443.415. Mortgage may be insured for certain buyers, amount, requirements. — Mortgage insurers may insure a mortgage in an amount not exceeding one hundred three percent of the fair market value of the authorized real estate security at the time that the loan is made if secured by a first lien or charge on such real estate security.
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(L. 1994 H.B. 1449 § 1 merged with S.B. 718 § 35, A.L. 1998 H.B. 1794 merged with S.B. 719, A.L. 2000 H.B. 1802 merged with S.B. 896, A.L. 2002 H.B. 1375 merged with S.B. 729)