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CT SB00265

Bill

Official Source

Status

Introduced

2/25/2014

Primary Sponsor

Planning and Development Committee

Click for details

Origin

Senate

2014 General Assembly

AI Summary

  • Repeals and replaces Section 36a-757 of the general statutes, effective October 1, 2014.

  • Prohibits mortgage lenders from requiring borrowers to obtain fire, flood, or extended coverage insurance policies exceeding the replacement value of the residential property.

  • Prohibits mortgage lenders from requiring prospective or existing mortgagors to obtain flood insurance coverage in excess of the amount of the mortgage loan.

  • Applies to all mortgage loan applications for residential real estate located in Connecticut.

Legislative Description

An Act Concerning Limits On Flood Insurance Policies.

Last Action

Public Hearing 03/07

2/28/2014

Committee Referrals

Planning and Development2/25/2014

Full Bill Text

No bill text available