§ 48.12.200. Valuation of purchase money mortgages
(1) Purchase money mortgages shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or ninety percent of the fair value of such real property, whichever is less.
(2) The commissioner has full discretion in determining the method of calculating values according to the rules set forth in this section, and consistent with such methods as then adopted by the National Association of Insurance Commissioners.
[1993 c 462 § 56; 1947 c 79 § .12.20; Rem. Supp. 1947 § 45.12.20.]
Notes:
Severability -- Implementation -- 1993 c 462: See RCW 48.31B.901 and 48.31B.902.
Sections: Previous 48.12.100 48.12.110 48.12.140 48.12.154 48.12.156 48.12.158 48.12.160 48.12.162 48.12.164 48.12.166 48.12.168 48.12.170 48.12.180 48.12.190 48.12.200
Last modified: April 7, 2009