Session Laws

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Subdivision (E) of section 24 of chapter 171 of the General Laws is hereby amended by striking out clauses (c) and (d), as most recently amended by section 3 of chapter 223 of the acts of 1982, and inserting in place thereof the following two clauses:- (c) the principal amount of such loan, excluding interest and other costs, shall not exceed eighty per cent of the purchase price of such mobile home, excluding any taxes, transportation expenses, insurance premiums, registration fees and other costs paid or required to be paid by the purchaser in connection with such purchase, or thirty-five thousand dollars, whichever is less; (d) such loan is required to be repaid in substantially equal monthly installments within a period of not more than twenty-five years after the date of such purchase.