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Current as of January 01, 2025 | Updated by Findlaw Staff
An Authority shall have power by its resolution, trust, indenture, mortgage, lease or other contract to confer upon any obligees holding or representing a specified percentage in bonds, or holding a lease, the right, in addition to all rights that may otherwise be conferred, upon the happening of an event of default as defined in such resolution or instrument, by suit, action or proceeding in any court of competent jurisdiction.--
(a) To obtain the appointment of a receiver of any real property of the Authority and of the rents and profits therefrom. If such receiver be appointed, he may enter and take possession of such real property, operate the same and collect and receive all revenues or other income thereafter arising therefrom, and shall keep such moneys in a separate account and apply the same in accordance with the obligations of the Authority as the court shall direct;
(b) To require the Authority, and the members thereof, to account as if it and they were the trustees of an express trust.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 35 P.S. Health and Safety § 1717. Additional remedies conferrable by Authority - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-35-ps-health-and-safety/pa-st-sect-35-1717/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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