Sec. 49-31j. Regulations.
90 words·~1 min read·
/ct/title-49/chapter-846-mortgages/49-31j·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Banking Commissioner shall adopt such regulations, in accordance with chapter 54, as the commissioner deems necessary specifying
(1)the manner in which a composite interest rate shall be computed for the new mortgage debt pursuant to subsection
(c)of section 49-31i ,
(2)the method or standard by which prevailing market rates of interest are to be determined, and
(3)a form a lender may use to give notice pursuant to section 49-31e to a homeowner of the availability of the provisions of sections 49-31d to 49-31i , inclusive.