Pennsylvania § 4316 - Other liens affecting cooperative.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 4316 — Other liens affecting cooperative., with citation guidance and answers to common questions.
§ 4316. Other liens affecting cooperative.
(a) General rule.--Property of a proprietary lessee other than his cooperative interest is not subject to claims of the association's creditors, whether or not his cooperative interest is subject to those claims.
(b) Notice of foreclosure.--If the association receives notice of an impending foreclosure on all or any portion of the association's real estate, the association shall promptly transmit a copy of that notice to each proprietary lessee of a unit located within the real estate to be foreclosed and to the holder of the first security interest encumbering the cooperative interest with respect to such unit. Failure of the association to transmit the notice does not affect the validity of the foreclosure.
Cross References. Section 4316 is referred to in sections 4102, 4311 of this title.
Frequently Asked Questions About Pennsylvania § 4316
What does Pennsylvania Consolidated Statutes § 4316 cover?
Section 4316 ("Other liens affecting cooperative.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 4316?
A common citation format is "Pennsylvania Consolidated Statutes § 4316" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 4316 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.