North Dakota § 49-09-10 Title acquired under sale

North Dakota Statutes

§ 49-09-10 — Title acquired under sale

North Dakota·Title 49 Public Utilities·Ch. 49-09 Acquiring and Transferring Utility Property

Whenever the persons securing title under a trust deed or mortgage foreclosure sale shall
own or represent a majority in amount of the bonds or other evidences of debt secured by any
such trust deed or mortgage, and also shall include the persons who owned a majority in
amount of the capital stock of such mortgagor corporation at the time of the sale, such
purchasers and such corporation as they shall organize also shall have, possess, and enjoy any
exemption, privilege, or immunity previously granted by any law to such former corporation
relating to any of the property so acquired to the same extent as if such latter corporation had
been named in such law as the grantee thereof.

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Whenever the persons securing title under a trust deed or mortgage foreclosure sale shall
own or represent a majority in amount of the bonds or other evidences of debt secured by any
such trust deed or mortgage, and also shall include the persons who owned a majority in
amount of the capital stock of such mortgagor corporation at the time of the sale, such
purchasers and such corporation as they shall organize also shall have, possess, and enjoy any
exemption, privilege, or immunity previously granted by any law to such former corporation
relating to any of the property so acquired to the same extent as if such latter corporation had
been named in such law as the grantee thereof.

North Dakota § 49-09-10 (Title acquired under sale) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.