Maine § 30-A §4874 Additional remedies conferrable by authority

Maine Statutes

§ 30-A §4874 — Additional remedies conferrable by authority

Maine·Title 30-A MUNICIPALITIES AND COUNTIES·Part 2 MUNICIPALITIES·Ch. 201 HOUSING AUTHORITY

An authority may by its resolution, trust indenture, mortgage, lease or other contract confer upon any obligee holding or representing a specified amount in bonds, the right, in addition to all rights that may otherwise be conferred, upon the happening of an event of default as defined in the resolution or instrument, by suit, action or proceeding in any court of competent jurisdiction:

1.Cause possession of project to be surrendered. Cause possession of any project or any part of a project to be surrendered to any such obligee;

2.Obtain appointment of receiver. Obtain the appointment of a receiver of any project of the authority or any part of a project and of the rents and profits from the project; and

3.Require accounting. Require the authority and the commissioners of the authority

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An authority may by its resolution, trust indenture, mortgage, lease or other contract confer upon any obligee holding or representing a specified amount in bonds, the right, in addition to all rights that may otherwise be conferred, upon the happening of an event of default as defined in the resolution or instrument, by suit, action or proceeding in any court of competent jurisdiction:
1.
Cause possession of project to be surrendered.
Cause possession of any project or any part of a project to be surrendered to any such obligee;
2.
Obtain appointment of receiver.
Obtain the appointment of a receiver of any project of the authority or any part of a project and of the rents and profits from the project; and
3.
Require accounting.
Require the authority and the commissioners of the authority to account as if it and they were the trustees of an express trust.

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