§431:6-307  Mortgage loan limited byproperty value.  (a)  No mortgage loan or investment therein upon any oneparcel of real property shall exceed in amount at the time of acquisition:

(1)  Eighty per cent of the fair value of the propertyif the property is a dwelling house primarily intended for occupancy by onefamily, and the loan is required to be amortized within not more than thirtyyears by payment of installments thereon, at regular intervals not lessfrequent than every three months; or

(2)  Seventy-five per cent of the fair value of theproperty in all other cases.

(b)  The extent to which a mortgage loan madeunder section 431:6-306(3) is guaranteed or insured by an agency of the UnitedStates, may be deducted before application of the limitations in subsection(a). [L 1987, c 347, pt of §2]