Sec. 2.5. A mortgagee or a mortgagee's assignee or representative may not require a mortgagor, as a condition of receiving or maintaining a mortgage, to obtain hazard insurance coverage against risks to improvements on the mortgaged property in an amount exceeding the replacement value of the improvements.
As added by P.L.73-2004, SEC.45.
Structure Indiana Code
Chapter 1. Mortgage of Real Estate
32-29-1-0.2. Application of Prior Law
32-29-1-1. Possession Premises
32-29-1-2. Construction of Mortgage
32-29-1-4. Purchase Money Mortgage
32-29-1-6. Payment in Full; Release and Discharge of Mortgage
32-29-1-7. Certificate of Payments and Satisfaction
32-29-1-8. Assignment of Mortgage