Subordination of rights and suspension of reverter

Act 53 of 1991, § 6, under CONVEYANCE - SHAMOKIN STATE GENERAL HOSPITAL TO LOWER ANTHRACITE COMMUNITY HOSPITAL CORPORATION.

Act 53 of 1991, § 6

Section 6. Subordination of rights and suspension of reverter.

(a) Nothing in this act shall preclude the Commonwealth from subordinating its right of reentry in section 4 or its right of reverter in section 5 to liens securing indebtedness incurred by Lower Anthracite Community Hospital Corporation in connection with the uses prescribed in section 5(a).

(b) The Commonwealth shall suspend the automatic reverter contained in section 5(a), for a period of up to 60 days from receipt of notice specifying the violation from the Secretary of Public Welfare, to permit a lender to cure or cause the cure of a violation of section 5(a) if the suspension is required to secure financing for Lower Anthracite Community Hospital Corporation.

Compiler's Note: The Secretary of Public Welfare, referred to in this section, was redesignated as the Secretary of Human Services by Act 132 of 2014.