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The Laws of New York
Consolidated Laws of New York
CHAPTER 50
Real Property
ARTICLE 4-A
Trust Indentures and Interests Therein
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SECTION 129
No deposit agreement shall be valid or binding which does not set forth the following provisions for the protection of the bondholders: (...
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ARTICLE 4-A
Trust Indentures and Interests Therein
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SECTION 130-B
Managing agents and management companies
This entry was published on 2014-09-22
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SECTION 130-A
Restrictions on committees
Real Property (RPP) CHAPTER 50, ARTICLE 4-A
§ 130-a. Restrictions on committees. No sale of mortgage investments
by a committee shall be valid unless the fairness of the price received
at such sale shall have first been approved by the court except that
where an action to foreclose a mortgage on the property is pending, the
application to pass upon the fairness of such price shall be determined
by the court in which such action is pending. The hearing upon such
application shall be held at such time and place and upon such notice to
the depositing bondholders as the court shall direct.