Kentucky Statutes 304.23-040 – Advertising “insured loans” — Conditions
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No bank, savings and loan association, insurance company or other lending institution, any of whose authorized real estate securities are insured by mortgage guaranty insurance companies may state in any brochure, pamphlet, report or any form of advertising that the real estate loans of the bank, savings and loan association, insurance company or other lending institution are “insured loans” unless the brochure, pamphlet, report or advertising also clearly states that the loans are insured by private insurers and the names of the private insurers are given and shall not make any such statement at all unless such insurance is by an insurer authorized to write this coverage in this state.
Effective: June 18, 1970
History: Created 1970 Ky. Acts ch. 301, subtit. 23, sec. 4, effective June 18, 1970.
Effective: June 18, 1970
Terms Used In Kentucky Statutes 304.23-040
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
History: Created 1970 Ky. Acts ch. 301, subtit. 23, sec. 4, effective June 18, 1970.