§ 3-24j

As used in this section and sections 3-24k and 3-24l:(1) 'Community bank' means a bank and trust company, savings bank or savings and loan association chartered or organized under the laws of this state; and(2) 'Community credit union' means a cooperative, nonprofit financial institution that (A) is organized under chapter 667 and the membership of which is limited as provided in section 36a-438a, (B) operates for the benefit and general welfare of its members with the earnings, benefits or services offered being distributed to or retained for its members, and (C) is governed by a volunteer board of directors elected by and from its membership.(P.A. 03-226, S. 1; P.A. 07-55, S. 1; P.A. 17-8, S. 1; P.A. 23-126, S. 27.)History: P.A. 07-55 redefined 'community credit union' in Subdiv. (2), defined 'state credit union' in Subdiv. (3) and made technical changes, effective May 21, 2007; P.A. 17-8 amended Subdiv. (1) to redefine 'community bank' and amended Subdiv. (2) to redefine 'community credit union', effective May 31, 2017; P.A. 23-126 redefined 'community bank' and 'community credit union' in Subdivs. (1) and (2), respectively, and deleted former Subdiv.

(2) to redefine 'community credit union', effective May 31, 2017; P.A. 23-126 redefined 'community bank' and 'community credit union' in Subdivs. (1) and (2), respectively, and deleted former Subdiv. (3) defining 'state credit union', effective July 1, 2023.