"Mortgage guaranty insurance" is insurance against financial loss by reason of nonpayment of principal, interest, rent or other sums agreed to be paid under the terms of any note, bond, lease, or other evidence of indebtedness constituting a charge on real estate, or secured by mortgage, deed of trust, or other instrument constituting a lien on real estate.
KRS 304.5-100
"Mortgage guaranty insurance" defined
Applied in 1 court decision — leading case Alliant Tax Credit Fund 31-A, Ltd. v. Nicholasville Community Housing, LLC (2009)
Most recently applied in Alliant Tax Credit Fund 31-A, Ltd. v. Nicholasville Community Housing, LLC (September 2009)
Effective: June 18, 1970 History: Created 1970 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.