Connecticut Administrative Code
Title 36a - The Banking Law of Connecticut
136 - Conversion of Mutual Connecticut Banks to Capital Stock Connecticut Banks
Section 36a-136-35 - Termination of the conversion
Universal Citation: CT Reg of State Agencies 36a-136-35
Current through September 9, 2024
The governing board of the converting institution may terminate the conversion at any time, provided in the case of a mutual savings and loan association:
(1) The depositors may terminate the conversion by failing to approve the conversion at the depositors' meeting,
(2) the converting institution may terminate the conversion before the depositors' meeting, or
(3) the converting institution may terminate the conversion after the depositors' meeting only if the commissioner concurs.
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