New Jersey § 55:17-10 Liberal construction

New Jersey Statutes

§ 55:17-10 — Liberal construction

New Jersey § 55:17-10

Title 55TENEMENT HOUSES AND PUBLIC HOUSING

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Bluebook

N.J. Stat. Ann. § 55:17-10 (2026).

Text

The provisions of this act shall be liberally construed in order that holders of mortgage loans on projects may rely, in the event of a default of foreclosure, upon the continuation of terms and provisions of the lease or financial arrangements evaluated at the time of the making of the loan to determine its financial feasibility, and in case of any conflict between the provisions of any statute authorizing such leases or financial arrangements and the provisions of this act, this act shall prevail. L.1967, c. 304, s. 10, eff. Feb. 15, 1968.

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The provisions of this act shall be liberally construed in order that holders of mortgage loans on projects may rely, in the event of a default of foreclosure, upon the continuation of terms and provisions of the lease or financial arrangements evaluated at the time of the making of the loan to determine its financial feasibility, and in case of any conflict between the provisions of any statute authorizing such leases or financial arrangements and the provisions of this act, this act shall prevail. L.1967, c. 304, s. 10, eff. Feb. 15, 1968.