Connecticut General Statutes 36a-221 – Appointment of receiver or conservator on petition of shareholders
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A receiver or conservator for any capital stock Connecticut bank whose capital is impaired may be appointed by the superior court for the judicial district of Hartford or the judicial district in which the main office of such bank is located, on the petition of the holders of a majority of the shares of its capital stock, if the court finds that the interests of the shareholders so require.
Terms Used In Connecticut General Statutes 36a-221
- Bank: means a Connecticut bank or a federal bank. See Connecticut General Statutes 36a-2
- Capital stock: when used in conjunction with any bank or out-of-state bank means a bank or out-of-state bank that is authorized to accumulate funds through the issuance of its capital stock. See Connecticut General Statutes 36a-2