United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 10, § 1047: Remedies, 1981

Certain security holders and trustees may use legal action to enforce rights and compel the authority’s duties, unless the trust agreement or related document restricts that.

enforcementrevenue obligation securitiestrust agreements

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Official source

01

Purpose and legislative effect

“Certain security holders and trustees may use legal action to enforce rights and compel the authority’s duties, unless the trust agreement or related document restricts that.”

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02

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  1. 01

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    Enacted 1981 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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03

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Remedies

Certain security holders and trustees may use legal action to enforce rights and compel the authority’s duties, unless the trust agreement or related document restricts that.

Section 1047

04

Source and current-law status

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Source record from legislature.maine.gov · Enacted 1981 · Source version 1 Oct 2025

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Showing 1 of 1 provisions

Provision
§ 1047RemediesProvision

Certain security holders and trustees may use legal action to enforce rights and compel the authority’s duties, unless the trust agreement or related document restricts that.

Any holder of revenue obligation securities or coupons issued under this subchapter and the trustee under any trust agreement, except as restricted by the trust agreement or applicable document, may, by appropriate legal action, protect and enforce any and all rights under the laws of this State or granted under this subchapter, the trust agreement or other document, including the appointment of a receiver, and may enforce and compel the performance of all duties required by this subchapter, the trust agreement or other document to be performed by the authority, including the collecting of rates, fees and charges for the use of the project. Any proceeding shall be brought for the benefit of all holders of the securities and any coupons. [PL 1985, c. 344, §75 (AMD).]
Section 1047Verify source

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  • 1 Oct 2025 · currentEnglish

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