North Dakota Century Code Title 40. Municipal Government § 40-36-17. General remedies of holders of refunding bonds--Receiver of enterprise

The holders of bonds issued under this chapter, or a trustee for such holders, may exercise any or all of the general remedies provided in section 40-35-15, subject, however, to the restrictions and limitations contained in that section. A receiver for an enterprise may be appointed for the reasons and in the manner prescribed in section 40-35-16 for the appointment of a receiver for an undertaking. Any receiver appointed for an enterprise shall have the powers and shall perform the duties prescribed in section 40-35-16 for the receiver of an undertaking. The termination of a receivership for an enterprise shall be governed by the provisions of section 40-35-18, and after the enterprise is surrendered to the municipality, the holder of refunding bonds, upon any subsequent default, may secure the appointment of a receiver as in the case of the original default. The receiver for an enterprise shall be subject to the continuing jurisdiction of the court and may be removed by the court as specified in section 40-35-19.