ARS § 20-557
An insurer may invest in certain second-mortgage and construction-loan instruments, but must not make or acquire them if the debt exceeds 80% of the property value or if a second-lien loan allows the borrower to raise the first mortgage without the insurer’s approval, except for amounts used to reduce the insurer’s inv
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- United States — Arizona
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- en
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Statute overview
About this statute
An insurer may invest in certain second-mortgage and construction-loan instruments, but must not make or acquire them if the debt exceeds 80% of the property value or if a second-lien loan allows the borrower to raise the first mortgage without the insurer’s approval, except for amounts used to reduce the insurer’s investment.
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ARS § 20-557
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