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14-33-20-36. Protection of holders or trustees

IN Code § 14-33-20-36 (2019) (N/A)
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Sec. 36. Subject to contractual limitations binding upon the holders or trustees for the holders of an issue of bonds, notes, or other evidences of indebtedness payable from revenues, including restrictions on the exercise of a remedy to a specified proportion of holders, a holder or trustee of bonds, notes, or other evidences of indebtedness may, for the equal benefit and protection of all holders similarly situated, do the following:

(1) By mandamus or other action:

(A) enforce the rights of the holder or trustee against the board and the board's officers, agents, and employees; and

(B) require the board or officers, agents, or employees to perform:

(i) duties and obligations under this chapter; and

(ii) contracts with the holders.

(2) By action require the board to account as if the board was the trustee of an express trust.

(3) By action enjoin any acts or things that:

(A) are unlawful; or

(B) in violation of the rights of the holders.

(4) Bring suit upon the bonds, notes, or other evidences of indebtedness.

[Pre-1995 Recodification Citation: 13-3-4-14(a).]

As added by P.L.1-1995, SEC.26.

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