Section 9-424 - Expenses charged borrowers.
§ 9-424. Expenses charged borrowers.
(a) Authority in general.- A savings and loan association may require a borrower to pay all charges in connection with a loan to the borrower.
(b) Memorandum of settlement.- At each settlement, a savings and loan association shall give the borrower a memorandum of settlement that details each charge made in connection with the settlement.
(c) Application to laws of usury.- This section does not modify the usury laws of this State.
[An. Code 1957, art. 23, § 161GG; 1980, ch. 856; 1986, ch. 282.]