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

Maine Statutes

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

Maine § 30-A §4874

Title 30-AMUNICIPALITIES AND COUNTIES

Part 2MUNICIPALITIES

Ch. 201HOUSING AUTHORITY

This text of Maine § 30-A §4874 (Additional remedies conferrable by authority) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 30-A, § 30-A §4874 (2026).

Text

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.