Connecticut § 38a-942 (Formerly Sec. 38-460). Claims of surety.

Connecticut Statutes

§ 38a-942 — (Formerly Sec. 38-460). Claims of surety.

Connecticut § 38a-942

Title 38aInsurance

Ch. 704cInsurers Rehabilitation and Liquidation Act and Termination of Domestic Life Insurance Companies

This text of Connecticut § 38a-942 ((Formerly Sec. 38-460). Claims of surety.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 38a-942 (2026).

Text

Whenever an obligee whose claim against an insurer is secured, in whole or in part, by the undertaking of another person, fails to prove and file that claim, the other person may do so in the obligee's name, and shall be subrogated to the rights of the obligee, whether the claim has been filed by the obligee or by the other person in the obligee's name, to the extent that the obligee discharges the undertaking. In the absence of an agreement with the obligee to the contrary, the other person shall not be entitled to any distribution until the amount paid to the obligee on the undertaking plus the distributions paid on the claim from the insurer's estate to the obligee equals the amount of the entire claim of the obligee. Any excess received by the obligee shall be held by him in trust for 

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Whenever an obligee whose claim against an insurer is secured, in whole or in part, by the undertaking of another person, fails to prove and file that claim, the other person may do so in the obligee's name, and shall be subrogated to the rights of the obligee, whether the claim has been filed by the obligee or by the other person in the obligee's name, to the extent that the obligee discharges the undertaking. In the absence of an agreement with the obligee to the contrary, the other person shall not be entitled to any distribution until the amount paid to the obligee on the undertaking plus the distributions paid on the claim from the insurer's estate to the obligee equals the amount of the entire claim of the obligee. Any excess received by the obligee shall be held by him in trust for such other person. The term “other person”, as used in this section is not intended to apply to a guaranty association.

Legislative History

(P.A. 79-382, S. 40; P.A. 98-214, S. 21.) History: Sec. 38-460 transferred to Sec. 38a-942 in 1991; P.A. 98-214 substituted “obligee” for “creditor” and “he”, and deleted “however” and “or foreign guaranty association”.