17-5514. Loan expenses which association may require borrower to pay; statement.
17-5514
17-5514. Loan expenses which association may require borrower to pay;
statement.
Every association may require borrowing members to pay all reasonable
expenses incurred in connection with the making, closing, disbursing,
extending, readjusting or renewing of real-estate loans. Upon the closing
of the loan, the association shall furnish to each borrower a loan
settlement statement stating in detail the charges or fees such borrower
has paid, or obligated himself to pay to the association or to any person
representing the association in connection with such loan, and a copy of
such statement shall be retained in the records of the association.
History: L. 1943, ch. 133, § 92; L. 1953, ch. 135, § 1; June 30.