Sec.36a-456-6. Application for approval

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A Connecticut credit union which does not meet the requirements of Section 36a-456-2 of the Regulations of Connecticut State Agencies may apply, in writing, to the commissioner for approval to pay an interest refund. Such application shall state the proposed rate or rates of the interest refund, the delinquency rate, the reserves, the dividend rate, and the Connecticut credit union's reasons for payment of an interest refund. The commissioner shall approve or disapprove such application, in writing, within forty-five days of receipt of such application.

(Effective July 2, 1979; TransferredApril 24, 1995; Amended January 30, 1996)

                    
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