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2012 Maine Revised Statutes
TITLE 23: HIGHWAYS
Chapter 605: MANAGEMENT AND OPERATION
23 §5186. Holders of unpaid scrip and bonds may foreclose mortgages


23 ME Rev Stat § 5186 (2012 through 125th Legis) What's This?

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

Subchapter 5: RIGHTS OF PURCHASERS UNDER SALE HEADING: PL 1987, C. 141, PT. A, §4 (NEW)

§5186. Holders of unpaid scrip and bonds may foreclose mortgages

A corporation formed by the holders of the scrip or bonds, or if no such corporation has been formed, the holders of not less than a majority of the scrip or bonds, may commence a civil action to foreclose the mortgage and the court may decree a foreclosure thereof, unless the arrears are paid within such time as the court orders. [1987, c. 141, Pt. A, §4 (NEW).]

SECTION HISTORY

1987, c. 141, §A4 (NEW).

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