28-43-309. RESTRICTIONS ON INTEREST IN LAND AS SECURITY. With respect to a regulated consumer loan in which the principal is one thousand dollars ($1,000) or less, a regulated lender may not contract for an interest in land as security. A security interest taken in violation of this section is void.
History:
[28-43-309, added 1983, ch. 119, sec. 3, p. 285.]