7-7-4632. Procedure to return enterprise from receiver to municipality. (1) Whenever all that is due upon the refunding bonds and interest thereon and upon any other notes, bonds, or other obligations and interest thereon having a charge, lien, or encumbrance on the revenues of the enterprise and under any of the terms of any covenants or agreements with bondholders shall have been paid or deposited as provided therein and all defaults shall have been cured and made good, the court may in its discretion, after such notice and hearing as it deems reasonable and proper, direct the receiver to surrender possession of the enterprise to the municipality.
(2) The same right of the holders of the refunding bonds to secure the appointment of a receiver exists upon any subsequent default as provided in 7-7-4630 and 7-7-4631.
History: En. Sec. 14, Ch. 121, L. 1937; R.C.M. 1947, 79-1914(3).
Structure Montana Code Annotated
Part 46. Municipal Refunding Revenue Bonds Option 2
7-7-4604. Interpretation of part
7-7-4605. Authorization for refinancing and refunding revenue bonds
7-7-4606. Nature of refunding revenue bonds
7-7-4607. Exemption from certain taxes for refunding revenue bonds
7-7-4608. Refunding revenue bonds to be fully negotiable
7-7-4609. Presumptions of validity of refunding revenue bonds
7-7-4610. Details relating to refunding revenue bonds
7-7-4611. through 7-7-4620 reserved
7-7-4621. Resolution for issuance of refunding revenue bonds
7-7-4622. Permissible covenants for refunding revenue bonds
7-7-4623. Security for refunding revenue bonds
7-7-4625. Sale or exchange of refunding revenue bonds
7-7-4626. Details relating to sales of refunding revenue bonds
7-7-4627. Details relating to exchanges of refunding revenue bonds
7-7-4629. Management of enterprise
7-7-4630. Right to receivership upon default
7-7-4632. Procedure to return enterprise from receiver to municipality