.

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Sec. 36a-44a. Customer protections. Compliance with Gramm-Leach-Bliley Financial Modernization Act.

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Sec. 36a-45. (Formerly Sec. 36-9n). Violations of financial records disclosure provisions.

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Secs. 36a-46 to 36a-49.

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PART IV VIOLATIONS OF THE BANKING LAWS

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Sec. 36a-50. Enforcement action. Notice and hearing. Civil penalty. Injunction, restraining order and writ. Restitution. Costs.

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Sec. 36a-51. Suspension, revocation or refusal to renew license.

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Sec. 36a-52. Cease and desist orders.

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Sec. 36a-53. (Formerly Sec. 36-25). Proceedings by commissioner upon violation of banking laws. Civil penalties.

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Sec. 36a-53a. False or misleading statements prohibited.

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Sec. 36a-53b. Prohibited activities of licensees or registrants.

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Sec. 36a-54. (Formerly Sec. 36-6). False entries by officials of financial institutions.

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Sec. 36a-55. (Formerly Sec. 36-7). Derogatory statements affecting banks, out-of-state banks or credit unions.

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Sec. 36a-56. (Formerly Sec. 36-7a). False statement or report or overvaluing land, property or security.

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Sec. 36a-56a. Use of name or trademark of bank or credit union prohibited in commercial advertisements that may mislead consumers. Enforcement action.

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Sec. 36a-57. (Formerly Sec. 36-8). Penalties for violation of banking law.

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Sec. 36a-58. (Formerly Sec. 36-9). Civil liability of officers.

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

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Secs. 36a-60 to 36a-64.

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PART V FEES AND CHARGES

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Sec. 36a-65. (Formerly Sec. 36-12a). Assessment of expenses of Department of Banking. State Banking Fund. Fees.

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Secs. 36a-66 to 36a-69.

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CHAPTER 664b CORPORATE ORGANIZATION AND ADMINISTRATION OF CONNECTICUT BANKS

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PART I ORGANIZATION

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Sec. 36a-70. (Formerly Sec. 36-53). Organization of Connecticut banks. Interim banks. Expedited Connecticut banks. Bankers' banks. Community banks. Community development banks. Uninsured banks.

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Sec. 36a-71. (Formerly Sec. 36-54). Franchise not transferable; forfeiture.

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Sec. 36a-72. (Formerly Sec. 36-61). General statutes to prevail.

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Sec. 36a-73. Applicability of title 33.

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Secs. 36a-74 to 36a-79.

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PART II CORPORATE FORM. ADMINISTRATION

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Sec. 36a-80. (Formerly Sec. 36-62). Bylaws. Amendment to certificate of incorporation.

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Sec. 36a-81. (Formerly Sec. 36-64). Relocation of main office.

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Sec. 36a-82. (Formerly Sec. 36-87). Change of name.

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Sec. 36a-83. (Formerly Sec. 36-90). Examination by shareholders.

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Sec. 36a-84. (Formerly Sec. 36-117a). Amendment of charter of mutual savings banks.

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Sec. 36a-85. (Formerly Sec. 36-175). Savings and loans' depositors' votes.

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Sec. 36a-86. (Formerly Sec. 36-128). Audit by accountants; governing board liability. Subsidiaries of holding companies; consolidated reports.

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Secs. 36a-87 to 36a-94.

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PART III DIRECTORS AND OFFICERS

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Sec. 36a-95. (Formerly Sec. 36-9c). Interlocking directors.

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Sec. 36a-96. (Formerly Sec. 36-9e). Bonds of officers and employees.

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Sec. 36a-97. (Formerly Sec. 36-9ee). Limitation on liability of directors of banks and credit unions.

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Sec. 36a-98. (Formerly Sec. 36-69). Compensation for attending committee meetings, auditing and appraising. Compensation to director or trustee for endorsing paper, recommending loans and selling Connecticut bank stocks and securities prohibited.

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Sec. 36a-99. (Formerly Sec. 36-121). Removal of corporator of a mutual savings bank.

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Sec. 36a-100. (Formerly Sec. 36-126b). Benefits for officers and employees.

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Sec. 36a-101. Oath or affirmation by directors.

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Sec. 36a-102. Identification of directors and officers.

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Secs. 36a-103 and 36a-104.

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PART IV SHARES AND DIVIDENDS

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Sec. 36a-105. (Formerly Sec. 36-88). Authorization and issuance of additional shares.

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Sec. 36a-106. (Formerly Sec. 36-89b). Preferred shares. Capital notes and debentures.

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Sec. 36a-107. Reduction of capital stock and change in par value.

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Sec. 36a-108. (Formerly Sec. 36-89a). Preemptive rights of holders of capital stock.

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Sec. 36a-109. Rights or options to purchase shares.

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Sec. 36a-110. Dividends.

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

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Sec. 36a-112. (Formerly Sec. 36-91). Voting restrictions.

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Secs. 36a-113 to 36a-119.

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PART V RESERVE REQUIREMENTS

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Sec. 36a-120. (Formerly Sec. 36-29g). Reserves for Connecticut banks and Connecticut credit unions.

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Secs. 36a-121 to 36a-124.

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CHAPTER 664c FUNDAMENTAL CHANGES INVOLVING BANKS, BRANCHES, AUTOMATED TELLER MACHINES, HOME BANKING AND BANK HOLDING COMPANIES

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PART I MERGER AND CONSOLIDATION

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Sec. 36a-125. (Formerly Sec. 36-193u). Merger and consolidation of Connecticut banks.

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Sec. 36a-126. Merger and consolidation of Connecticut banks with federal banks.

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Secs. 36a-127 to 36a-134.

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PART II CONVERSIONS

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Sec. 36a-135. Conversions of a mutual institution into another mutual institution.

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Sec. 36a-136. (Formerly Sec. 36-142m). Conversion of a mutual institution to a capital stock bank. Plan of conversion.

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Sec. 36a-137. Conversion of a capital stock bank into another capital stock bank.

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Sec. 36a-138. Conversion of a capital stock institution into a mutual institution.

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Sec. 36a-139. (Formerly Sec. 36a-252). Conversion of community banks to Connecticut banks.

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Sec. 36a-139a. (Formerly Sec. 36a-252a). Conversion of uninsured banks and trust banks.

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Sec. 36a-139b. Conversion to an uninsured bank.

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Secs. 36a-140 to 36a-144.

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PART III BRANCHES

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Sec. 36a-145. (Formerly Sec. 36-59). Branches, limited branches and mobile branches. Establishment, operation, conversion, closing, relocation, consolidation and sale.

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Secs. 36a-146 to 36a-154.

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PART IV AUTOMATED TELLER MACHINES, SATELLITE DEVICES

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Sec. 36a-155. (Formerly Sec. 36-193b). Establishment and use of automated teller machines, satellite devices and point of sale terminals.

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Sec. 36a-156. (Formerly Sec. 36-193c). Availability of automated teller machines, satellite devices and point of sale terminals.

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Sec. 36a-157. (Formerly Sec. 36-193d). Satellite device or point of sale terminal not branch or office.

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Sec. 36a-158. (Formerly Sec. 36-193f). Establishment and use of automated teller machines and point of sale terminals by out-of-state banks and out-of-state credit unions.

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Sec. 36a-159. (Formerly Sec. 36-193h). Transactions at point of sale terminals. Changes in transactions permitted.

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Secs. 36a-160 to 36a-169.

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PART V HOME BANKING

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Sec. 36a-170. (Formerly Sec. 36-9ff). Home banking services. Automated teller machine, satellite device, branch or office not deemed a home banking terminal.

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Secs. 36a-171 to 36a-179.

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PART VI BANK HOLDING COMPANIES

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Sec. 36a-180. (Formerly Sec. 36-418). Short title: Connecticut Bank Holding Company and Bank Acquisition Act.

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Sec. 36a-181. (Formerly Sec. 36-420). Organization of holding companies by capital stock Connecticut banks.

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Sec. 36a-182. (Formerly Sec. 36-421). Ownership of bank shares not to be considered as transacting banking business.

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Sec. 36a-183. (Formerly Sec. 36-422). Applicability and construction of sections 36a-180 to 36a-191, inclusive.

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Sec. 36a-184. (Formerly Sec. 36-423). Acquisition of beneficial ownership of voting securities of banks and holding companies. Contents of acquisition statement. Registration statement.

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Sec. 36a-185. (Formerly Sec. 36-425). Public hearing. Disapproval of plan. Adequacy of services, findings.

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Sec. 36a-186. (Formerly Sec. 36-426). Injunction against unlawful offer or acquisition. Seizure or sequestration of securities.

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Sec. 36a-187. (Formerly Sec. 36-427). Administration and enforcement.

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Sec. 36a-188. (Formerly Sec. 36-427a). Registration with commissioner. Reports and examinations.

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Sec. 36a-189. (Formerly Sec. 36-428). Appeal from commissioner.

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Sec. 36a-190. (Formerly Sec. 36-429). Excepted transactions.

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Sec. 36a-191. (Formerly Sec. 36-430). Severability.

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Sec. 36a-192. (Formerly Sec. 36-142aa). Reorganization of mutual savings banks and mutual savings and loan associations into mutual holding companies. Plan of reorganization.

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Sec. 36a-193. (Formerly Sec. 36-142bb). Reorganized savings institutions. Minimum equity capital requirement. Application. Certificate of authority.

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Sec. 36a-194. (Formerly Sec. 36-142cc). Powers.

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Sec. 36a-195. (Formerly Sec. 36-142dd). Issuance of preferred stock.

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Sec. 36a-196. (Formerly Sec. 36-142ee). Issuance of common stock.

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Sec. 36a-197. (Formerly Sec. 36-142ff). Conversion into stock holding company.

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Sec. 36a-198. (Formerly Sec. 36-142gg). Mutual holding company subsidiary holding company.

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Sec. 36a-199. (Formerly Sec. 36-142hh). Exemption from real estate conveyance taxes.

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Secs. 36a-200 to 36a-209.

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PART VII SALE OF ASSETS

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Sec. 36a-210. (Formerly Sec. 36-30). Transfer of assets.

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Secs. 36a-211 to 36a-214.

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PART VIII FAILURES, RECEIVERSHIPS AND CONSERVATORSHIPS

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Sec. 36a-215. (Formerly Sec. 36-22b). Powers re troubled trust banks and uninsured banks.

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Sec. 36a-216. (Formerly Sec. 36-22). Powers in case of financial distress.

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Sec. 36a-217. (Formerly Sec. 36-26). Establishment of maximum rate of dividends and interest. Regulations.

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Sec. 36a-218. (Formerly Sec. 36-31). Order to make good impairment of capital. Application for appointment of receiver.

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Sec. 36a-219. (Formerly Sec. 36-32). Restraining order. Appointment of conservator.

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Sec. 36a-220. (Formerly Sec. 36-34). Application for injunction, receiver or conservator in case of forfeited charter or certificate of authority, fraud, unsafe business practices, dissipation of assets, insolvency or termination of insurance of insurable accounts or deposits.

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Sec. 36a-221. (Formerly Sec. 36-35). Appointment of receiver or conservator on petition of shareholders.

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Sec. 36a-221a. Duties of receivers of trust banks and uninsured banks.

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Sec. 36a-222. Appointment of receiver or conservator for Connecticut banks and credit unions. Requirements. Division within department for liquidating or administering banks or credit unions. Appointment of agent. Reports. Salaries, costs and expenses. Exclusive jurisdiction of Superior Court. Admissibility of records.

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Sec. 36a-223. (Formerly Sec. 36-36). Duties of conservators and receivers for Connecticut banks and credit unions. Powers.

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Sec. 36a-224. (Formerly Sec. 36-37). Refinancing or reorganization of Connecticut banks and credit unions in receivership.

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Sec. 36a-225. (Formerly Sec. 36-38). Limitation of time for presenting claims to receiver. Receiver to publish notice in newspaper and mail individual notice to depositors, clients, creditors and safe deposit box holders.

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Sec. 36a-226. (Formerly Sec. 36-39). Duties of receiver re inventory and appraisal of assets of Connecticut banks and credit unions in receivership. Conversion of assets. Deposit of money.

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Sec. 36a-226a. Termination of contracts for bailment, deposit for hire or lease of safes, vaults or safe deposit boxes. Duties of receiver when property not removed.

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Sec. 36a-227. (Formerly Sec. 36-40). Dissolution of attachments and levies. Posting of notice of injunction or appointment of receiver.

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Sec. 36a-228. (Formerly Sec. 36-40a). Termination of executory contracts for services or advertising to which Connecticut banks and credit unions are a party. Validity of agreements that diminish interest of the estate in banks' and credit unions' assets.

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Sec. 36a-229. (Formerly Sec. 36-41). Immediate delivery of records and other property to receivers and conservators of Connecticut banks and credit unions. Copies. Penalty for neglect or refusal to deliver records and other property.

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Sec. 36a-230. (Formerly Sec. 36-43). Claims not barred by statute of limitations against receiver.

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Sec. 36a-231. (Formerly Sec. 36-44). Reports to be filed with Superior Court and commissioner. Payment of administrative expenses. Quarterly report. Objections. Audit of books and records of receivers of Connecticut banks and credit unions. Duties of receiver re audit.

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Sec. 36a-232. (Formerly Sec. 36-46). Creditor's application for order to receiver.

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Sec. 36a-233. (Formerly Sec. 36-47). Funds and property not subject to foreign attachment.

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Sec. 36a-234. (Formerly Sec. 36-48). Dissolution of injunction against receiver.

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Sec. 36a-235. (Formerly Sec. 36-49). Conditions under which transfers of or liens on property or assets of Connecticut banks and credit unions in receivership are voidable. Personal liability of persons who implemented or benefited from voidable transfers or liens. Issuance or levy of execution before final judgment prohibited.

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Sec. 36a-236. (Formerly Sec. 36-50). Final distribution of receivership accounts.

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Sec. 36a-237. (Formerly Sec. 36-51). Distribution of assets of any Connecticut bank, trust bank or uninsured bank. Order of priority. Distribution of assets of a Connecticut credit union in event of liquidation. Sequence of distribution.

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Secs. 36a-237a to 36a-237e.

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Sec. 36a-237f. Procedures re filing claims against the estate of trust banks and uninsured banks in receivership. Judgment. Appeal. Payment of claims.

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Sec. 36a-237g. Disposition of fiduciary records re fiduciary accounts of trust banks and uninsured banks.

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Sec. 36a-237h. Immunity for receivers and conservators of trust banks and uninsured banks and their employees.

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Sec. 36a-238. (Formerly Sec. 36-51a). Subrogation of Federal Deposit Insurance Corporation, National Credit Union Administration or successor agencies.

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Sec. 36a-239. (Formerly Sec. 36-52). Discharge of receiver or conservator.

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Secs. 36a-240 to 36a-249.

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CHAPTER 665 POWERS, LOANS AND INVESTMENTS

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PART I POWERS

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Sec. 36a-250. Powers of Connecticut banks.

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Sec. 36a-251. Transactions requiring commissioner's approval. Maximum aggregate investments.

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Sec. 36a-251a. Actions taken pursuant to commissioner's discretionary powers. Annual report.

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Secs. 36a-252 and 36a-252a.

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Secs. 36a-253 to 36a-259.

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PART II LOANS

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Sec. 36a-260. Loans. Loan policies. Loan review policies. Assessment of loan reviews.

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Sec. 36a-261. (Formerly Sec. 36-99). Mortgage loans.

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Sec. 36a-262. (Formerly Sec. 36-98b). Limitations on liabilities of any one obligor. Exemptions.

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Sec. 36a-263. Insider loans.

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Sec. 36a-264. (Formerly Sec. 36-68). Loans secured by own stock or stock of holding company prohibited. Exception.

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Sec. 36a-265. (Formerly Sec. 36-9g). Alternative mortgage loan.

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Sec. 36a-266. (Formerly Sec. 36-101). Investment in loans for repairs or reconstruction of property damaged by emergency.

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Secs. 36a-267 to 36a-274.

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PART III INVESTMENTS

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Sec. 36a-275. Investments in debt securities and debt mutual funds.

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Sec. 36a-276. Investments in equity securities and equity mutual funds.

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Sec. 36a-277. Social purpose investments.

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Secs. 36a-278 and 36a-279. Investment in commercial paper. Leeway.

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Sec. 36a-280. Investment policy of bank governing board. Review by board.

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Secs. 36a-281 to 36a-284.

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PART IV MISCELLANEOUS POWERS. LIMITATIONS

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Sec. 36a-285. (Formerly Sec. 36-142). Savings banks life insurance.

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Sec. 36a-286. Investments and loans held by Connecticut banks on January 1, 1995.

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Sec. 36a-287. Compliance with federal Currency and Foreign Transactions Reporting Act.

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Secs. 36a-288 and 36a-289.

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CHAPTER 665a DEPOSITS

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PART I DEPOSITS AND CHECKS

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Sec. 36a-290. (Formerly Sec. 36-3). Joint deposit and share accounts.

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Sec. 36a-291. (Formerly Sec. 36-113). Pledge of savings, share and time accounts in single or joint ownership.

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Sec. 36a-292. (Formerly Sec. 36-3a). Liability of survivor receiving payment on joint deposit account or share account.

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Sec. 36a-293. (Formerly Sec. 36-5). Adverse claim to deposit account or share account.

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Sec. 36a-294. (Formerly Sec. 36-114). Loss, theft or destruction of passbooks, certificates or instruments.

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Sec. 36a-295. (Formerly Sec. 36-76). Rendering of statement and delivery of passbook; accuracy and completeness presumed after seven years.

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Sec. 36a-296. (Formerly Sec. 36-110). Deposits or share accounts in trust.

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Sec. 36a-297. (Formerly Sec. 36-111). Deposits or share accounts of minors.

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

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Sec. 36a-299. (Formerly Sec. 36-9i). Permitted and prohibited transfers by negotiable withdrawal order.

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Sec. 36a-300. (Formerly Sec. 36-108). School savings deposits and time deposits.

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Sec. 36a-301. (Formerly Sec. 36-9q). Tax and loan accounts and note accounts.

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Sec. 36a-302. (Formerly Sec. 36-9v). Applicability of federal Expedited Funds Availability Act to banks and credit unions.

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Sec. 36a-303. (Formerly Sec. 36-9o). Charge for overdraft, when prohibited.

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Sec. 36a-304. (Formerly Sec. 36-9bb). Cashing of state checks. Fee prohibited. Liability for loss from wrongful payment.

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Sec. 36a-305. (Formerly Sec. 36-9cc). Regulations re cashing state checks.

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Sec. 36a-306. Connecticut banks and Connecticut credit unions to accept identification cards, when.

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Sec. 36a-307. (Formerly Sec. 36-9dd). Interest on savings deposit accounts.

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Secs. 36a-308 to 36a-314.

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PART II* DEPOSIT ACCOUNT CONTRACT ACT

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Sec. 36a-316. (Formerly Sec. 36-27b). Definitions.

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Sec. 36a-317. (Formerly Sec. 36-27c). Prohibited acts of financial institutions.

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Sec. 36a-317a. Charges for stop payment orders.

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Sec. 36a-317b. Check cashing. Adequate identification.

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Sec. 36a-318. (Formerly Sec. 36-27d). Copy of deposit account contract and schedule of charges and interest to be furnished to depositors. Exceptions. Notice requirements. Notice re imposition of dormancy fees on inactive deposit accounts.

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Sec. 36a-319. (Formerly Sec. 36-27e). Deposit account disclosures. List of charges.

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Sec. 36a-320. (Formerly Sec. 36-27f). Changes in deposit account charges. Notice.

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Sec. 36a-321. (Formerly Sec. 36-27g). Changes in computation of interest or interest rate. Notice.

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Sec. 36a-322. (Formerly Sec. 36-27h). Enforcement powers of commissioner.

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Sec. 36a-323. (Formerly Sec. 36-27i). Exceptions. Waivers.

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Secs. 36a-324 to 36a-329.

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PART III PROTECTION OF PUBLIC DEPOSITS

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Sec. 36a-330. (Formerly Sec. 36-382). Definitions.

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Sec. 36a-331. (Formerly Sec. 36-383). Protection of public deposits.

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Sec. 36a-332. (Formerly Sec. 36-385). Powers of commissioner.

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Sec. 36a-333. (Formerly Sec. 36-386). Collateral requirements.

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Sec. 36a-334. (Formerly Sec. 36-387). Procedure upon loss.

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Sec. 36a-335. (Formerly Sec. 36-388). Subrogation of commissioner to depositor's rights.

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Sec. 36a-336. (Formerly Sec. 36-389). Public deposits in qualified public depository or out-of-state bank.

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Sec. 36a-337. (Formerly Sec. 36-390). Securing of public deposits.

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Sec. 36a-338. (Formerly Sec. 36-391). Report of public depository.

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Secs. 36a-339 to 36a-349.

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CHAPTER 665b FIDUCIARY POWERS

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PART I POWERS IN GENERAL

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Sec. 36a-350. Permitted investments.

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Sec. 36a-351. (Formerly Sec. 36-9z). Investment of funds exceeding one thousand dollars in income-producing media; fee. Written policy. Fiduciary obligations satisfied.

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Sec. 36a-352. (Formerly Sec. 36-81). Segregation of trust funds. Registration; nominees.

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Sec. 36a-353. (Formerly Sec. 36-9w). Investments in certain investment companies or investment trusts.

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Secs. 36a-354 to 36a-364.

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PART II COMMON TRUST FUNDS

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Sec. 36a-365. (Formerly Sec. 36-83). Common trust funds: Definitions.

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Sec. 36a-366. Establishment by qualified fiduciary and investment of funds.

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Sec. 36a-367. Management.

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Sec. 36a-368. Maintenance in accord with written plan. Regulations re establishment and maintenance of collective managing agency accounts.

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Sec. 36a-369. Investment.

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Sec. 36a-370. Mortgages.

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Sec. 36a-371. Taxation.

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Sec. 36a-372. Investment in common trust funds by national banking associations and foreign corporations acting as executor or testamentary trustee.

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Secs. 36a-373 to 36a-379.

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PART III EXERCISE OF FIDUCIARY POWERS BY CORPORATIONS

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Sec. 36a-380. (Formerly Sec. 36-314). License.

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Sec. 36a-381. (Formerly Sec. 36-315). Exemptions.

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Sec. 36a-382. (Formerly Sec. 36-316). Examination; cost and fee.

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Sec. 36a-383. (Formerly Sec. 36-317). Procedure in case of failure to comply with cease and desist order or insolvency.

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Sec. 36a-384. (Formerly Sec. 36-318). Segregation of securities. Deposits.

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Sec. 36a-385. (Formerly Sec. 36-319). Name.

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Sec. 36a-386. (Formerly Sec. 36-319a). Planned Lifetime Assistance Network of Connecticut, Inc. Self-sufficiency trusts.

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Secs. 36a-387 to 36a-394.

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PART IV TRUSTEES UNDER MORTGAGE

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Sec. 36a-395. (Formerly Sec. 36-249). Application of provisions.

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Sec. 36a-396. (Formerly Sec. 36-250). Notice to commissioner. Examination. Fee.

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Sec. 36a-397. (Formerly Sec. 36-251). Records. Deposit of funds.

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Sec. 36a-398. (Formerly Sec. 36-252). Powers.

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Sec. 36a-399. (Formerly Sec. 36-253). Orders and injunctions. Death of trustee.

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Secs. 36a-400 to 36a-409.

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CHAPTER 666 OUT-OF-STATE BANKS

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PART I INTERSTATE BANKING

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Sec. 36a-410. (Formerly Sec. 36-552). Definitions.

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Sec. 36a-410a. Mergers between Connecticut and out-of-state banks authorized. Interstate branching.

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Sec. 36a-411. (Formerly Sec. 36-553). Out-of-state holding companies: Powers re interstate acquisitions and establishment of banks and Connecticut holding companies.

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Sec. 36a-412. (Formerly Sec. 36-555). Out-of-state banks: Mergers, consolidations and acquisitions. De novo branches. Powers of branches. Applicability of Connecticut law. Commissioner approval. When.

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Sec. 36a-413. (Formerly Sec. 36-558). Severability.

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Secs. 36a-414 to 36a-424.

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PART II FOREIGN BANKS

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Sec. 36a-425. (Formerly Sec. 36-5a). Foreign banking corporations not to do business in this state. Excepted activities.

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Sec. 36a-426. (Formerly Sec. 36-5g). Foreign banking corporations authorized to bring certain actions in the courts of this state.

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Sec. 36a-427.

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Sec. 36a-428a. Application for license to establish and maintain state branch or state agency. Application form, supporting documents, fee. Investigation by commissioner and issuance of license. Display of license. License may not be transferred or assigned.

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Sec. 36a-428b. Operation of foreign bank at state branch or state agency, rights, privileges, duties, restrictions, etc., exceptions. Deposit insurance from FDIC not required. Not subject to certain statutory provisions, when. Assessment for expenses of commissioner's office.

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Sec. 36a-428c. Deposit of assets by foreign bank. Holding of currency or other assets in relation to liabilities. Unusual and extraordinary circumstances; deposit of assets with banks designated by commissioner.

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Sec. 36a-428d. Certification of paid-in capital stock, surplus fund and undivided profits; limitation or restriction.

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Sec. 36a-428e. Conversion of state agency to state branch, state branch to state agency, and federal branch or federal agency to state branch or state agency.

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Sec. 36a-428f. Prior notice by foreign bank of change in its place of business, its corporate name and the business it proposes to do in this state.

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Sec. 36a-428g. Representative office; licensing requirements; application; fee; renewal; content of license; investigation of facts by commissioner. Foreign bank subject to regulations and orders of commissioner.

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Sec. 36a-428h. Books, accounts and records to be maintained and available at state branch, state agency or representative office. Reports to commissioner.

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Sec. 36a-428i. Notice of acquisition of control or merger of foreign bank.

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Sec. 36a-428j. Revocation, suspension or refusal to renew license to maintain state branch, state agency or representative office.

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Sec. 36a-428k. Voluntary liquidation of business and property of state branches and state agencies.

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Sec. 36a-428l. Investigation and examination concerning foreign bank licensed to maintain state branch, state agency or representative office. Commissioner's powers; duties of foreign bank; cost of examination; penalties.

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Sec. 36a-428m. Certain public officials and state employees barred from employment with Swiss Bank prior to January 1, 1996.

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Sec. 36a-428n. Involuntary liquidation of business and property of foreign banks having a state branch or state agency.

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Secs. 36a-429 to 36a-434.

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CHAPTER 666a OUT-OF-STATE TRUST COMPANIES

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Sec. 36a-434a. Establishment of offices by out-of-state trust companies.

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Sec. 36a-434b. Bond requirement.

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Sec. 36a-434c. Powers of commissioner re offices of out-of-state trust companies.

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Sec. 36a-434d. Notice to commissioner.

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CHAPTER 667* CREDIT UNIONS

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Sec. 36a-435. (Formerly Sec. 36-194). Definitions.

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Sec. 36a-435a. Short title: Connecticut Credit Union Act.

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Sec. 36a-435b. Definitions.

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Sec. 36a-436. (Formerly Sec. 36-195). License required.

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Sec. 36a-436a. Franchise and filing fee payable to the Secretary of the State.

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Sec. 36a-436b. Issuance of certificate of authority to engage in business of Connecticut credit union.

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Sec. 36a-437. (Formerly Sec. 36-196). Organization.

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Sec. 36a-437a. Organization.

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Sec. 36a-438. (Formerly Sec. 36-196a). Field of membership. Expansion. Membership applications. Continuation of membership. Expulsion or withdrawal of member.

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Sec. 36a-438a. Field of membership. Expansion. Change in field of membership.

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Sec. 36a-439. (Formerly Sec. 36-196c). Change in the field of membership.

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Sec. 36a-439a. Membership applications. Expulsion of member.

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Sec. 36a-440. (Formerly Sec. 36-196d). Central credit union.

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Sec. 36a-440a. Meetings.

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Sec. 36a-440b. Report to commissioner re assets and liabilities, list of members and officers. Records.

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Sec. 36a-441. (Formerly Sec. 36-198). Powers.

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Sec. 36a-441a. Loan and lease losses account. Net worth requirement.

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Sec. 36a-442. (Formerly Sec. 36-198b). Mortgage loans to members.

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Sec. 36a-442a. Deposit of funds; withdrawals. Bond requirement.

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Secs. 36a-443 to 36a-448. (Formerly Secs. 36-198c to 36-198e, 36-200, 36-202 and 36-203). Extension of lines of credit to members. Lien on shares of members. Tax and loan and note accounts. Shares; value; withdrawal; minors; trusts; retirement accounts; share insurance. Meetings. Governing board.

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Sec. 36a-448a. Governing board powers.

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Sec. 36a-449. (Formerly Sec. 36-203a). Governing board meetings.

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Sec. 36a-449a. Meetings of governing board.

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Sec. 36a-450. (Formerly Sec. 36-203b). Governing board powers. Committees.

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Sec. 36a-450a. Executive committee.

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Sec. 36a-451. (Formerly Sec. 36-203c). Executive committee.

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Sec. 36a-451a. Supervisory committee. Members. Powers. Duties.

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Sec. 36a-452. (Formerly Sec. 36-203d). Investment policy.

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Sec. 36a-452a. Credit committee. Credit manager. Loan officer.

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Secs. 36a-453 and 36a-454. (Formerly Secs. 36-204 and 36-204a). Officers. Benefits for Connecticut credit union employees and their families; liability or indemnity coverage for directors, credit committee members and supervisory committee members.

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Sec. 36a-454a. Benefits for Connecticut credit union employees and their families. Liability or indemnity coverage for directors, credit committee members and supervisory committee members.

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Sec. 36a-454b. Conflict of interest policy. Prohibitions re insiders and family members of insiders.

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Sec. 36a-455. (Formerly Sec. 36-205). Credit committee. Loans. Lines of credit.

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Sec. 36a-455a. Powers.

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Sec. 36a-455b. Transfer of assets or business. Sale of branch. Acquisition of assets or business of federal credit union.

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Sec. 36a-456. (Formerly Sec. 36-206). Loans. Interest on loans. Authorization of interest refunds. Security. Regulations.

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Sec. 36a-456a. Shares; secondary capital accounts; share insurance.

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Sec. 36a-456b. Tax and loan and note accounts.

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Sec. 36a-456c. Dividends.

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Sec. 36a-457. (Formerly Sec. 36-208). Supervisory committee. Members. Powers. Duties.

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Sec. 36a-457a. Loan policy.

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Sec. 36a-457b. Mortgage loans to members.

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Sec. 36a-458. (Formerly Sec. 36-209). Reserve requirements.

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Sec. 36a-458a. Loans. Definitions.

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Sec. 36a-459. (Formerly Sec. 36-210). Dividends.

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Sec. 36a-459a. Investment policy.

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Sec. 36a-460. (Formerly Sec. 36-211). Losses. Reduction of liabilities.

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Sec. 36a-460a. Corporate Connecticut credit union.

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Sec. 36a-461. (Formerly Sec. 36-213). Deposit of funds; withdrawals. Registration of securities; inspection. Bonding of officers, employees and authorized agents.

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Sec. 36a-461a. Credit union service organizations.

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Sec. 36a-462. (Formerly Sec. 36-214). Regulations re conduct of Connecticut credit unions, enforcement of chapter and establishment of rates paid as dividends.

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Sec. 36a-462a. Establishment of branch in this state or outside state by Connecticut credit union. Application.

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Sec. 36a-462b. Establishment of branch in this state by out-of-state, state-chartered credit union. Expansion of field of membership.

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Sec. 36a-463. (Formerly Sec. 36-215). Reports to commissioner. Net worth restoration plan. Records. Fees.

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Sec. 36a-463a. Audit report and net worth restoration plan by out-of-state, state-chartered or federally-chartered credit union that maintains branch in this state.

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Sec. 36a-463b. Relocation of main office of Connecticut credit union with approval of commissioner.

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Secs. 36a-464 to 36a-468. (Formerly Secs. 36-219 to 36-221, 36-223a). Termination. Distribution of assets upon liquidation. No exemption from taxation. License required of other entities. Conversion of Connecticut credit union into federal or out-of-state credit union.

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Sec. 36a-468a. Mergers.

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Sec. 36a-468b. Conversion of Connecticut credit union into federal credit union.

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Secs. 36a-469 (Formerly Sec. 36-223b) and 36a-469a. Conversion of federal or out-of-state credit union into Connecticut credit union. Conversion of Connecticut or federal credit union into mutual savings bank, mutual savings and loan association or mutual community bank.

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Sec. 36a-469b. Conversion of federal or out-of-state credit union into Connecticut credit union.

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Sec. 36a-469c. Conversion of Connecticut or federal credit union into mutual savings bank, mutual savings and loan association or mutual community bank.

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Sec. 36a-470. (Formerly Sec. 36-223c). Mergers.

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Sec. 36a-470a. Termination.

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Sec. 36a-471. (Formerly Sec. 36-223d). Sale of assets.

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Sec. 36a-471a. Regulations re conduct of Connecticut credit unions, enforcement of chapter and establishment of rates paid as dividends.

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Sec. 36a-472. (Formerly Sec. 36-223e). Out-of-state credit union doing business in this state.

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Sec. 36a-472a. No exemption from taxation.

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Secs. 36a-473 and 36a-474 (Formerly Secs. 36-223f and 36-224), and 36a-475. Reports and examination of out-of-state credit unions doing business in this state; net worth restoration plan; revocation or suspension of approval. Exceptions. Credit union service organizations; shared service centers.

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Sec. 36a-476. Compliance with federal Currency and Foreign Transactions Reporting Act.

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Secs. 36a-477 to 36a-484.

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CHAPTER 668 NONDEPOSITORY FINANCIAL INSTITUTIONS

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PART I MORTGAGE LENDERS, CORRESPONDENT LENDERS, BROKERS AND LOAN ORIGINATORS

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Sec. 36a-485. (Formerly Sec. 36-440). Definitions.

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Sec. 36a-486. (Formerly Sec. 36-440a). Licenses required. Exemptions. Prohibited advertisements. Violations.

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Sec. 36a-487. (Formerly Sec. 36-440b). Exemptions from licensure.

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Sec. 36a-488. (Formerly Sec. 36-440c). Mortgage lender, mortgage correspondent lender and mortgage broker licenses. Requirements.

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Sec. 36a-489. (Formerly Sec. 36-440d). Licenses: Issuance; denial; renewal; financial responsibility; withdrawal or abandonment of application.

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Sec. 36a-489a. Prelicensing education, written test and annual continuing education requirements.

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Sec. 36a-490. (Formerly Sec. 36-440e). License requirements. Requirements for filing information with system.

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Sec. 36a-491. (Formerly Sec. 36-440f). Expiration of licenses. Applications for renewal. Fees.

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Sec. 36a-492. (Formerly Sec. 36-440g). Surety bond required. Cancellation of bond. Automatic suspension of license. Notices.

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Sec. 36a-493. (Formerly Sec. 36-440h). Records to be maintained by licensee.

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Sec. 36a-494. (Formerly Sec. 36-440i). Suspension, revocation or refusal to renew license or taking of other action. Removal from office and from employment or retention. Temporary order to cease business. Hearings.

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Sec. 36a-495. (Formerly Sec. 36-440j). Regulations.

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Sec. 36a-496. (Formerly Sec. 36-440k). Applications and referrals from unlicensed mortgage brokers or mortgage loan originators.

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Sec. 36a-497. (Formerly Sec. 36-440l). Advertisements.

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Sec. 36a-498. (Formerly Sec. 36-440m). Refundability of advance fees. Exceptions. Prohibited acts by mortgage lenders, correspondent lenders, brokers and loan originators re borrowers.

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Sec. 36a-498a. Prepaid finance charges; restrictions. Secondary mortgage loan; demand for payment prior to maturity; liability for noncompliance; deed.

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Sec. 36a-498b. Release of secondary mortgage. Notice of outstanding balance of obligation secured by secondary mortgage.

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Sec. 36a-498c. Adoption of mortgage loan policy with respect to subprime mortgage loans and nontraditional mortgage loans.

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Sec. 36a-498d. Unique identifier.

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Sec. 36a-498e. Prohibited acts.

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Sec. 36a-498f. Authority of commissioner re investigations and examinations. Prohibited acts by subjects of investigation or examination.

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Sec. 36a-498g. Severability.

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Secs. 36a-499 to 36a-509.

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Secs. 36a-510 to 36a-517. (Formerly Secs. 36-224a to 36-224h). Definitions. License required; violations. Persons exempt from license requirement. License as secondary mortgage lender, secondary mortgage correspondent lender or secondary mortgage broker; prerequisites; application for license; denial of application for license. License and processing fees; expiration of licenses; fees nonrefundable. License. Records to be maintained by licensee. Suspension, revocation or refusal to renew license or taking of other action.

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Sec. 36a-518. (Formerly Sec. 36-224i). Regulations.

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Secs. 36a-519 to 36a-524. (Formerly Secs. 36-224j to 36-224o). Prepayment penalties. Release of secondary mortgage; notice of loan balance. Limitation on prepaid finance charges; demand for payment prior to maturity; liability of mortgage lender to borrower for noncompliance; refundability of advance fees; exceptions; prohibited acts by mortgage lenders and secondary mortgage brokers re borrowers. Mortgage deeds. Applications and referrals from unlicensed secondary mortgage brokers or originators. Advertisements.

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Secs. 36a-525 to 36a-534.

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Sec. 36a-534a. Notice of discriminatory lending practices. Violation as grounds for license suspension, revocation or nonrenewal.

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Sec. 36a-534b. Participation in system. Authority of commissioner to establish requirements. Reports.

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Sec. 36a-534c. Annual reports re Nationwide Mortgage Licensing System.

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PART II* FINANCE COMPANIES

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Sec. 36a-536. (Formerly Sec. 36-255). License required.

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Sec. 36a-537. (Formerly Sec. 36-256a). Application.

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Sec. 36a-538. (Formerly Sec. 36-256b). Payment of cost of investigation.

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Sec. 36a-539. (Formerly Sec. 36-257). License fee. Automatic suspension of license. Notice. Opportunity for hearing.

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Sec. 36a-540. (Formerly Sec. 36-258). License.

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Sec. 36a-541. (Formerly Sec. 36-259a). Authority of commissioner to issue license or deny application for license. Withdrawal of application.

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Sec. 36a-542. (Formerly Sec. 36-259b). Renewal of license. Automatic suspension of license or renewal license. Notice. Opportunity for hearing.

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Sec. 36a-543. (Formerly Sec. 36-260a). Suspension, revocation or refusal to renew license or taking of other action. Enforcement powers of commissioner.

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Sec. 36a-544. (Formerly Sec. 36-260b). Regulations.

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Sec. 36a-545. (Formerly Sec. 36-262a). Books and records.

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Sec. 36a-546. (Formerly Sec. 36-263). Penalty.

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Secs. 36a-547 to 36a-554.

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PART III* SMALL LOAN LENDERS

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Sec. 36a-556. (Formerly Sec. 36-226). Requirements for granting license. Authority of commissioner to deny application for license. Withdrawal of application.

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Sec. 36a-557. (Formerly Sec. 36-227). Application. Withdrawal of application.

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Sec. 36a-558. (Formerly Sec. 36-228). Fees. Examination expenses. Automatic suspension of license or renewal license. Notice. Opportunity for hearing.

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Sec. 36a-559. (Formerly Sec. 36-229). Miscellaneous license provisions.

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Sec. 36a-560. (Formerly Sec. 36-230). Restriction on licensee. Separate license for each place of business. Surrender of license upon ceasing to engage in business of small loan lender.

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Sec. 36a-561. (Formerly Sec. 36-231). Conduct of business in association with other business.

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Sec. 36a-562. (Formerly Sec. 36-232). Change of location.

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Sec. 36a-563. (Formerly Sec. 36-233). Charges. Loan restrictions.

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Sec. 36a-564. (Formerly Sec. 36-233a). "Cash advance" defined.

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Sec. 36a-565. (Formerly Sec. 36-233b). Open-end loans. Annual percentage rate. Computation of interest. Loan charges. Credit life, accident and health insurance.

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Sec. 36a-566. (Formerly Sec. 36-234). Credit life and accident and health insurance.

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Sec. 36a-567. (Formerly Sec. 36-235). Prepayment of loan; receipts to borrower.

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Sec. 36a-568. (Formerly Sec. 36-236). Form of security restricted. Loan contract.

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Sec. 36a-569. (Formerly Sec. 36-237). Records. Reports to commissioner.

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Sec. 36a-570. (Formerly Sec. 36-239). Regulations.

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Sec. 36a-571. (Formerly Sec. 36-241). License suspension.

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Sec. 36a-572. (Formerly Sec. 36-242). Suspension, revocation or refusal to renew license or taking of other action.

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Sec. 36a-573. (Formerly Sec. 36-243). Charge of greater than legal interest. Enforcement.

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Secs. 36a-574 to 36a-579.

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PART IV CHECK CASHING SERVICES

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Sec. 36a-580. (Formerly Sec. 36-564). Definitions. Applicability of provisions.

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Sec. 36a-581. (Formerly Sec. 36-565). License required. Application. Authority of commissioner to deny application for license.

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Sec. 36a-582. (Formerly Sec. 36-566). License and location fees. Automatic suspension of license or renewal license. Notice. Opportunity for hearing. Expenses of examination.

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Sec. 36a-583. (Formerly Sec. 36-567). Posting of license. License not transferable or assignable. Surrender of license.

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Sec. 36a-584. (Formerly Sec. 36-568). Maximum fees for the cashing of state checks. Regulations. Maximum amount of check that may be cashed by check cashing licensee. Exceptions. Report.

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Sec. 36a-585. (Formerly Sec. 36-569). Maximum fees set by Banking Commissioner.

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Sec. 36a-586. (Formerly Sec. 36-570). Records to be maintained by check cashing licensee. Reporting requirements.

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Sec. 36a-587. (Formerly Sec. 36-571). Suspension, revocation or refusal to renew license or taking of other action. Hearings. Enforcement powers of commissioner.

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Sec. 36a-588. (Formerly Sec. 36-572). Regulations.

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Sec. 36a-589. (Formerly Sec. 36-573). Violations.

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Secs. 36a-590 to 36a-594.

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PART V PAYMENT INSTRUMENTS. MONEY TRANSMISSION

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Sec. 36a-595. (Formerly Sec. 36-530). Short title: Money Transmission Act.

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Sec. 36a-596. (Formerly Sec. 36-531). Definitions.

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Sec. 36a-597. (Formerly Sec. 36-532). License required. Penalty.

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Sec. 36a-598. (Formerly Sec. 36-533). Application. Notice to commissioner required.

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Sec. 36a-599. (Formerly Sec. 36-534). Investigation, license and name change fees. Term of license. Surrender of license.

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Sec. 36a-600. (Formerly Sec. 36-536). Investigation of applicant. Issuance of license. Authority of commissioner to deny application for license.

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Sec. 36a-601. (Formerly Sec. 36-537). Renewal of license. Automatic suspension of renewal license. Notice. Opportunity for hearing.

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Sec. 36a-602. (Formerly Sec. 36-538). Surety bond or investments required. Authority of commissioner to proceed on bond. Cancellation of surety bond. Notice of cancellation. Automatic suspension of license. Notice. Opportunity for hearing.

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Sec. 36a-603. (Formerly Sec. 36-539). Investments equal to amount of outstanding Connecticut payment instruments and stored value required. Permissible investments.

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Sec. 36a-604. (Formerly Sec. 36-540). Net worth requirements.

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Sec. 36a-605. (Formerly Sec. 36-541). Examination of licensees.

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Sec. 36a-606. (Formerly Sec. 36-542). Annual financial reports required.

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Sec. 36a-606a. Federal reporting requirements.

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Sec. 36a-607. (Formerly Sec. 36-543). Conduct of business by agent.

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Sec. 36a-608. (Formerly Sec. 36-544). Enforcement powers of commissioner.

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Sec. 36a-609. (Formerly Sec. 36-545). Exemptions.

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Sec. 36a-610. (Formerly Sec. 36-546). Regulations.

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Secs. 36a-611 to 36a-614.

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PART VI LOAN BROKERS

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Sec. 36a-615. (Formerly Sec. 36-577). Definitions.

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Sec. 36a-616. (Formerly Sec. 36-578). Advance fees imposed by loan brokers prohibited.

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Sec. 36a-617. (Formerly Sec. 36-580). Penalties for violations.

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Sec. 36a-618. (Formerly Sec. 36-581). Remedies.

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Sec. 36a-619. (Formerly Sec. 36-582). Remedies provided by sections 36a-615 to 36a-620, inclusive, not exclusive.

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Sec. 36a-620. (Formerly Sec. 36-583). Regulations.

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Secs. 36a-621 to 36a-624.

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PART VII CONNECTICUT BUSINESS AND INDUSTRIAL

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Sec. 36a-625. Short title: Connecticut Business and Industrial Development Corporation Act.

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Sec. 36a-626. Definitions.

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Sec. 36a-627. License required. Exemptions.

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Sec. 36a-628. Application. Fee. Examination.

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Sec. 36a-629. Safe and sound business practice required.

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Sec. 36a-630. Licensees to provide financing and management assistance to small businesses.

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Sec. 36a-631. Books and records. Annual financial reports.

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Sec. 36a-632. Jurisdiction of Banking Commissioner.

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Sec. 36a-633. License fee. Costs of examination to be borne by applicants. Automatic suspension of license or renewal license. Notice. Opportunity for hearing.

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Sec. 36a-634. Regulations.

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Secs. 36a-635 to 36a-644.

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CHAPTER 669* REGULATED ACTIVITIES

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PART I* CREDITORS' COLLECTION PRACTICES

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Sec. 36a-646. (Formerly Sec. 36-243b). Prohibited acts.

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Sec. 36a-647. (Formerly Sec. 36-243c). Enforcement powers of commissioner. Regulations.

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Sec. 36a-648. Abusive, harassing, fraudulent, deceptive or misleading debt collection practices. Liability. Exemptions. Limitations on actions.

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Sec. 36a-648a. Credit card debt collection actions against parents or legal guardians of students.

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Secs. 36a-649 to 36a-654.

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PART II DEBT ADJUSTERS AND DEBT NEGOTIATION

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Sec. 36a-655. (Formerly Sec. 36-364). Definitions.

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Sec. 36a-656. (Formerly Sec. 36-365). Debt adjustment. License application, requirements and fees. Authority of commissioner to deny application for license. Automatic suspension of license or renewal license. Notice. Opportunity for hearing.

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Sec. 36a-657. (Formerly Sec. 36-369). Suspension, revocation or refusal to renew license or taking of other action. Enforcement powers of commissioner.

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Sec. 36a-658. (Formerly Sec. 36-370). Posting of license. Responsibilities of licensee. License nontransferable. Surrender of license.

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