Purchase money mortgages or deeds of trust on real property referred to in Subsection A of Section 132 [59A-8-15 NMSA 1978] of this article shall be valued in an amount not exceeding acquisition cost of the real property covered thereby or ninety percent of the fair value of the real property, whichever is less.
History: Laws 1984, ch. 127, ยง 133.
Structure New Mexico Statutes
Article 8 - Assets and Liabilities
Section 59A-8-1 - "Assets" defined.
Section 59A-8-2 - Assets not allowed.
Section 59A-8-3 - Disallowance of "wash" transactions.
Section 59A-8-4 - Liabilities, in general.
Section 59A-8-5 - Standard valuation law, life insurance and annuities.
Section 59A-8-7.1 - Continued liability after assumption reinsurance transactions.
Section 59A-8-8 - Loss reserves.
Section 59A-8-10 - Unearned premium reserve, marine and transportation insurance.
Section 59A-8-11 - Title insurance reserves.
Section 59A-8-12 - Mortgage guaranty contingency reserve.
Section 59A-8-13 - Valuation of bonds.
Section 59A-8-14 - Valuation of other securities.