Okla. Stat. tit. 11, § 11-36-310
This is the official text of Okla. Stat. tit. 11, § 11-36-310, part of Oklahoma’s Stat. tit. 11, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 11,." Browse the sections below, each linked to its official government source.
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Limitation of bondholder actions on street improvement
Official statutory text
bonds.
The right of any holder to enforce the lien of any street
improvement bond or street improvement refunding bond by
foreclosure, mandamus, refunding, or otherwise, shall be barred upon
the expiration of three (3) years after the maturity date named on
the face of such bond, unless the bondholder, prior to the
expiration of the three-year period, shall have:
1. Commenced suit to foreclose his lien by filing an action for
that purpose and procuring service of summons therein; or
2. Evidenced his willingness to accept street improvement
refunding bonds, issued under the provisions of Sections 36-309
through 36-312 of this title, in exchange for the bond.
The running of the three-year period of limitation shall be an
absolute bar to any action or proceeding brought thereafter, whether
the same is plead as a defense or not, and the property against
which the bonds represented a lien shall thereafter be, by operation
of law, absolved of any lien or liability on account of the bonds.
The right of any holder to enforce the lien of any street
improvement bond or street improvement refunding bond by
foreclosure, mandamus, refunding, or otherwise, shall be barred upon
the expiration of three (3) years after the maturity date named on
the face of such bond, unless the bondholder, prior to the
expiration of the three-year period, shall have:
1. Commenced suit to foreclose his lien by filing an action for
that purpose and procuring service of summons therein; or
2. Evidenced his willingness to accept street improvement
refunding bonds, issued under the provisions of Sections 36-309
through 36-312 of this title, in exchange for the bond.
The running of the three-year period of limitation shall be an
absolute bar to any action or proceeding brought thereafter, whether
the same is plead as a defense or not, and the property against
which the bonds represented a lien shall thereafter be, by operation
of law, absolved of any lien or liability on account of the bonds.
Status: in_force · Read it on the official government site
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