537.2307 - RESTRICTIONS ON INTEREST IN LAND AS SECURITY.

        537.2307  RESTRICTIONS ON INTEREST IN LAND AS      SECURITY.         With respect to a supervised loan in which the rate of finance      charge is in excess of fifteen percent computed according to the      actuarial method, and the amount financed is two thousand dollars or      less, a lender may not contract for a security interest in real      property used as a residence for the consumer or the consumer's      dependents.  A security interest taken in violation of this section      is void.  
         Section History: Early Form
         [C75, 77, 79, 81, § 537.2307]         Referred to in § 535.10, 537.5201