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This entry was published on 2014-09-22
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SECTION 95
Judgments against housing companies not relating to mortgage indebtedness
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 4
§ 95. Judgments against housing companies not relating to mortgage
indebtedness. In the event of a judgment against a housing company in
any action not pertaining to the collection of a mortgage indebtedness,
there shall be no sale of any of the real property of such housing
company except upon sixty days' written notice to the commissioner and,
if the municipality has made a loan to the housing company, to the
municipality in which the project is located. Upon receipt of such
notice the commissioner and the municipality shall take such steps as in
its judgment may be necessary to protect the rights of all parties.