Senate Bill 792

To reorganize, reduce, eliminate or establish certain application fees required to be charged by the Department of Banking; to remove the restriction on the percentage of the stock of a capital stock community bank that a person may own to increase attractiveness of the community bank charter; to require accountants conducting annual examinations of the books and records of Connecticut banks to submit a signed report of the audit to the governing board within a reasonable period of time; to allow a Connecticut bank that is a subsidiary of a holding company, with the prior approval of the commissioner, to submit a signed consolidated report of the holding company in lieu of an annual report of the bank to allow individual banks to take advantage of the economies of scale available in a holding company structure; to require accountants who perform annual audits to provide the commissioner with access to their work papers; to require a capital stock Connecticut bank that converts to a national banking association to give the commissioner notice of the conversion; to require a Connecticut bank to notify the commissioner prior to the proposed closing of any predetermined mobile branch location; to ensure that sufficient funds are available to cover the costs and expenses incurred by the commissioner and fees and assessments due the commissioner in the event a Connecticut bank organized to function solely in a fiduciary capacity or an uninsured bank is placed in receivership or conservatorship; to delete the requirement that a holding company or banking corporation obtain the approval of the commissioner to establish or maintain a nondepository office of a subsidiary in Connecticut; to permit a Connecticut bank organized to function solely in a fiduciary capacity to convert to a Connecticut bank that is authorized to accept retail deposits; and to permit a Connecticut bank that is authorized to accept retail deposits or a Connecticut bank organized to function solely in a fiduciary capacity to convert to an uninsured bank.

In the Senate

• BA

  Sponsor

In the House of Representatives

• Senate floor amendmentAdopted

  Adopted May 16 · Adopted May 23

• Senate floor amendmentAdopted

  Adopted May 16 · Adopted May 23

• House of Representatives floor amendmentAdopted

  Adopted May 23

l9n doesn't hold this bill's text yet.

In the Senate Jan 18 – May 16

1. Jan 18Introduced and sent to Banking Committee
2. Jan 19Heard in Banking Committee
3. Mar 15Banking Committee recommended a substitute for it
4. Apr 11Sent to Finance, Revenue and Bonding Committee
5. Apr 20Finance, Revenue and Bonding Committee recommended it
6. May 16The Senate adopted Senate Amendment A
7. The Senate adopted Senate Amendment B
8. Passed the Senate with Senate Amendments A and B

In the House of Representatives May 18 – May 23

1. May 18Arrived in the House of Representatives
2. May 23The House of Representatives adopted Senate Amendments A and B
3. The House of Representatives adopted House of Representatives Amendment A
4. Passed the House of Representatives with Senate Amendments A and B

To the Governor May 23 – Jun 5

1. May 23Passed the House of Representatives with House of Representatives Amendment A
2. Jun 5Sent to Finance, Revenue and Bonding Committee