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Current as of January 01, 2024 | Updated by Findlaw Staff
The board, subject to existing agreements with noteholders or bondholders, may, out of any funds available for that reason, purchase notes or bonds of the board, which shall thereupon be canceled, at a price not exceeding:
(1) the current redemption price plus accrued interest to the next interest payment thereon, if the notes or bonds are then redeemable; or
(2) the redemption price applicable on the first date after the purchase upon which the notes or bonds become subject to redemption plus accrued interest to that date, if the notes or bonds are not then redeemable.
Cite this article: FindLaw.com - Montana Title 90. Planning, Research, and Development § 90-6-115. Purchase of notes and bonds--cancellation - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-90-planning-research-and-development/mt-st-90-6-115/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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