Section 151. When comptroller shall bid in premises

If on a sale on any
  such foreclosure, there is not bid  and  paid  or  received  the  amount
  unpaid  on  the  mortgage,  for principal and interest and the costs and
  expenses of the foreclosure, the comptroller may cause the  sale  to  be
  postponed  and have the value of the premises appraised by two competent
  and disinterested persons selected by him. If the premises are appraised
  at a sum equal to or exceeding the amount unpaid to the state, including
  the costs  of  the  foreclosure  and  expenses  of  the  appraisal,  the
  comptroller on the sale thereof, shall bid for the state such amount, if
  necessary  to  prevent  a  sale  of  the premises at a less sum.  If the
  premises are appraised at a sum less than such amount,  the  comptroller
  may  bid the amount of the appraisement and no more. If the premises are
  struck off for a sum less than such amount,  no  greater  sum  shall  be
  credited  to  the mortgagor or any other person, on account of such sale
  than the sum bid for the premises sold, deducting  therefrom  all  costs
  and  expenses  of the sale and appraisal. The appraisers shall receive a
  reasonable compensation  for  their  services,  to  be  allowed  by  the
  comptroller and paid out of the treasury.