§ 9-424. Expenses charged borrowers

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(a) Authority in general. -- A savings and loan association may require a borrower to pay all charges in connection with a loan to the borrower.

(b) Memorandum of settlement. -- At each settlement, a savings and loan association shall give the borrower a memorandum of settlement that details each charge made in connection with the settlement.

(c) Application to laws of usury. -- This section does not modify the usury laws of this State.

HISTORY: An. Code 1957, art. 23, § 161GG; 1980, ch. 856; 1986, ch. 282.

                    
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