2017 New Jersey Revised Statutes
TITLE 18A - EDUCATION
Section 18A:56-12 - Mortgage foreclosure proceedings
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.