9511.10 - Remedies of trustees and of holders of obligations. - Pennsylvania Statutes

§ 9511.10. Remedies of trustees and of holders of obligations. (a) Grant of rights.--A holder of a bond, note or other obligation issued under this chapter and the trustee under the trust indenture may, either at law or in equity, by suit, action, mandamus or other proceeding, do all of the following: (1) Protect and enforce any right granted under this chapter or under the resolution or trust indenture. (2) Enforce and compel performance of all duties required under this chapter or by resolution or trust indenture to be performed by the commission or any of its officers, including the collection of the pledged revenues. (b) Exception.--Rights given under this chapter may be restricted by resolution passed before the issuance of the bonds, notes or other obligations or by the trust indenture. (July 18, 2007, P.L.169, No.44, eff. imd.) 2007 Amendment. Act 44 added section 9511.10. Section 11.1 of Act 44 provided that Act 44 shall apply retroactively to July 1, 2007.