An exchange facilitator at all times shall: (1) Maintain an errors and omissions policy of insurance in an amount not less than two hundred fifty thousand dollars executed by an insurer authorized to do business in this state; or (2) deposit an amount of cash or securities or provide irrevocable letters of credit in an amount not less than two hundred fifty thousand dollars.
Conn. Gen. Stat. § 36a-833
Errors and omissions insurance policy; cash or securities deposit; letters of credit
(P.A. 13-135, S. 8; 13-253, S. 28.) History: P.A. 13-253 made a technical change.
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.