Statutory Text

Idaho Code § 41-722 — Mortgage Loan Limited By Property Value.

TITLE 41 INSURANCE CHAPTER 7 INVESTMENTS 41-722. Mortgage loan limited by property value. (1) No commercial or residential mortgage loan or investment therein upon any one (1) parcel of real property shall exceed in amount, at the time of acquisition, eighty percent (80%) of the fair value of the property and the loan is required to be amortized within not more than thirty (30) years by payment of installments of principal and interest thereon at regular intervals not less frequent than every year. (2) The extent to which a mortgage loan made under subsection (3) or (4) of section 41-721 , Idaho Code, is guaranteed by the administrator of veterans affairs may be deducted before application of the limitations contained in subsection (1) of this section.

History:[41-722, added 1961, ch. 330, sec. 159, p. 645; am. 1969, ch. 214, sec. 24, p. 625; am. 2002, ch. 364, sec. 1, p. 1028; am. 2006, ch. 26, sec. 2, p. 85.]

Source: legislature.idaho.gov — public domain Official Source ↗

Root-LD Entity Data

◈ Machine-Readable Provenance Record Root-LD v1.0 · boisestandard.org

Federation ID

BS-IC41-SEC-731125

Entity Class

STATUTE / IDAHO-STATE-CODE-SECTION

Domain Signature

boisestandard.org

Jurisdiction

Idaho — United States

Citation

Idaho Code § 41-722

Status

✓ ACTIVE

Source

PRIMARY-SOURCE

Source Verified

✓ TRUE

Content Hash

cf29f05f6ad0c05d...

Semantic Edges

Pending — corpus passes queued

The statutory text of Idaho Code § 41-722 is reproduced from the official Idaho Legislature website (legislature.idaho.gov), published by the Idaho Legislative Services Office. Idaho Code is public domain.

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Ch. 7 — INVESTMENTS

Idaho Code — public domain ← Idaho Code Index