Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
as follows:
SECTION 1. Section 8 of chapter 61 of the General Laws, as appearing in the 1984 Official Edition, is hereby amended by striking out, in line 13, the word "sixty" and inserting in place thereof the words:- one hundred and twenty.
SECTION 2. Said section 8 of said chapter 61, as so appearing, is hereby further amended by striking out, in line 45, the word "forty-five" and inserting in place thereof the word:- ninety.
SECTION 3. Section 14 of chapter 61A of the General Laws is hereby amended by striking out the third sentence, as so appearing, and inserting in place thereof the following sentence:- For a period of one hundred twenty days subsequent to such notification, said city or town shall have, in the case of an intended sale, a first refusal option to meet a bona fide offer to purchase said land, or, in the case of an intended conversion not involving sale, an option to purchase said land at full and fair market value to be determined by impartial appraisal.
SECTION 4. Said section 14 of said chapter 61A is hereby further amended by striking out the last sentence, as so appearing, and inserting in place thereof the following sentence:- The provisions of this section shall not be applicable with respect to a mortgage foreclosure sale; but the holder of a mortgage shall, at least ninety days before a foreclosure sale, send written notice of the time and place of such sale to the parties and in the manner above provided in this section for notice of intent to sell or convert, and the giving of such notice may be established by an affidavit of a notary public as set forth above.
SECTION 5. Section 9 of chapter 61B of the General Laws, as so appearing, is hereby amended by striking out, in line 15, the word "ninety" and inserting in place thereof the words:- one hundred and twenty.
SECTION 6. Said section 9 of said chapter 61B, as so appearing, is hereby further amended by striking out, in line 48, the word "forty-five" and inserting in place thereof the word:- ninety.