2012 Connecticut General Statutes
Title 36a - The Banking Law of Connecticut
Chapter 664a - Administration and Enforcement
Section 36a-55 - (Formerly Sec. 36-7). Derogatory statements affecting banks, out-of-state banks or credit unions.

Any person who, wilfully and maliciously, makes, circulates or transmits to another any false statement, rumor or suggestion, written, printed or oral, which is, directly or by inference, derogatory to the financial condition or affects the solvency or financial standing of any bank, out-of-state bank that maintains in this state a branch as defined in section 36a-410, Connecticut credit union or federal credit union, or who counsels, aids or induces another to transmit or circulate any such statement or rumor, shall be fined not more than one thousand dollars or imprisoned not more than one year or both. A finding by the commissioner as a result of an investigation of any such making, circulating or transmitting, or counseling, aiding or inducing shall be considered a violation of this section for purposes of the administrative enforcement of sections 36a-50 to 36a-53, inclusive. The commissioner shall refer to the Chief State’s Attorney any evidence found by the commissioner of a criminal violation of the provisions of this section.

(1949 Rev., S. 8476; 1951, S. 3279d; 1969, P.A. 252, S. 1; P.A. 78-121, S. 11, 113; P.A. 94-122, S. 31, 340; P.A. 95-155, S. 7, 29; P.A. 03-259, S. 5.)

History: 1969 act added reference to credit unions and raised maximum fine from $500 to $1,000; P.A. 78-121 deleted reference to building associations; P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-7 transferred to Sec. 36a-55 in 1995; P.A. 95-155 added reference to certain out-of-state banks, effective June 27, 1995; P.A. 03-259 required that finding by commissioner of making, circulating or transmitting, or counseling, aiding or inducing shall be considered violation of section for purposes of administrative enforcement and required commissioner to refer evidence of criminal violation of section to Chief State’s Attorney.