11-34-118. Refinancing delinquent loans; payment of costs; additional fee.
The board, whenever it deems necessary for the better protection of permanent funds of the state invested in farm loans, may refinance any delinquent farm mortgage loan and reamortize the loan over not more than thirty (30) years from the date of refinancing. All costs of refinancing the loan, including the cost of having the abstract brought down to date, shall be paid by the mortgagor and no loan shall be refinanced where it appears refinancing will jeopardize the collection of the loan. An additional fee of one percent (1%) of the amount of the reamortized loan shall be paid by each mortgagor to the board to be credited to the loss reserve account as provided by W.S. 11-34-202(e).
Structure Wyoming Statutes
Title 11 - Agriculture, Livestock and Other Animals
Chapter 34 - State Loan and Investment Board
Section 11-34-101 - Definitions.
Section 11-34-104 - Seal; Design.
Section 11-34-105 - Chief Executive Officer; Powers and Duties.
Section 11-34-106 - Legal Advisor.
Section 11-34-107 - Quorum; Loan; Votes Required; Record.
Section 11-34-108 - Loans on Lands Subject to Preexisting Liens; Effect.
Section 11-34-109 - Purposes for Which Loans Authorized.
Section 11-34-110 - Limitations on Borrowers; Due on Sale Clause; Sale of Mortgaged Land.
Section 11-34-111 - Application for Loan; Form; Contents; Priority of Applications.
Section 11-34-113 - Terms and Conditions of Loans.
Section 11-34-114 - Limitation on Loans; Percentages of Appraised Value.
Section 11-34-115 - Minimum and Maximum Amount of Loans.
Section 11-34-117 - Rates of Interest; Length of Loan; Amount.
Section 11-34-118 - Refinancing Delinquent Loans; Payment of Costs; Additional Fee.
Section 11-34-119 - Ultra Vires Acts of Agent.
Section 11-34-120 - Mortgages Taken by Board; Control and Disposition of Property.
Section 11-34-122 - Release of Mortgage.
Section 11-34-123 - Foreclosure Proceedings; Duty of Attorney General; Deed in Lieu of Foreclosure.
Section 11-34-126 - Exemption of Property of Board From Taxation; Exceptions.
Section 11-34-127 - Surety Bonds; Generally.
Section 11-34-128 - Surety Bonds; Payment of Cost.
Section 11-34-129 - Investment of Permanent Funds.
Section 11-34-130 - Trespass Upon Lands Owned by Board Prohibited; Penalties.
Section 11-34-131 - Wyoming Transportation Enterprise Account; Use Thereof.