§ 61-39-15 — Remedies of bondholders in general

North Dakota § 61-39-15

• Jurisdiction: North Dakota
• Title 61: Waters
• Ch. 61-39: Lake Agassiz Water Authority

Text

Subject to any contractual limitations binding upon the holders of any issue of bonds, or a
trustee for the holders, including the restriction of the exercise of any remedy to a specified
proportion or percentage of the holders, any holder of bonds or trustee, for the equal benefit and
protection of all bondholders similarly situated, may:
1. By mandamus or other civil action, enforce the holder's rights against the authority and
its board and any of its officers, agents, or employees and may require the authority or
the board or any officers, agents, or employees of the authority or board to perform
their duties and obligations under this chapter and their covenants and agreements
with bondholders.
2. By civil action, require the authority and the board to account as if they were the
trustees of an express trust.
3. By civil action, enjoin any acts or things that may be unlawful or in violation of the
rights of the bondholders.
4. Bring suit upon the bond.
A right or remedy conferred by this chapter upon any bondholder, or upon any trustee for a
bondholder, is not intended to be exclusive of any other right or remedy, but each such right or
remedy is cumulative and in addition to every other right or remedy and may be exercised
without exhausting and without regard to any other remedy conferred by this chapter or by any
other law of this state.