Mortgage Insurance Act.
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LEX-FAOC088149
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This Act grants power to the Jamaica Mortgage Bank to effect contracts of insurance for loans insurable under this Act. Loans include loans for the purchase of agricultural land and loans secured by a first mortgage on agricultural land or not exceeding twenty-five years in term. The Act also provides for criteria and procedures for the execution of the insurance. The Bank shall establish a Mortgage Insurance Fund for purposes of this Act.
Implemented by: Mortgage Insurance Regulations. (1986)
Amended by: Mortgage Insurance (Amendment) Act (No. 19 of 2014). (2014-12-23)