Section 302-B. Removal of violations by mortgagees  


Latest version.
  • 1.  Notwithstanding any
      other  provision  of  law,  where  a  receiver  has  been  appointed  in
      foreclosure  proceedings  instituted  by a mortgagee with respect to any
      multiple dwelling, such mortgagee may advance  to  such  receiver  funds
      necessary for the operation of such multiple dwelling and for the making
      of   repairs   therein   necessary  to  remove  conditions  constituting
      violations of this chapter. Such receiver shall, to the extent possible,
      repay any and all such advances from income received by him with respect
      to the property and, if such income is insufficient to  permit  complete
      repayment  of such advances, any amounts which cannot be so repaid, with
      interest, shall be added to the amount of the  lien  of  such  mortgagee
      upon  entry  of  a  foreclosure  judgment,  provided, however, that such
      amounts shall not be the basis for any additional personal liability  on
      the part of the mortgagor.
        2.  Notwithstanding any other provisions of law, a mortgagee advancing
      funds to a receiver pursuant to subdivision one of this section shall be
      liable only for gross and willful negligence with respect to any  repair
      made at his direction and with funds so advanced.