New Jersey Statutes 26:2I-30. Power of health care organization to mortgage, pledge property, income
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Terms Used In New Jersey Statutes 26:2I-30
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
30. For the purpose of obtaining and securing loans under section 29 of P.L.1972, c.29 (C. 26:2I-29) or subsection s. of section 5 of P.L.1972, c.29 (C. 26:2I-5), every health care organization shall have power to mortgage and pledge any of its real or personal property, and to pledge any of its income from whatever source to repay the principal of and interest on any loan made to it by the authority or to pay the interest on and principal and redemption premium, if any, of any bond or other evidence of indebtedness evidencing the debt created by any such loan; provided that the foregoing shall not be construed to authorize actions in conflict with specific legislation, trusts, endowment, or other agreements relating to specific properties or funds.
L.1972,c.29,s.30; amended 1997, c.435, s.15; 2000, c.98, s.5.