Statute · New York Real Property Law
N.Y. Real Prop. Law § 130-a — Restrictions on committees
N.Y. Real Prop. Law § 130-a
- Type
- Statute
- Source
- New York Real Property Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 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…
Citator
N.Y. Real Prop. Law § 130-a — Restrictions on committees is in force in the current edition of the Code, and nothing recorded condemns it.
§ 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.