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.
N.J. Stat. Ann. § 26:2I-30
Power of health care organization to mortgage, pledge property, income
Known as the New Jersey Health Care Facilities Financing Authority Law
The act spans §§ 26:2I-1 to 26:2I-9 (44 sections).
L.1972,c.29,s.30; amended 1997, c.435, s.15; 2000, c.98, s.5.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.