Section 299:1 – Franchises.

    299:1 Franchises. – A corporation which may lawfully mortgage its property may also include its franchises in such mortgage. Source. 1905, 61:1. PL 230:1. RL 279:1.

Section 299:2 – After-Acquired Property.

    299:2 After-Acquired Property. – Except as otherwise provided, corporate mortgage security for bonded or other indebtedness may include after-acquired property of the following classes: Real estate, franchises, fixtures, machinery and rolling stock. Source. 1901, 66:1. 1905, 111:1. PL 230:2. RSA 299:2. 1959, 247:2, eff. July 1, 1961.

Section 299:3 – Effect.

    299:3 Effect. – Such mortgage of after-acquired property shall not affect any builders’ or other lien. Source. 1901, 66:1. 1905, 111:1. PL 230:3. RL 279:3.

Section 299:4 – Foreclosure Sales; Franchises.

    299:4 Foreclosure Sales; Franchises. – The foreclosure of a mortgage of any corporation organized under the laws of this state shall inure to the benefit of the holders of bonds, coupons and other claims secured thereby, and whenever the franchises of the corporation are included in the mortgage with power of sale and foreclosure […]

Section 299:5 – Conveyance by Trustee.

    299:5 Conveyance by Trustee. – The trustee under such mortgage may, by auction sale, convey to said purchaser or to said new corporation all the right, title and interest under the mortgage and by virtue of the foreclosure thereof, and thereupon said trustees shall be discharged. Source. 1895, 52:1. PL 230:5. RL 279:5.

Section 299:6 – First Meeting.

    299:6 First Meeting. – The new corporation may call its first meeting in the manner provided for calling the first meeting of the original corporation, or any such purchaser may call the same by publication in some newspaper published in the city of Concord. Source. 1895, 52:2. PL 230:6. RL 279:6.

Section 299:7 – Powers.

    299:7 Powers. – It may use the old corporate name, or adopt a new one, by which it shall thereafter be known; may issue capital stock, as the directors may determine, in an amount not exceeding the purchase price at the foreclosure sale; shall file a certificate with the secretary of state, signed by […]