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Current as of January 01, 2025 | Updated by FindLaw Staff
If, in the opinion of the commissioner, a trust bank, or an innovation bank, in danger of becoming insolvent, is not likely to be able to meet the demands of its depositors, in the case of an innovation bank, or pay its obligations in the normal course of business, or is likely to incur losses that may deplete all or substantially all of its capital, the commissioner may require such trust bank or innovation bank to increase the assets kept on deposit as required by subsection (u) of section 36a-70 to an amount that would be sufficient to meet the costs and expenses incurred by the commissioner pursuant to section 36a-222 and all fees and assessments due the commissioner. Such assets shall be deposited with such bank as the commissioner may designate, and shall be in such form and subject to such conditions as the commissioner deems necessary.
Cite this article: FindLaw.com - Connecticut General Statutes Title 36A. The Banking Law of Connecticut § 36a-215. Powers re troubled trust banks and uninsured banks - last updated January 01, 2025 | https://codes.findlaw.com/ct/title-36a-the-banking-law-of-connecticut/ct-gen-st-sect-36a-215/
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