To repeal section 443.415, RSMo Supp. 1999, relating to mortgage insurers, and to enact in lieu thereof one new section relating to the same subject.
Section A. Section 443.415, RSMo Supp. 1999, is repealed and one new section enacted in lieu thereof, to be known as section 443.415, to read as follows:
443.415. Mortgage insurers may insure a mortgage in an amount not exceeding [ninety-seven] one hundred percent of the
fair market value of the authorized real estate security at the time that the loan is made if secured by a first lien or charge on
such real estate security.