353.120. Transfer by fiduciaries and public agencies of real property to a redevelopment corporation.
Transfer by fiduciaries and public agencies of real property to aredevelopment corporation.
353.120. Notwithstanding any requirement of law to the contrary, or theabsence of direct provision therefor in the instrument under which a fiduciaryis acting, every executor, administrator, trustee, guardian or any otherperson, holding trust funds or acting in a fiduciary capacity, unless theinstrument under which such fiduciary is acting expressly forbids, also thestate, its subdivisions, cities, all other public bodies, all public officers,corporations, organized under or subject to the provisions of the banking law(including savings banks, savings and loan associations, trust companies,private bankers and private banking corporations), the state director offinance as conservator, liquidator or rehabilitator of any such person,partnership or corporation, person, partnership and corporations organizedunder or subject to the provisions of the insurance law, the director of thedepartment of insurance, financial institutions and professional registrationas conservator, liquidator, or rehabilitator of any such person, partnershipor corporation, any of which owns or holds any real property within anyblighted area proposed to be cleared or redeveloped by an urban redevelopmentcorporation, may grant, sell, lease or otherwise transfer any such realproperty to an urban redevelopment corporation, and receive and hold any cash,mortgages, or other securities or obligations exchanged therefor by such urbanredevelopment corporations, and may execute such instruments and do such actsas may be deemed necessary or desirable by them or it and by the urbanredevelopment corporations in connection with the development and anydevelopment plan.
(L. 1943 p. 751 § 18, A.L. 1945 p. 1242 § 11)