Section 58-26-6 - Purchase money mortgage on real property--Restriction as to valuation

58-26-6. Purchase money mortgage on real property--Restriction as to valuation.Purchase money mortgages on real property referred to in §58-26-5 shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or ninety per cent of the fair value of such real property, whichever is less. Source: SL 1966, ch 111, ch 5, §15.