§ 11-34-118 — Refinancing delinquent loans; payment of costs; additional fee

The board, whenever it deems necessary for the better protection
of permanent funds of the state invested in farm loans, may
refinance any delinquent farm mortgage loan and reamortize the
loan over not more than thirty (30) years from the date of
refinancing. All costs of refinancing the loan, including the
cost of having the abstract brought down to date, shall be paid
by the mortgagor and no loan shall be refinanced where it
appears refinancing will jeopardize the collection of the loan.
An additional fee of one percent (1%) of the amount of the
reamortized loan shall be paid by each mortgagor to the board to
be credited to the loss reserve account as provided by W.S.
11-34-202(e).