By the terms of purchase, it may be further provided that the purchaser at a foreclosure sale under such mortgage or deed of trust shall have a franchise for not exceeding 30 years to operate such plant.
Ala. Code § 11-50-7
Provision in Purchase Agreement as to Franchise Right of Purchaser at Foreclosure Sale.
(Code 1907, §1263; Code 1923, §2005; Code 1940, T. 37, §366.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.