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2016 Statute



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16a-2-307.(UCCC) Restrictions on interest in land as security. With respect to a consumer loan in which the finance charge exceeds 12% and the amount financed is $3,000 or less, a lender may not contract for an interest in land as security. A security interest taken in violation of this section is void.

History: L. 1973, ch. 85, § 24; L. 1999, ch. 107, § 14; July 1.



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2017. Powered by KLISS. Rendered: 2017-11-15T17:43:00. Head Rev No: 337697