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Code · Kentucky · Kentucky Revised Statutes

376.050 Mortgage for building or improvement purposes to state facts --

42 words·~1 min read·/ky/376-050

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Misapplication of proceeds.
(1)Any mortgage taken to secure a loan made for the purpose of erecting, improving or
adding to a building shall state such facts.
(2)No person shall willfully misappropriate or misapply the proceeds received from
such a loan.
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