But Section 27-13-30 shall not apply to land purchased under proceedings, either by action or power of sale, to foreclose any mortgage acquired after March 9, 1896 by any alien or corporation controlled by aliens, but in such case such alien or corporation controlled by aliens shall not be entitled to hold such excess of land more than five years, unless the Comptroller General shall certify that a sale during that time would be materially detrimental to the interest of such alien or corporation controlled by aliens, in which case such alien or corporation controlled by aliens may hold such land for five years longer upon the same conditions.
HISTORY: 1962 Code Section 57-104; 1952 Code Section 57-104; 1942 Code Section 7790; 1932 Code Section 7790; Civ. C. '22 Section 4053; Civ. C. '12 Section 2689; Civ. C. '02 Section 1795; 1896 (22) 211.