Service of mortgages held in trusts

Act 173 of 1990, § 5, under FRANKLIN INSTITUTE AND COMMONWEALTH FOUNDATIONS - TRAINING.

Act 173 of 1990, § 5

Section 5. Service of mortgages held in trusts.

(a) Sale or service.--The Commonwealth may sell, service or contract for the servicing of any mortgages presently held in the Trusts of Benjamin Franklin and John Scott.

(b) Distribution of proceeds.--The proceeds from any mortgage serviced by the Commonwealth or its agent shall be distributed as provided in this act.