If the acquired lien remains unpaid after a statutory period, the purchaser generally initiates foreclosure.

FORBES: Feds Nab Corporate Bid Rigger In Tax Lien Auctions

Following the expiration of a statutory period, unpaid tax liens are typically sold at public auction where interested bidders seek to acquire the lien at a favorable interest rate that the delinquent homeowner will pay upon redemption.

FORBES: Feds Nab Corporate Bid Rigger In Tax Lien Auctions

Dewhirst is entering a formal 90-day statutory consultation period with the union and the workers, a spokesman said.

BBC: Agencies meet over Dewhirst jobs

This would see a statutory consultation period during which representations either for or against the proposal can be made.

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The idea that an employer will change their mind about taking someone on because the statutory redundancy consultation period has been reduced from 90 to 45 days is close to absurd.

BBC: Redundancy talks period to be cut from 90 to 45 days

It is a statutory three-month period.

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Unlike non-statutory options, the offering period for incentive stock options is always 10 years, after which time the options expire.

FORBES: Introduction To Incentive Stock Options

The application is now subject to a statutory 28-day public consultation period.

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