# Conn. Gen. Stat. § 36a-428b: Sec. 36a-428b. Operation of foreign bank at state branch or state agency, rights, privileges, duties, restrictions, etc., exceptions. Deposit insurance from FDIC not required. Not subject to certain statutory provisions, when. Assessment for expenses of commissioner's office > Connecticut · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428b ## Section - **Citation:** Conn. Gen. Stat. § 36a-428b - **Heading:** Sec. 36a-428b. Operation of foreign bank at state branch or state agency, rights, privileges, duties, restrictions, etc., exceptions. Deposit insurance from FDIC not required. Not subject to certain statutory provisions, when. Assessment for expenses of commissioner's office - **Jurisdiction:** Connecticut - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Connecticut Code / Title 36a / Chapter 666 / Section 36a-428b ## Text (b) Nothing in this section shall subject either of the following to the duties, restrictions, penalties, liabilities or limitations that apply to a Connecticut bank: (1) A foreign bank's director or officer interlocks with affiliates or with out-of-state financial institutions or (2) a foreign bank's operations and activities that are conducted outside this state and that do not involve the assets or the employees of a state branch or state agency in this state or of a Connecticut bank. For purposes of this section, “operations and activities that are conducted outside this state” includes decisions and activities of the foreign bank relating to matters of general corporate governance, including: (1) Issuance of stock; (2) shareholder rights; (3) declaration of dividends; (4) appointment or removal of directors and officers; (5) extensions of credit to directors, officers, principal shareholders or their related interests as provided in 12 CFR Part 215 as from time to time amended; (6) investment decisions on behalf of the foreign bank; and (7) mergers, consolidations, acquisitions, tender offers and sales of assets. (c) No state branch or state agency in this state shall be required to obtain deposit insurance from the Federal Deposit Insurance Corporation. (d) A state branch or state agency that does not hold insured deposits or does not otherwise engage in domestic retail deposit activities requiring deposit insurance protection, as determined by the Federal Deposit Insurance Corporation in accordance with 12 USC 3104 as amended from time to time, or the business of consumer lending in this state shall not be subject to the provisions of sections 36a-30 to 36a-34 , inclusive, 36a-304 and 36a-316 to 36a-323 , inclusive. (e) For purposes of section 36a-65 the commissioner shall annually, on or after July first for the fiscal year commencing on said July first, assess each foreign bank that has established a state branch or state agency in this state, taking into consideration (1) the assets of such foreign bank relative to the assets of other foreign banks with a state branch or state agency in this state provided only the assets of the state branches or state agencies located in this state shall be considered, (2) the cost of any examination under section 36a-428 l , (3) the amount allocated to each Connecticut bank and each Connecticut credit union under section 36a-65 , and (4) any other factor the commissioner deems appropriate to the administration of sections 36a-428 to 36a-428n , inclusive, as amended. ## Nearby sections - [Conn. Gen. Stat. § 36a-410 Sec. 36a-410. (Formerly Sec. 36-552). Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-410.md) - [Conn. Gen. Stat. § 36a-410a Sec. 36a-410a. Mergers between Connecticut and out-of-state banks authorized. Interstate branching.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-410a.md) - [Conn. Gen. Stat. § 36a-412 Sec. 36a-412. (Formerly Sec. 36-555). Out-of-state banks: Merger, consolidation and acquisition. De novo branches. Powers of branches. Loan production offices. Applicability of Connecticut law. Commissioner approval.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-412.md) - [Conn. Gen. Stat. § 36a-425 Sec. 36a-425. (Formerly Sec. 36-5a). Foreign banking corporations not to do business in this state. Excepted activities.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-425.md) - [Conn. Gen. Stat. § 36a-428a Sec. 36a-428a. Application for license to establish and maintain state branch or state agency. Application form, supporting documents, fee. Investigation by commissioner and issuance of license. Display of license. License may not be transferred or assigned.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428a.md) - [Conn. Gen. Stat. § 36a-428b Sec. 36a-428b. Operation of foreign bank at state branch or state agency, rights, privileges, duties, restrictions, etc., exceptions. Deposit insurance from FDIC not required. Not subject to certain statutory provisions, when. Assessment for expenses of commissioner's office.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428b.md) - [Conn. Gen. Stat. § 36a-428c Sec. 36a-428c. Deposit of assets by foreign bank. Holding of currency or other assets in relation to liabilities. Unusual and extraordinary circumstances; deposit of assets with banks designated by commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428c.md) - [Conn. Gen. Stat. § 36a-428d Sec. 36a-428d. Certification of paid-in capital stock, surplus fund and undivided profits; limitation or restriction.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428d.md) - [Conn. Gen. Stat. § 36a-428g Sec. 36a-428g. Representative office; licensing requirements; application; fee; renewal; content of license; investigation of facts by commissioner. Foreign bank subject to regulations and orders of commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428g.md) - [Conn. Gen. Stat. § 36a-428h Sec. 36a-428h. Books, accounts and records to be maintained and available at state branch, state agency or representative office. Reports to commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428h.md) - [Conn. Gen. Stat. § 36a-428i Sec. 36a-428i. Notice of acquisition of control or merger of foreign bank.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428i.md) - [Conn. Gen. Stat. § 36a-428k Sec. 36a-428k. Voluntary liquidation of business and property of state branches and state agencies.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428k.md) - [Conn. Gen. Stat. § 36a-428l Sec. 36a-428l. Investigation and examination concerning foreign bank licensed to maintain state branch, state agency or representative office. Commissioner's powers; duties of foreign bank; cost of examination; penalties.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428l.md) - [Conn. Gen. Stat. § 36a-428n Sec. 36a-428n. Involuntary liquidation of business and property of foreign banks having a state branch or state agency.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428n.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428b. Check the current official text before relying on it. Not legal advice.