§ 14-33-20-36 — Protection of holders or trustees

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).]

Legislative History

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