Connecticut General Statutes 32-63 – Insurance of payments. Applications
The corporation may insure and make advance commitments to insure all or any portion of the payment required by a loan or any portion of a loan upon such terms and conditions as the corporation may prescribe in accordance with this chapter. In administering the insurance program authorized by this chapter, the corporation may establish application fees and prescribe application, notification, contract and insurance forms, rules and regulations it deems necessary or appropriate. The chief executive officer shall, on the basis of the application and any other appropriate information, prepare a report to the corporation concerning the credit-worthiness of the proposed borrower, the manner in which the project will advance the purposes of state commerce and the soundness of the proposed loan.
Terms Used In Connecticut General Statutes 32-63
- chief executive officer: means the chief executive officer of Connecticut Innovations, Incorporated appointed pursuant to §. See Connecticut General Statutes 32-61
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- corporation: means Connecticut Innovations, Incorporated created under subsection (a) of §. See Connecticut General Statutes 32-61
- loan: means loans, notes, bonds or other forms of indebtedness related to the financing or refinancing of a project by the corporation or an eligible financial institution, or any participation or other interest therein, however evidenced, or any pool or portion of the foregoing. See Connecticut General Statutes 32-61
- project: means a project as defined in subsection (d) of §. See Connecticut General Statutes 32-61
- state: means the state of Connecticut. See Connecticut General Statutes 32-61