TITLE 41

INSURANCE

CHAPTER 6

ASSETS AND LIABILITIES

41-616.  Valuation of purchase money mortgages. Purchase money mortgages on real property referred to in subsection (1) of section 41-615 of this chapter shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or ninety per cent (90%) of the fair value of such real property, whichever is less.

History:

[41-616, added 1961, ch. 330, sec. 137, p. 645.]