Wyoming Statutes
§ 11-34-114 — Limitation on loans; percentages of appraised value
Wyoming·Title 11 Agriculture, Livestock and Other Animals·Ch. 34 STATE LOAN AND INVESTMENT BOARD·Art. 1 IN GENERAL
(a)No loan secured by a first mortgage shall exceed
seventy percent (70%) of the appraised value of the land with
the necessary existing improvements, as ascertained and fixed by
the board except as provided by W.S. 11-34-117. If a loan is
secured by a second mortgage, the sum of the first and second
mortgages shall not exceed eighty percent (80%) of the appraised
value of the land and improvements and the balance due on the
loans secured by the first or second mortgage shall not exceed
eight hundred thousand dollars ($800,000.00). The appraisal
shall be made by the state loan and investment board, with the
advice of two (2) residents of the immediate locality in which
the loan is being considered.
(b)Repealed By Laws 2008, Ch. 42, § 2.
(c)Repealed by Laws 2019, ch. 35, § 2.
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Nearby Sections
15
§ 11-34-101
Definitions§ 11-34-104
Seal; design§ 11-34-105
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Legal advisor§ 11-34-107
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Purposes for which loans authorized§ 11-34-113
Terms and conditions of loans§ 11-34-115
Minimum and maximum amount of loans