17-5508.   Association payments for protection ofloans; addition to unpaid balance of loan.An association may pay taxes, assessments, insurance premiums and othersimilar charges for the protection of its real-estate loans. All suchpayments shall be added to the unpaid balance of the loan and shall beequally secured by the first lien on the property.

      History:   L. 1943, ch. 133, § 86; July 1.