§ 125 — Definitions

§ 125. Definitions. As used in this article, unless the context\nrequires otherwise:\n 1. "Mortgage investments" shall mean and include any and all shares\nand interests, heretofore or hereafter acquired, in an issue of bonds,\nnotes or other evidence of indebtedness of individuals, partnerships,\nassociations or corporations, held by more than one person and secured\nby a mortgage or mortgages upon real property, or by a deed or deeds of\ntrust, trust indenture or indentures or other evidence of interest in\nreal property, the payment of which is not guaranteed by any title and\nmortgage guaranty corporation or investment company and shall include\ncertificates of deposit issued by or on behalf of a bondholders'\nprotective committee or similar group and also any bonds, notes or other\nevidences of indebtedness taken in lieu of such real property by\nforeclosure or otherwise, provided, however, that it shall not include\nindustrial securities. The term "industrial securities" shall be\nconstrued to mean the bonds, debentures, notes or other evidences of\nindebtedness of individuals, partnerships, associations or corporations\nnot engaged in the business of owning, improving or operating real\nproperty but whose ownership of such real property shall be merely\nincidental to the operation and conduct of its business and which real\nproperty shall be used as incidental and additional security for such\nbonds, notes, debentures or other evidences of indebtedness.\n 2. "Bondholder" shall mean and include any person, firm, association\nor corporation owning or holding a mortgage investment.\n 3. "Trustee" shall mean and include any person, firm, association or\ncorporation named, appointed or designated as such in any deed of trust,\ntrust indenture or other similar instrument or any successor of such\ntrustee.\n 4. "Committee" shall mean and include a person or group of persons,\nhowever known or designated, appointed by agreement, assignment, proxy,\nconsent, authorization, power of attorney, or other similar instrument\nto act as an agency to receive and hold mortgage investments deposited\nby bondholders and to administer or do any act in respect to the same\nfor the bondholders.\n 5. "Deposit agreement" shall include any agreement, assignment, proxy,\nconsent, authorization, power of attorney or other similar instrument\nwhereby a mortgage investment is deposited with or assigned to a\ncommittee.\n 6. "Depositary" shall mean and include any person, firm, association\nor corporation designated in any trust indenture, deed of trust, or\ndeposit agreement as the custodian or depositary of mortgage\ninvestments.\n 7. "Property" shall mean and include all of the real property or any\nincidental personal property constituting the underlying security for\nmortgage investments.\n 8. "Court," unless some other court has jurisdiction over the property\nor a plan of reorganization therefor, shall mean the supreme court of\nthe state of New York in the county in which the property or the major\nportion thereof is located, or, if the property be located outside the\nstate, in the county of the state in which the committee, trustee or\nother person dealing with the mortgage investment has or proposes to\nhave his principal office for the transaction of business with respect\nto such mortgage investment.\n