57-28-206. Disbursement.
(1) Subject to Subsectionand except as provided in Subsection, a lender shall pay the loan proceeds of a reverse mortgage under a term payment option, a tenure payment option, or a line of credit payment option. (2) (3)
(2) Under a term payment option or a tenure payment option, upon a borrower's request, the lender shall disburse a portion of the loan proceeds under a line of credit payment option.
(3) If a reverse mortgage is a fixed interest rate loan, the lender may pay the loan proceeds in a lump sum.