33-10-17. Valuation of mortgage reserves.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Mortgages on real property referred to in subsection (a) of Code Section 33-10-16 shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or 90 percent of the fair value of the real property, whichever is less.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1933, § 56-916, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2019, p. 337, § 1-61/SB 132. The 2019 amendment, effective July 1, 2019, substituted ‘‘Mortgages on real property’’ for ‘‘Purchase money mortgages on real property’’ at the beginning of this Code section.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t33-ch1-22-(v24)-2020-pdf.pdf, Volume V24, 2020 edition, page 505; merge action: carried; file SHA-256 4ecec175d949.