Section 3. This act shall not apply to any such loan existing on the effective date of this act or the refinancing thereof nor to any such loan contracted for after a period of five years from the effective date hereof provided that any premium contracted for during such five year period may continue to be collected thereafter.
Section 3
Act 63 of 1968, § 3, under MORTGAGE LOANS - PREMIUM CHARGES BY LENDER.
Act 63 of 1968, § 3