In re Jordan Cemetery Ass'n

Petitioner moves for an order purportedly pursuant to section 97 of the Membership Corporations Law: 16 authorizing and permitting the Jordan Cemetery Association, Inc. to execute and deliver to the persons furnishing the purchase price of the land of said corporation certificates of indebtedness in the amount of $10,000,000 with interest at the rate of 2% per annum, for the purchase of the real property of said cemetery corporation and for such other and further relief as to the Court may seem just and proper in the premises.”

Section 97 of the Membership Corporations Law provides: “ 1. If a…