58-2267. Same; construction of act.

58-2267

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 22.--CONVEYANCES OF LAND

      58-2267.   Same; construction of act.Nothing in this act shall be construed as preventing a mortgagee,lender, vendor, or holder from requiring insurance on the collateral forany financial transaction that is not otherwise specifically prohibited bylaw and exercising a reasonable privilege of approval or disapproval of theinsurance provided for such purpose by the borrower, mortgagor orpurchaser.

      History:   L. 1961, ch. 298, § 4; June 30.