632.07 Prohibiting requiring property insurance in excess of replacement value.
632.07
632.07 Prohibiting requiring property insurance in excess of replacement value. A lender may not require a borrower, as a condition of receiving or maintaining a loan secured by real property, to insure the property against risks to improvements on the real property in an amount that exceeds the replacement value or market value of the improvements, whichever is greater.632.07 - ANNOT.
History: 2007 a. 170.