Section 12-405 - Power of authority to vest rights in obligee.
§ 12-405. Power of authority to vest rights in obligee.
This subtitle does not limit the power of an authority to vest in an obligee the right, if the authority defaults, to:
(1) take possession of a housing project;
(2) have a receiver of a housing project appointed; or
(3) acquire title to a housing project, through foreclosure or otherwise, free from all restrictions of this subtitle.
[An. Code 1957, art. 44A, § 1-403; 2006, ch. 63, § 2.]