Code of Alabama - Title 11: Counties and Municipal Corporations - Section 11-50-7 - Provision in purchase agreement as to franchise right of purchaser at foreclosure sale
Section 11-50-7 - Provision in purchase agreement as to franchise right of purchaser at foreclosure sale.
By the terms of purchase, it may be further provided that the purchaser at a foreclosure sale under such mortgage or deed of trust shall have a franchise for not exceeding 30 years to operate such plant.