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2013 New York Consolidated Laws
GCN - General Construction
Article 2 - (10 - 62) MEANING OF TERMS
25-C - Investment in bond and mortgage or note and mortgage.


NY Gen Const L § 25-C (2012) What's This?
 
    §  25-c.  Investment  in  bond and mortgage or note and mortgage.  The
  term bond and mortgage or the term note and mortgage  as  heretofore  or
  hereafter  used in any statute which prescribes or authorizes investment
  therein, with or without a specified ratio of  real  property  security,
  shall  be deemed to include a share or part of a bond and mortgage or of
  a note and mortgage, as the case may be, prior  in  lien  to  all  other
  shares  and  parts thereof and, for all purposes in connection with such
  an investment in a share or part, any specified ratio of  real  property
  security  shall  be  determined  on  the basis of the investment in such
  share or part.

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