Section 34-27.1-1. – Payment of mortgage proceeds to subcontractors and materialmen.
§ 34-27.1-1. Payment of mortgage proceeds to subcontractors and materialmen. (a) In any construction mortgage loan, where the original face amount of the loan is under five hundred thousand dollars ($500,000), the mortgagee may pay all or any portion of the mortgage loan to the owner, or lessee, as the case may be, at any […]