41-616. VALUATION OF PURCHASE MONEY MORTGAGES. Purchase money mortgages on real property referred to in subsection (1) of section 41-615 of this chapter shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or ninety per cent (90%) of the fair value of such real property, whichever is less.
History:
[41-616, added 1961, ch. 330, sec. 137, p. 645.]
Structure Idaho Code
Chapter 6 - ASSETS AND LIABILITIES
Section 41-601 - “ASSETS” DEFINED.
Section 41-602 - ASSETS AS DEDUCTIONS FROM LIABILITIES.
Section 41-603 - ASSETS NOT ALLOWED.
Section 41-604 - DISALLOWANCE OF “WASH” TRANSACTIONS.
Section 41-605 - LIABILITIES, IN GENERAL.
Section 41-606 - UNEARNED PREMIUM RESERVE.
Section 41-607 - UNEARNED PREMIUM RESERVE FOR MARINE AND TRANSPORTATION INSURANCE.
Section 41-608 - RESERVE FOR DISABILITY INSURANCE.
Section 41-609 - LOSS RESERVES, LIABILITY INSURANCE AND WORKER’S COMPENSATION.
Section 41-610 - INCREASE OF INADEQUATE LOSS RESERVES.
Section 41-611 - RESERVE FOR LOSSES AND UNEARNED PREMIUMS — TITLE INSURERS.
Section 41-611A - MORTGAGE GUARANTY INSURANCE — CONTINGENCY RESERVE.
Section 41-612 - STANDARD VALUATION LAW — LIFE INSURANCE.
Section 41-613 - VALUATION OF BONDS.
Section 41-614 - VALUATION OF OTHER SECURITIES.