§ 968. Tax sale provisions. 1. Notwithstanding the issuance of a\nconditional tax receipt as herein provided, the procedure provided by a\nlaw for the sale of tax liens or properties for non-payment of taxes\nshall in all cases remain unchanged as if the conditional tax receipt\nhad not been issued; provided, however, that such sale shall not be held\nbefore the expiration of one year from the date of the issuance of any\nconditional tax receipt, but must be held within three years from such\ndate, notwithstanding the provision of any general or special law or\ncharter provision to the contrary.\n 2. Prior to a sale, the loan corporation shall be required to exhibit\nto the municipal officer having jurisdiction over the sale of tax liens\nor properties, the conditional tax receipt showing payments made on the\nloan contract, if any, which payments shall be credited, as of the date\nof issuance of the conditional tax receipt against the amount of taxes\ndue against the property to be sold. The municipal corporation receiving\nthe proceeds of the tax sale shall, upon surrender of the conditional\ntax receipt, pay from such proceeds the amount due the loan corporation\non the loan contract in connection with which the conditional tax\nreceipt was issued.\n 3. Until payment from the proceeds of the sale has been made to the\nloan corporation, or a receipted tax bill has been issued in exchange\nfor the conditional tax receipt, the loan corporation shall have an\ninterest in and lien upon the tax lien or properties to the extent of\nthe unliquidated portion of its loan and the municipal corporation shall\nhold such interest and lien for the account of the loan corporation,\nsubject to the provisions of this title.\n
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