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This entry was published on 2014-09-22
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Mortgagee may purchase at foreclosure sale
Railroad (RRD) CHAPTER 49, ARTICLE 4
§ 151. Mortgagee may purchase at foreclosure sale. Any mortgagee of
the property and franchises of any railroad corporation may become the
purchaser of the same at any sale thereof under the mortgage, upon
foreclosure by advertisement, or under a judgment, or decree, or
otherwise, and hold and use the same, with all the rights and privileges
belonging thereto or connected therewith for the period of six months,
and convey the same to any railroad corporation.