Nevada Code § 539.6385

Rights and powers of holders of bonds
Open in Lexace · Ask the AI about this section
Subject
to any contractual limitations binding upon the holders of any issue or series
of bonds, or trustee therefor, including the restriction of the exercise of any
remedy to a specified proportion, percentage or number of those holders, and
subject to any prior or superior rights of others, any holder of bonds, or
trustee therefor, has the right and power, for the equal benefit and protection
of all holders of bonds similarly situated:
1. By mandamus or other suit, action or
proceeding at law or in equity to enforce his or her rights against the
district, the board and any other officers, agents and employees of the
district, to require and compel the district, the board or any such officers,
agents or employees to perform and carry out their respective duties,
obligations or other commitments under this chapter and their respective
covenants and agreements with the holder of any bonds;
2. By action or suit in equity to require
the district to account as if it is the trustee of an express trust;
3. By action or suit in equity to have
appointed a receiver, who may enter and take possession of the project and
other facilities and any pledged revenues for the payment of the bonds,
prescribe sufficient fees derived from the project and other facilities, and
collect, receive and apply all pledged revenues or other money pledged for the
payment of the bonds in the same manner as the district might do in accordance
with the obligations of the district; and
4. By action or suit in equity to enjoin
any acts or things which may be unlawful or in violation of the rights of the
holder of any bonds and to bring suit thereupon.

‹ Prev All Nevada sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.