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Code · Kansas · Chapter 9 — Banks And Banking; Trust Companies

9-2224. Restrictions on interest in land as security; violation.

76 words·~1 min read·/ks/chapter-9/9-2224

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9-2224. Restrictions on interest in land as security; violation.
(a)A mortgage company shall not make a covered transaction with an interest in land as security with an amount financed of $5,000 or less in which the annual percentage rate of the loan exceeds the code mortgage rate. A security interest taken in violation of this section shall be void.
(b)This section shall be a part of and supplemental to the Kansas mortgage business act.
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