New York Real Property Law Article 4-A - TRUST INDENTURES AND INTERESTS THEREIN

  • 124 - Purpose and Application of Article.
    It is the purpose of the legislature, in enacting this article, to provide for the regulation and supervision of the appointment, creation, agreements, acts, conduct,...
  • 125 - Definitions.
    As used in this article, unless the context requires otherwise: 1. "Mortgage investments" shall mean and include any and all shares and interests, heretofore or...
  • 126 - Trust Indentures.
    No trustee shall hereafter accept a trust under any trust indenture or mortgage within the contemplation of this article or act as trustee thereunder unless...
  • 127 - Restrictions on Trustees.
    1. No trustee shall accept a trust or act as trustee under a trust mortgage affecting any property in which he or any of the...
  • 128 - Minimum Bid of Trustee At Sale on Foreclosure to Be Fixed by Court.
    Notwithstanding any inconsistent provision of law, on application for judgment of foreclosure and sale in an action brought to foreclose a trust indenture, deed of...
  • 129
    129. No deposit agreement shall be valid or binding which does not set forth the following provisions for the protection of the bondholders: (a) That...
  • 130-a - Restrictions on Committees.
    No sale of mortgage investments by a committee shall be valid unless the fairness of the price received at such sale shall have first been...
  • 130-b - Managing Agents and Management Companies.
    1. A person, firm, association or corporation appointed, designated or employed by a trustee entering or taking possession of mortgaged property to collect rents from,...
  • 130-c - Voting Trustees and Voting Trust Agreements.
    1. No trustee or member of a committee or the attorney of such trustee or committee or any employee of either shall be eligible to...
  • 130-d - Fees and Allowances.
    In the event of a default in a trust indenture necessitating the sequestration of the rents and income of the property covered thereby and where...
  • 130-e - Removal of Trustees, Committees or Depositaries.
    A trustee, committee or any member thereof and a depositary may be removed by the court for cause shown upon the application of any person...
  • 130-f - Actions for Accounting by Minority Groups; Expenses Thereof.
    In any special proceeding or action brought by or on behalf of any minority bondholder or group of minority bondholders, or any person or group...
  • 130-g - Violations and Penalties.
    The wilful violation of any provision of this article, except section one hundred and twenty-six unless elsewhere otherwise defined, shall constitute a misdemeanor and shall...
  • 130-h - Construction of Article.
    This article shall be construed liberally to effectuate its purpose. The enumeration by this article of specific powers and duties in trust indentures and other...
  • 130-i - Separability.
    If any of the provisions of this article or the application thereof to any person or circumstance be held invalid, such invalidity shall not affect...
  • 130-j - Right to Appeal.
    Any person aggrieved by any determination hereunder shall have such right of appeal as is granted to a party to a special proceeding. All proceedings...
  • 130-k - Exemptions From Restrictions on Trustees and Trust Indentures.
    The provisions of sections one hundred and twenty-six and one hundred and twenty-seven of this article shall not apply to any mortgage, deed of trust,...

Last modified: February 3, 2019