Arizona Revised Statutes § 20-475 Reasonable Requirements Of Security Holder Are Valid

20-475. Reasonable requirements of security holder are valid

Nothing in this article shall prevent a mortgagee, lender, vendor, or holder from requiring insurance on the collateral security for a loan or exercising a reasonable privilege of approval or disapproval of the insurance provided for such purpose by the borrower, mortgagor or purchaser.

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Last modified: October 13, 2016