Statute · New York General Construction Law
N.Y. Gen. Constr. Law § 25-c — Investment in bond and mortgage or note and mortgage
N.Y. Gen. Constr. Law § 25-c
- Type
- Statute
- Source
- New York General Construction Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 25-c. Investment in bond and mortgage or note and mortgage. The term bond and mortgage or the term note and mortgage as heretofore or hereafter used in any statute which prescribes or authorizes investment therein, with or without a specified ratio of real property security, shall be deemed…
Citator
N.Y. Gen. Constr. Law § 25-c — Investment in bond and mortgage or note and mortgage is in force in the current edition of the Code, and nothing recorded condemns it.
§ 25-c. Investment in bond and mortgage or note and mortgage. The term bond and mortgage or the term note and mortgage as heretofore or hereafter used in any statute which prescribes or authorizes investment therein, with or without a specified ratio of real property security, shall be deemed to include a share or part of a bond and mortgage or of a note and mortgage, as the case may be, prior in lien to all other shares and parts thereof and, for all purposes in connection with such an investment in a share or part, any specified ratio of real property security shall be determined on the basis of the investment in such share or part.