- (a) A mortgage company shall not make a covered transaction with an interest in land as security with an amount financed of $5,000 or less in which the annual percentage rate of the loan exceeds the code mortgage rate. A security interest taken in violation of this section shall be void.
- (b) This section shall be a part of and supplemental to the Kansas mortgage business act.
L. 2024, ch. 6, § 4; January 1, 2025.