No partnership, common law trust or association, or individual using a trade name, shall use, either as a part of its name or as a prefix or suffix thereto or as a designation of the business carried on by it, the word “bank”, “banking”, “banker”, “bankers”, “trust” or “savings”, provided either the word “bankers” or the word “trust” may be so used when qualified and immediately preceded by the word “investment”, but not followed by the word “company” or “corporation”. The provisions of this section shall not apply to any charitable or athletic association. No provision of this section shall prevent any savings and loan association organized under the provisions of § 36a-70 from using the term “savings” either as a part of its name or as a prefix or suffix thereto or as a designation of the business carried on by it.
Terms Used In Connecticut General Statutes 35-2
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.