Connecticut General Statutes/Title 36a/Chapter 669/Section 36a-741

CGS § 36a-741. (Formerly Sec. 36-451). Cease and desist order. Enforcement action.

(a) If the commissioner finds that a financial institution is violating the provisions of sections 36a-735 to 36a-744, inclusive, the commissioner shall order the institution to cease and desist from such practices in accordance with section 36a-52.

(b) Whenever it appears to the commissioner that any financial institution has violated, is violating or is about to violate any provision of sections 36a-735 to 36a-744, inclusive, or any regulation adopted under said sections, the commissioner may take action against such financial institution in accordance with section 36a-50.

Short History

(P.A. 77-153, S. 9; P.A. 94-122, S. 319, 340.)

Long History

History: P.A. 94-122 deleted the provision making financial institutions which violate cease and desist orders subject to a $5,000 fine, added a reference to the commissioner's cease and desist authority under Sec. 36a-52, and added Subsec. (b) re the commissioner's enforcement authority under Sec. 36a-50, effective January 1, 1995; Sec. 36-451 transferred to Sec. 36a-741 in 1995.

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