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2020 Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-34 Industrial-Recreational Building Authority
Section 42-34-11 Mortgage insurance premiums.
Universal Citation: RI Gen L § 42-34-11 (2020)
§ 42-34-11. Mortgage insurance premiums.
The authority is authorized to fix mortgage insurance premiums for the insurance of mortgage payments under the provisions of this chapter, such premiums to be computed as a percentage, which shall not exceed three percent (3%) per annum, of the principal obligation of the mortgage in such manner in each case as the authority shall determine on the basis of all pertinent available data. The premiums shall be payable by the mortgagors or the mortgagees in such manner as shall be prescribed by the authority. The amount of premium need not be uniform among the various loans insured.
History of Section.
(P.L. 1958, ch. 91, § 12; P.L. 1960, ch. 21, § 5.)
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