Mont. Code Ann. § 85-1-309
This is the official text of Mont. Code Ann. § 85-1-309, part of Montana’s Code Ann — part of the compiled statutory law of Montana, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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85-1-309 Actions by trustee and bondholders
Official statutory text
85-1-309 . Actions by trustee and bondholders. (1) Any holder of any bonds issued under 85-1-301 or 85-1-303 or any of the coupons attached to the bonds and the trustee, if any, except to the extent the rights may be restricted by resolution passed before the issuance of the bonds or by the trust indenture, may:
(a) either at law or in equity, by suit, action, mandamus, or other proceeding, including proceedings for the appointment of a receiver, protect and enforce any and all rights granted under this chapter or under the resolution or trust indenture; and
(b) enforce and compel performance of all duties required by this chapter or by the resolution or trust indenture to be performed by the department.
(2) While any bonds issued by the department remain outstanding, the powers, duties, or existence of the department or any official or agency of the state may not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of the bonds.
(a) either at law or in equity, by suit, action, mandamus, or other proceeding, including proceedings for the appointment of a receiver, protect and enforce any and all rights granted under this chapter or under the resolution or trust indenture; and
(b) enforce and compel performance of all duties required by this chapter or by the resolution or trust indenture to be performed by the department.
(2) While any bonds issued by the department remain outstanding, the powers, duties, or existence of the department or any official or agency of the state may not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of the bonds.
Status: in_force · Read it on the official government site
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