20-472. Service charges in connection with
insurance on collateral security prohibited when change of
ownership


It is unlawful for a mortgagee to require the payment of any insurance service
charge for services performed in changing of the mortgagee's records and accounts with
regard to a change in ownership of the insured property held as security by the mortgagee
and with regard to which the mortgagee issues a written beneficiary statement or
assumption statement.