No person licensed or required to be licensed and no control person shall, directly or indirectly:
(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.
(1949 Rev., S. 5948 (1); P.A. 94-122, S. 263, 340; P.A. 16-65, S. 25; P.A. 17-233, S. 15.)
History: P.A. 94-122 made technical changes, effective January 1, 1995; Sec. 36-231 transferred to Sec. 36a-561 in 1995; P.A. 16-65 replaced former provisions with introductory language and Subdivs. (1) to (4) re prohibited practices, effective July 1, 2016; P.A. 17-233 added reference to control persons, added Subdiv. (5) re failure to establish, enforce and maintain policies and procedures, and made a technical change.
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