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Code · Connecticut · Title 36a — The Banking Law of Connecticut · CHAPTER 669* — Regulated Activities

Sec. 36a-760f. Prohibition against dividing or structuring loan to avoid application of nonprime home loan statutory provisions.

79 words·~1 min read·/ct/title-36a/chapter-669-regulated-activities/36a-760f·

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No lender or mortgage broker shall attempt in bad faith to avoid the application of sections 36a-760a to 36a-760h , inclusive, by dividing any loan transaction into separate parts or to structure in bad faith a residential mortgage loan transaction as an open-end loan for the purpose of evading the applicable provisions of sections 36a-760a to 36a-760h , inclusive, when the loan would have been a nonprime home loan if the loan had been structured as a closed-end loan.
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