The commissioner of the Governor's Office of Economic Development, with the approval of the Governor, is authorized and empowered to collect, compromise, adjust, or cancel claims and obligations arising out of or administered under §§ 1-53-23 to 1-53-37 , inclusive, or under any mortgage, lease, contract, or agreement entered into or administered pursuant to §§ 1-53-23 to 1-53-37 , inclusive, and, if in the commissioner's judgment is necessary and advisable, pursue the same to final collection in any court having jurisdiction.
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