Connecticut General Statutes 36a-561 – Prohibited practices
No person licensed or required to be licensed and no control person shall, directly or indirectly:
Terms Used In Connecticut General Statutes 36a-561
- Loan: includes any line of credit or other extension of credit. See Connecticut General Statutes 36a-2
- Person: means an individual, company, including a company described in subparagraphs (A) and (B) of subdivision (11) of this section, or any other legal entity, including a federal, state or municipal government or agency or any political subdivision thereof. See Connecticut General Statutes 36a-2
(1) Assist or aid and abet any person in conduct prohibited by sections 36a-555 to 36a-573, inclusive;
(2) Employ any scheme, device or artifice to defraud or mislead any person in connection with a small loan;
(3) Make, in any manner, any false, misleading or deceptive statement or representation in connection with a small loan or engage in bait and switch advertising;
(4) Engage in any unfair or deceptive practice toward any person or misrepresent or omit any material information in connection with a small loan; or
(5) Fail to establish, enforce and maintain policies and procedures for supervising employees, agents and office operations that are reasonably designed to achieve compliance with applicable laws and regulations concerning small loan lenders.