PART VII. 
FURTHER RELIEF



 



[§657D-61]  Stay of enforcement of
obligations, liabilities, taxes.  (a)  A person, at any time during the
person's period of military service or within sixty days thereafter, may apply
to a court for relief from any obligation or liability incurred by that person
prior to the person's period of military service or for relief of any tax or
assessment whether falling due prior to or during the person's period of
military service.  The court, after appropriate notice and hearing, unless in
its opinion the ability of the applicant to comply with the terms of such
obligation or liability or to pay such tax or assessment has not been
materially affected by reason of the applicant's military service, may grant
the following relief:



(1)  In the case of an obligation payable under its
terms in installments under a contract for the purchase of real estate, or
secured by a mortgage or other installment in the nature of a mortgage upon
real estate, a stay of the enforcement of the obligation during the applicant's
period of military service and, from the date of termination of such period of
military service or from the date of application if made after such service,
for a period equal to the period of the remaining life of the installment contract
or other instrument plus a period of time equal to the period of military
service of the applicant, or any part of such combined period, subject to
payment of the balance of principal and accumulated interest due and unpaid at
the date of termination of the period of military service or from the date of
application, as the case may be, in equal installments during the combined
period at the rate of interest on the unpaid balance as is prescribed in the
contract, or other instrument evidencing the obligation, for installments paid
when due, and subject to other terms as may be just; and



(2)  In the case of any other obligation, liability,
tax, or assessment, a stay of the enforcement thereof during the applicant's
period of military service and, from the date of termination of such period of
military service or from the date of application if made after such service,
for a period of time equal to the period of military service of the applicant
or any part of such period, subject to payment of the balance of principal and
accumulated interest due and unpaid at the date of termination of such period
of military service or from the date of application, as the case may be, in
equal periodic installments during such extended period at such rate of
interest as may be prescribed for such obligation, liability, tax, or
assessment, if paid when due, and subject to such other terms as may be just.



(b)  When any court has granted a stay as
provided in this section, no fine or penalty by reason of failure to comply with
the terms or conditions of the obligation, liability, tax, or assessment as to
which the stay was granted, shall accrue during the period in which the terms
and conditions of the stay are complied with. [L 1994, c 257, pt of §2]