Regulations of Connecticut State Agencies — Title 12
Conn. Agencies Regs § 12-217kk-7
Lapse of eligibility certification; surety bond
# (a)
Upon the Commission's written notice to the applicant, the project's certification as a State-certified project shall lapse not earlier than 180 days after the issuance of notice of eligibility certification upon the Commission's determination that an applicant has failed to provide satisfactory evidence that the project has substantially commenced and will be substantially completed as proposed.
# (b)
At any time after certification of a project as a State-certified project, the
Commission may direct the applicant to file a surety bond at the applicant's sole cost and expense and in such form and principal amount as the Commission may determine to assure completion of the project or construction of any project installation in accordance with the application documents submitted to the Commission.
Such surety bond shall be issued by a bonding or insurance company authorized and licensed to do business in this State and in good standing and which shall be rated ''A-'' or better by the latest edition of A.M. Best's Ratings Guide or, if such Guide is no longer available, any generally recognized replacement therefore. The Commission shall be named in any such bond as a dual obligee.
Amendment history
June 26, 2009
Source: official regulations index (title 12 publishes as one PDF)
Nearby sections (25 sections)
- 12-217jj-8 · Allocation of costs
- 12-217jj-9 · Limitations on allowable expenses and costs
- 12-217jj-10 · Scope of and procedures for audit
- 12-217jj-11 · Confidentiality of application information and documents
- 12-217jj-12 · Disposition of application for film production tax credit
- 12-217jj-13 · Transfers of tax credits
- 12-217kk-1 · Statement of purpose
- 12-217kk-2 · Definitions
- 12-217kk-3 · Application for eligibility certification as…
- 12-217kk-4 · Estimated cost report
- 12-217kk-5 · Review and disposition of application for eligibility…
- 12-217kk-6 · Project progress reports; document submission
- 12-217kk-7 · Lapse of eligibility certification; surety bond
- 12-217kk-8 · Application for issuance of state-certified project tax
- 12-217kk-9 · Limitation on eligible expenditures
- 12-217kk-10 · Scope of and procedures for state-certified project audit
- 12-217kk-11 · Disposition of application for tax credit voucher
- 12-217kk-12 · Confidentiality of application information and documents
- 12-217kk-13 · Transfers of tax credits
- 12-217ll-1 · Statement of purpose
- 12-217ll-2 · Definitions
- 12-217ll-3 · Application for certification as state-certified digital…
- 12-217ll-4 · Disposition of application for certification
- 12-217ll-5 · Fiscal and accounting requirements
- 12-217ll-6 · Application for issuance of a digital animation production