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2012 Maine Revised Statutes
TITLE 23: HIGHWAYS
Chapter 605: MANAGEMENT AND OPERATION
23 §5167. Application of funds

Universal Citation:
23 ME Rev Stat § 5167 (2012 through 125th Legis)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Part 7: RAILROADS HEADING: PL 1987, C. 141, PT. A, §4 (NEW)

Subchapter 4: FORECLOSURE AND REDEMPTION OF MORTGAGES HEADING: PL 1987, C. 141, PT. A, §4 (NEW)

§5167. Application of funds

The directors shall apply the money realized from the assessments solely to the redemption of the prior mortgage until it is fully paid and then all the property, rights and interests secured by the mortgage vest in the new corporation. [1987, c. 141, Pt. A, §4 (NEW).]

SECTION HISTORY

1987, c. 141, §A4 (NEW).

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