Section 91343 - Insurance(a) The borrower, upon completion of any improvements upon the project property made pursuant to a loan granted under these regulations, shall maintain fire insurance with standard extended coverage endorsement on all improvements on the property, equal to the current market value of such improvements, for the term of the loan.(b) Policies shall contain the standard lender's benefit clauses and shall name the State of California as joint beneficiary. Copies of periodic renewal endorsement certificates shall be provided to the Department.Cal. Code Regs. Tit. 22, § 91343
1. Editorial correction adding NOTE filed 2-23-83 (Register 83, No. 9). Note: Authority cited: Sections 103, 446.2 and 446.3, Health and Safety Code; and Section 11152, Government Code. Reference: Section 13111.3, Health and Safety Code.
1. Editorial correction adding NOTE filed 2-23-83 (Register 83, No. 9).