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New Jersey Statutes, Title: 18A, EDUCATION
Chapter 56: "Trustees for support of public schools" ; how constituted
Section: 18A:56-12: Mortgage foreclosure proceedings
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.
This section added to the Rutgers Database: 2012-09-26 13:37:47.
Older versions of 18a:56-12 (if available):
Court decisions that cite this statute:
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