Conn. Agencies Regs. § 32-13-34
Current through December 27, 2024
The commitment for insurance on machinery and equipment shall require (1) that the debtor execute a certificate of the actual cost of any machinery and equipment to be insured; (2) that the debtor file with the secured party and the commission copies of invoices or other documentary evidence of the cost of any machinery and equipment to be insured; (3) that any excess of loan proceeds over statutory limitations based on actual cost be applied to reduction of the principal of the loan committed for insurance by the commission.
Conn. Agencies Regs. § 32-13-34