§ 36a-436b

(a) No person shall, or have the power to, engage in the business of a Connecticut credit union in this state until such person has obtained a certificate of authority to engage in the business of a Connecticut credit union from the commissioner.(b) No person shall use, either as a part of its name or as a prefix or suffix thereto or as a designation of the business carried on by it, the phrase 'credit union' or 'mutual benefit association', except a Connecticut credit union, a federal credit union or a credit union otherwise authorized to engage in business in this state under this title. The provisions of this subsection shall not apply to an association of credit unions or a credit union service organization located in this state.(c) A certificate of authority shall be issued by the commissioner to an applicant meeting the requirements of section 36a-437a.(d) A certificate of authority issued under this section may be revoked by the commissioner for cause in accordance with section 36a-51.(P.A. 02-73, S. 37; P.A. 03-84, S. 46.)History: P.A. 03-84 changed 'Commissioner of Banking' to 'commissioner' in Subsecs. (a), (c) and (d), effective June 3, 2003.

(a) No person shall, or have the power to, engage in the business of a Connecticut credit union in this state until such person has obtained a certificate of authority to engage in the business of a Connecticut credit union from the commissioner.(b) No person shall use, either as a part of its name or as a prefix or suffix thereto or as a designation of the business carried on by it, the phrase 'credit union' or 'mutual benefit association', except a Connecticut credit union, a federal credit union or a credit union otherwise authorized to engage in business in this state under this title. The provisions of this subsection shall not apply to an association of credit unions or a credit union service organization located in this state.(c) A certificate of authority shall be issued by the commissioner to an applicant meeting the requirements of section 36a-437a.(d) A certificate of authority issued under this section may be revoked by the commissioner for cause in accordance with section 36a-51.(P.A. 02-73, S. 37; P.A. 03-84, S. 46.)History: P.A. 03-84 changed 'Commissioner of Banking' to 'commissioner' in Subsecs. (a), (c) and (d), effective June 3, 2003.