Mutual Security Credit Union v. Hardy

Summary

The Connecticut Supreme Court held that the one-year limitation period for forfeitures under General Statutes § 52-585 does not apply to claims under UCC § 42a-9-625 and the Retail Installment Sales Financing Act. Applying its companion decision in Connex Credit Union v. Madgic, the court concluded that the three-year limitation period under § 52-577 governs those claims, reversed summary judgment on the defendant’s counterclaims, and remanded for further proceedings.

Holdings

1. The one-year limitation period in § 52-585 does not apply because §§ 42a-9-625 and 36a-785 are not penal statutes.
2. The three-year limitation period in General Statutes § 52-577 applies to the defendant's counterclaims under both §§ 42a-9-625 and 36a-785.
3. The trial court improperly granted summary judgment on the defendant's counterclaim under §§ 42a-9-625 and 36a-785 because it incorrectly applied § 52-585.

Questions Presented

1. Whether the defendant's counterclaims under General Statutes §§ 42a-9-625 and 36a-785 were subject to the one-year limitation period in General Statutes § 52-585 for an action upon a penal statute.
2. Whether the three-year limitation period in General Statutes § 52-577 applies to the defendant's counterclaims under General Statutes §§ 42a-9-625 and 36a-785.
3. Whether the trial court properly granted summary judgment on the defendant's counterclaim as time barred.

Disposition

reversed_and_remanded