The Department of Banking News Bulletin
Bulletin # 1964
Week Ending October 12, 2001
This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to John P. Burke, Commissioner of Banking, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail to john.burke@ct.gov. Written comments will be considered only if they are received within ten days from the date of this bulletin.
STATE BANK ACTIVITY
Branch Activity
Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided. Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days. Questions concerning branch activity should be directed to the Bank Examination Division, (860) 240-8180.
Note: dates are listed in month/day/year format.
| Date | Bank | Location | Activity |
|---|---|---|---|
| 10/09/01 | Chelsea Groton Savings Bank Norwich |
802 Bank Street New London, CT 06320 |
approved |
| 10/09/01 | People's Bank Bridgeport |
*Stop & Shop Supermarket 757 Straits Turnpike Watertown, CT 06795 |
approved |
| 10/09/01 | People's Bank Bridgeport |
*Stop & Shop Supermarket 215 East Main Street Clinton Plaza Clinton, CT 06413 |
approved |
| 10/09/01 | Jewett City Savings Bank Jewett City |
FROM: 28 Main Street
Jewett City, CT 06351
TO: 111 Main Street
Jewett City, CT 06351 |
relocation effective date |
| * Limited Branch | |||
DE NOVO BRANCH
On October 12, 2001, pursuant to Sections 36a-412(a)(2), as amended by P.A. 01-76, and 36a-145(c)(2), as amended by P.A. 01-183, of the Connecticut General Statutes, Sovereign Trust Company, a New Jersey-chartered bank organized to function solely in a fiduciary capacity, filed an amendment to the application filed on June 18, 2001, to establish a de novo limited branch at 100 Pearl Street, Hartford, Connecticut to engage solely in fiduciary activities.
Wallingford Man Ordered to Cease and Desist
From Unregistered Activity in Conjunction With
Promissory Note Sales; Notice of Intent to Fine Issued
On October 9, 2001, the Commissioner entered an Order to Cease and Desist and Notice of Intent to Fine against Edward F. O'Hara of Wallingford, Connecticut. The action alleged that, from at least April 1997 forward, the respondent sold unregistered non-exempt promissory notes of Lifeblood Biomedical, Inc., Canko Environmental Technologies, Inc., Ameritech Petroleum, Inc. and ALumaLex, Inc. f/k/a Auto Shutter, Inc. in violation of Section 36b-16 of the Connecticut Uniform Securities Act and without registering as an agent of the issuers under the Act. In addition, the Order to Cease and Desist and Notice of Intent to Fine claimed that, from at least October 1998 forward, the respondent violated the Act by selling unregistered non-exempt shares of Palm Beach Investment Group, Inc. preferred stock in Connecticut; by transacting business as an unregistered broker-dealer in connection with the preferred stock sales; and by employing unregistered broker-dealer agents.
The respondent was afforded an opportunity to request a hearing on the Order to Cease and Desist. A hearing on the Notice of Intent to Fine has been scheduled for December 4, 2001.
Middlefield Man Ordered to Cease and Desist
From Unregistered Activity in Conjunction With
Promissory Note Sales; Notice of Intent to Fine Issued
On October 9, 2001, the Commissioner entered an Order to Cease and Desist and Notice of Intent to Fine against Paul A. Golub of Middlefield, Connecticut. The action alleged that, from at least April 1997 forward, the respondent sold unregistered non-exempt promissory notes of Lifeblood Biomedical, Inc., Canko Environmental Technologies, Inc., Ameritech Petroleum, Inc. and ALumaLex, Inc. f/k/a Auto Shutter, Inc. in violation of Section 36b-16 of the Connecticut Uniform Securities Act and without registering as an agent of the issuers under the Act. In addition, the Order to Cease and Desist and Notice of Intent to Fine claimed that, from at least October 1998 forward, the respondent violated the Act by selling unregistered non-exempt shares of Palm Beach Investment Group, Inc. preferred stock in Connecticut; by transacting business as an unregistered broker-dealer in connection with the preferred stock sales; and by employing unregistered broker-dealer agents.
The respondent was afforded an opportunity to request a hearing on the Order to Cease and Desist. A hearing on the Notice of Intent to Fine has been scheduled for November 27, 2001.
John P. Burke
Banking Commissioner