§2922. Remedies on default of public utility securities
In the event of default by a public utility in the payment of interest on, or principal of, any public utility bond owned or held by the bank as and when due and payable the bank shall proceed to enforce or cause to be enforced payment pursuant to applicable provisions of law of that interest or principal or other amounts then due and payable. [PL 1987, c. 141, Pt. A, §6 (NEW).]
SECTION HISTORY
PL 1987, c. 141, §A6 (NEW).
Structure Maine Revised Statutes
Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT
35-A §2902. Findings and declaration of purpose
35-A §2904. Creation of bank and membership
35-A §2905. Lending and borrowing powers generally
35-A §2907. Prohibited acts and limitation of powers
35-A §2908. Bonds and notes of the bank
35-A §2909. Resolutions and indentures
35-A §2911. Reserves and funds
35-A §2912. Personal liability
35-A §2913. Purchase of bonds and notes of bank
35-A §2914. Bonds as legal investments and security
35-A §2916. Exemption of property from execution sale; actions to set aside resolutions
35-A §2917. Insurance or guaranty
35-A §2920. Undertakings of depositories
35-A §2921. Purchase of public utility securities
35-A §2922. Remedies on default of public utility securities
35-A §2923. Purchase of anticipation notes
35-A §2926. Agreements with financial institutions
35-A §2927. Form of public utility securities and investments