New Jersey Statutes
§ 18A:56-12 — Mortgage foreclosure proceedings
New Jersey·Title 18A EDUCATION
The board of trustees shall cause actions to foreclose to be commenced without delay whenever the interest on bonds secured by mortgage held by the board as part of the school fund shall remain unpaid for six months. The board may discontinue the actions upon the payment of accrued interest and the costs of such actions. L.1967, c.271.
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Nearby Sections
15
§ 18A:56-10
Stamp of ownership on coupon bonds§ 18A:56-11
Investment in bonds secured by mortgages§ 18A:56-12
Mortgage foreclosure proceedings§ 18A:56-13
Purchase of lands by board on foreclosure§ 18A:56-14
Sale of real estate held or acquired§ 18A:56-17
Short title§ 18A:56-18
Legislative finding and declaration§ 18A:56-2
Secretary of board; records§ 18A:56-20
School bond legend.§ 18A:56-21
Schools facilities financing reserve