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§ 372. Loss Valuation.

12 CA ADC § 372Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 12. Military and Veterans Affairs
Division 2. Department of Veterans Affairs
Chapter 2. Veterans' Farm and Home Purchases
Subchapter 5. Disaster Indemnity
12 CCR § 372
§ 372. Loss Valuation.
The Department shall inspect and establish a value for repair of damage which shall be limited to the amount necessary to repair or restore permanent improvements to a condition substantially similar to that which existed prior to the damage. In no event shall the amount of coverage exceed the guaranteed replacement cost value of the property at time of loss. The Department shall be the sole judge of the amount necessary to repair or restore such improvements.

Credits

Note: Authority cited: Sections 700 and 989.6, Military and Veterans Code. Reference: Sections 987.76(c) and 989.4, Military and Veterans Code.
History
1. Amendment filed 3-24-98; operative 4-23-98 (Register 98, No. 13).
This database is current through 6/7/24 Register 2024, No. 23.
Cal. Admin. Code tit. 12, § 372, 12 CA ADC § 372
End of Document