Connecticut § 8-286c Amount of guarantee. Record of payments to honor guarantees.

Connecticut Statutes

§ 8-286c — Amount of guarantee. Record of payments to honor guarantees.

Connecticut § 8-286c

Title 8Zoning, Planning, Housing and Economic and Community Development

Ch. 136Department of Housing: Home Ownership Loans

This text of Connecticut § 8-286c (Amount of guarantee. Record of payments to honor guarantees.) 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. § 8-286c (2026).

Text

(a)The maximum amount of any guarantee issued by the commissioner under the provisions of subsection (e) of section 8-286, section 8-289 and sections 8-286b to 8-286d, inclusive, shall be in an amount equal to twenty per cent of the mortgage on the real property.

(b)The guarantee shall secure the mortgagee up to the amount of the guarantee for any loss incurred by the mortgagee because of default of the mortgagor, including losses in principal balance, interest and fees and expenses due to foreclosure.

(c)The commissioner shall maintain a record of payments made to honor loan guarantees issued under the provisions of sections 8-286 , 8-289 and 8-286b to 8-286d , inclusive.

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(a) The maximum amount of any guarantee issued by the commissioner under the provisions of subsection (e) of section 8-286, section 8-289 and sections 8-286b to 8-286d, inclusive, shall be in an amount equal to twenty per cent of the mortgage on the real property. (b) The guarantee shall secure the mortgagee up to the amount of the guarantee for any loss incurred by the mortgagee because of default of the mortgagor, including losses in principal balance, interest and fees and expenses due to foreclosure. (c) The commissioner shall maintain a record of payments made to honor loan guarantees issued under the provisions of sections 8-286 , 8-289 and 8-286b to 8-286d , inclusive.

Legislative History

(P.A. 95-202, S. 3; P.A. 21-101, S. 4.) History: P.A. 21-101 amended Subsec. (a) by replacing reference to Sec. 8-286(d) with reference to Sec. 8-286(e), effective June 30, 2021.