§ 227 - Acquisition and disposal of property - Vermont Statutes

§ 227. Acquisition and disposal of property

The authority may take assignments of leases, notes and mortgages securing notes and other forms of security. It may take title to, or possession of, any mortgaged property by foreclosure or conveyance and may sell, lease or rent such mortgaged property for a use other than that specified in the definition of "eligible facility" in this chapter, in accordance with the terms of the insurance contract or an assignment of the mortgage. (Added 1973, No. 197 (Adj. Sess.), § 1; amended 1977, No. 52, § 7, eff. April 22, 1977; 1981, No. 54, § 13, eff. April 28, 1981; 1993, No. 89, § 3(b), eff. June 15, 1993; 1999, No. 25, § 1a.)