New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter III - SUPERINTENDENT'S REGULATIONS
Subchapter B - NON-BANKING ORGANIZATIONS
Part 401 - Licensed Lenders
Section 401.9 - Insurance
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 401.9
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Whenever a licensee requires or provides insurance, it shall furnish to the borrower a standard policy or certificate of insurance at the time the loan is granted or within 30 days thereafter, and shall retain on file in its office a specimen copy of such policy or certificate.
(b) Each licensee shall maintain, at a designated licensed location of the licensee or of any affiliate, a specimen copy of any master or blanket policy used in connection with such insurance coverage.
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