General Construction Law 25-C — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 25-B Injury to property up ARTICLE 2 Meaning of Terms next SECTION 26 Judge Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 25-C Investment in bond and mortgage or note and mortgage General Construction (GCN) CHAPTER 22, ARTICLE 2 § 25-c. Investment in bond and mortgage or note and mortgage. The term bond and mortgage or the term note and mortgage as heretofore or hereafter used in any statute which prescribes or authorizes investment therein, with or without a specified ratio of real property security, shall be deemed to include a share or part of a bond and mortgage or of a note and mortgage, as the case may be, prior in lien to all other shares and parts thereof and, for all purposes in connection with such an investment in a share or part, any specified ratio of real property security shall be determined on the basis of the investment in such share or part.