Section 27 in Gauhati University Loans and Advances Rules, 1959
27.
An officer or teacher must insure the motor car purchased with the aid of the advance from the University under a comprehensive insurance policy covering all risks.Such insurance should be effected within one month from the date of purchase of the motor car and the officer or teacher shall be required to submit to the Treasurer a letter in prescribed form to the Motor Insurance Company with which the motor car is insured to notify to them the fact that the University is interested in he insurance policy secured. The Treasurer will then forward the letter to the Company and obtain their acknowledgement. In the case of insurance effected on annual basis the process prescribed above should be repeated every year until the advance is fully repaid. The amount for which the motor car is insured during any period should not be less than the outstanding balance of the advance with the interest accrued at the beginning of that period.
