130-A - Restrictions on committees.

§  130-a.  Restrictions on committees. No sale of mortgage investments  by a committee shall be valid unless the fairness of the price  received  at  such  sale  shall  have first been approved by the court except that  where an action to foreclose a mortgage on the property is pending,  the  application  to pass upon the fairness of such price shall be determined  by the court in which such action is  pending.  The  hearing  upon  such  application shall be held at such time and place and upon such notice to  the depositing bondholders as the court shall direct.