Iowa § 261A.48 Powers of holders and trustees

Iowa Statutes

§ 261A.48 — Powers of holders and trustees

Iowa § 261A.48

Title VIIEDUCATION, HISTORY, AND CULTURE

Ch. 261AHIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS)

This text of Iowa § 261A.48 (Powers of holders and trustees) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 261A.48 (2026).

Text

1.Aholderofobligationsorofthecouponspertainingtoobligationsandthetrusteeunder a trust agreement, except to the extent the rights given in this subchapter are restricted by the authorizing resolution or trust agreement, may, by suit, mandamus, or other proceedings, protectandenforceanyandallrightsunderthelawsofthisstate,orunderthetrustagreement or resolution authorizing the issuance of the obligations, and may enforce and compel the performance of all duties required by this subchapter or by the trust agreement or resolution tobeperformedbytheauthorityorbyanofficer,employee,oragentoftheauthority,including the fixing, charging, and collecting of fees and charges authorized in this subchapter and required by the resolution or trust agreement to be fixed and collected.

2.The rights of holder

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1. Aholderofobligationsorofthecouponspertainingtoobligationsandthetrusteeunder
a trust agreement, except to the extent the rights given in this subchapter are restricted by
the authorizing resolution or trust agreement, may, by suit, mandamus, or other proceedings,
protectandenforceanyandallrightsunderthelawsofthisstate,orunderthetrustagreement
or resolution authorizing the issuance of the obligations, and may enforce and compel the
performance of all duties required by this subchapter or by the trust agreement or resolution
tobeperformedbytheauthorityorbyanofficer,employee,oragentoftheauthority,including
the fixing, charging, and collecting of fees and charges authorized in this subchapter and
required by the resolution or trust agreement to be fixed and collected.
2. The rights of holders include the right to compel the performance of all duties of the
authority required by this subchapter or the resolution or trust agreement, to enjoin unlawful
activities,andintheeventofdefaultwithrespecttothepaymentofanyprincipalof,premium,
if any, and interest on an obligation or in the performance of a covenant or agreement on the
part of the authority in the resolution, to apply to a court having jurisdiction of the cause to
19 HIGHER EDUCATION LOAN AUTHORITY (PRIVATE INSTITUTIONS), §261A.50
appoint a receiver to administer and operate the project, the revenue of which is pledged to
the payment of the principal of, premium, if any, and interest on the obligations, the receiver
to have full power to pay and to provide for payment of the principal of, premium, if any, and
interest on the obligations, and to have the powers, subject to the direction of the court, as
are permitted by law and are accorded receivers in general equity cases, including the power
to foreclose the mortgage on the project in the same manner as the foreclosure of a mortgage
on real estate of private corporations, but excluding any power to pledge additional revenue
of the authority to the payment of the principal, premium, and interest.