Sec.4a-60h-3. Letters of credit

Latest version.

(a) A letter of credit submitted pursuant to subsection (i) of section 4a-60g of the Connecticut General Statutes shall be clean, irrevocable, unconditional and issued or confirmed by a qualified United States financial institution, as defined in subsection (a) of section 38a-87 of the Connecticut General Statutes.
(b) The letter of credit shall comply with the requirements established in subsections (a) through (h), inclusive, of section 38a-88-8 of the Regulations of Connecticut State Agencies.

(Adopted effective December 30, 2008)

                    
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