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Documents of the Assembly of the State of New York Volume 24

Documents of the Assembly of the State of New York Volume 24


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908-01-01 Excerpt: ...member shall be entitled to withdraw the same without interest within one year upon such notice as shall be required of a withdrawing shareholder, and upon failure to so withdraw the same, then, and in that case, it may revert to the association. 181. Loans in default for arrearages.--Whenever a borrowing-shareholder shall be in arrears in the payment of his dues, interest or premium two months, the whole loan shall become due at the option of the board of directors, and they may proceed to enforce collection upon the securities held by the association. The withdrawal value at the time of the commencement of the action of all shares pledged as collateral security for the loan, shall be applied upon the loan and arrearages of interest, premium and fines thereon, and the shares deemed surrendered to the association. 182. May purchase at foreclosure sale.--Any corporation incorporated under the provisions of this article or under the provisions of either of the repealed acts hereafter enumerated in section one hundred and ninety-two of this chapter may purchase at any sale, public or private, any real estate upon which it may have a mortgage, judgment lien or other incumbrance, taken or obtained in good faith in the regular transaction of the business of the association, and may sell, exchange, convey, lease or mortgage the same or any real estate it now owns at pleasure to any person or persons; it may also hold and own real estate for the purpose of occupying the same with its own business office. Except that no exchange of real estate shall be made except by the unanimous vote of the directors of the corporation making such exchange, and no such exchange shall be made upon a basis involving the payment by said corporation of any differen...


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Product Details
  • ISBN-13: 9781130958447
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 328
  • Spine Width: 18 mm
  • Width: 189 mm
  • ISBN-10: 1130958442
  • Publisher Date: 01 Mar 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 585 gr


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