Connecticut General Statutes/Title 36a/Chapter 668/Section 36a-535

CGS § 36a-535. (Formerly Sec. 36-254). Definitions.

As used in sections 36a-535 to 36a-547, inclusive, unless the context otherwise requires:

(1) The terms “goods”, “retail installment sale”, “retail installment contract”, “installment loan contract”, “retail seller” and “retail buyer” have the same meanings as provided in section 36a-770;

(2) “Sales finance company” means any person engaging in this state in the business, in whole or in part, of (A) acquiring retail installment contracts or installment loan contracts from the holders thereof, by purchase, discount or pledge, or by loan or advance to the holder of either on the security thereof, or otherwise, or (B) receiving payments of principal and interest from a retail buyer under a retail installment contract or installment loan contract. “Sales finance company” does not include a bank, out-of-state bank, Connecticut credit union, federal credit union, or out-of-state credit union, if so engaged;

(3) “Advertise” or “advertising” has the same meaning as provided in section 36a-485;

(4) “Control person” has the same meaning as provided in section 36a-485;

(5) “Branch office” means a location other than the main office at which a licensee or any person on behalf of a licensee acts as a sales finance company;

(6) “Main office” has the same meaning as provided in section 36a-485; and

(7) “Unique identifier” has the same meaning as provided in section 36a-485.

Short History

(1949 Rev., S. 5963; 1949, 1955, S. 2767d; 1957, P.A. 356, S. 1; March, 1958, P.A. 27, S. 50; 1959, P.A. 589, S. 1; 1961, P.A. 116, S. 18; 1969, P.A. 454, S. 27; P.A. 77-604, S. 51, 84; 77-614, S. 161, 610; P.A. 78-121, S. 108, 113; P.A. 80-482, S. 256, 345, 348; P.A. 81-128, S. 5; 81-158, S. 12, 17; P.A. 82-18, S. 2, 4; P.A. 87-9, S. 2, 3; P.A. 88-65, S. 34; P.A. 91-69; P.A. 92-12, S. 74; P.A. 94-122, S. 249, 340; P.A. 17-233, S. 10; 17-236, S. 12; P.A. 18-173, S. 23; P.A. 22-94, S. 1.)

Long History

History: 1959 act amended Subdiv. (b) by specifying goods means all chattels included in one contract and raising the aggregate price to $6000; 1961 act made various changes to conform to uniform commercial code; 1969 act specified that amount for “other itemized charges ...” is part of time sale price where previously reference was to amount for insurance, other benefits and filing fees in Subsec. (c); P.A. 77-604 revised references to Sec. 42a-9-105; P.A. 77-614 replaced bank commissioner with banking commissioner within the department of business regulation and made banking department a division within said department, effective January 1, 1979; P.A. 78-121 deleted reference to private bankers in Subdiv. (h); P.A. 80-482 restored banking division as independent department and abolished the department of business regulation, allowing corresponding revision of commissioner's name; P.A. 81-128 eliminated the specific definitions for “goods”, “retail installment sale”, “retail installment contract”, “installment loan contract”, “retail seller” and “retail buyer” and provided those terms would have the definitions found in Sec. 42-83; P.A. 81-158 amended Subsec. (c) by replacing “section 36-396”, which had been repealed, with chapter 657, effective March 31, 1982; P.A. 82-18 changed effective date of P.A. 81-158 from March 31, 1982, to “the effective date of Title VI of Public Law 96-221, as contained in Section 625(a) of Public Law 96-221, as amended”, i.e. October 1, 1982; (Revisor's note: Pursuant to P.A. 87-9 “banking commissioner” was changed by the Revisors to “commissioner of banking”); P.A. 88-65 redefined “sales finance company” by deleting reference to industrial banks; P.A. 91-69 made technical changes and amended Subsec. (c) to provide that the term “sales finance company” does not include a bank, savings bank, savings and loan association, industrial bank or credit union; P.A. 92-12 redesignated Subdivs.; P.A. 94-122 deleted the definitions of “person” and “commissioner”, renumbered the remaining Subdivs. and made technical changes, effective January 1, 1995; Sec. 36-254 transferred to Sec. 36a-535 in 1995; P.A. 17-233 added Subdiv. (3) defining “advertise” or advertising” and added Subdiv. (4) defining “control person”; P.A. 17-236 amended Subdiv. (2) to redefine “sales finance company”; P.A. 18-173 replaced reference to Sec. 36a-546 with reference to Sec. 36a-547, amended Subdiv. (2) by redefining “sales finance company”, added Subdiv. (5) defining “branch office”, added Subdiv. (6) defining “main office”, added Subdiv. (7) defining “unique identifier”, and made technical changes; P.A. 22-94 redefined “sales finance company” in Subdiv. (2).

PreviousCGS § 36a-534c. Reports re system.NextCGS § 36a-536. (Formerly Sec. 36-255). License required. Location of licensed activity.