Conn. Gen. Stat. § 32-14
Mortgage and Loan Insurance Fund
Connecticut · General Statutes of Connecticut Chapter 579 — Connecticut Innovations, Incorporated · Status: effective
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- Citation
- Conn. Gen. Stat. § 32-14, Mortgage and Loan Insurance Fund, Connecticut, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2197754
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Full text
There is created a Mortgage and Loan Insurance Fund. To this fund shall be charged all payments required by loan defaults, all direct expenses and payments for the protection of the state's interest in connection with defaulted or delinquent insured mortgages or loans, or in property possessed in consequence thereof and all operating expenses of the corporation which are attributable to the maintenance of the fund, and to the fund shall be credited all receipts of insurance premiums and all money, other than proceeds of insurance hereunder, or other assets of whatever nature received by the corporation as a result of default or delinquency with respect to insured mortgages and loans or agreements with respect to which payments from the insurance fund have been made, including proceeds from the sale, disposal, lease or rental of real or personal property which the corporation may receive under the provisions of this chapter. Moneys in the fund not needed currently to meet the expenses and obligations of the corporation may be invested in the manner provided by section 3-31a, and all income from such investments shall become part of the Mortgage and Loan Insurance Fund.