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Current as of January 01, 2024 | Updated by Findlaw Staff
1. Beginning August 1, 2005, the public finance authority is deemed the continuation of and successor in interest to the municipal bond bank and any reference to the municipal bond bank or bond bank in any agreement, certificate, contract, covenant, indenture, resolution, recital, undertaking, bond, note, other evidence of indebtedness, or in any other document or instrument means the public finance authority.
2. The public finance authority as the continuation of and successor in interest to the municipal bond bank is deemed to:
a. Possess all rights, title, privileges, powers, immunities, property, assets, and claims of the bond bank; and
b. Fulfill and perform all obligations of the bond bank, including all bond bank obligations relating to outstanding bonds and notes.
Cite this article: FindLaw.com - North Dakota Century Code Title 6. Banks and Banking § 6-09.4-26. Public finance authority as continuation of and successor in interest to municipal bond bank - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-6-banks-and-banking/nd-cent-code-sect-6-09-4-26/
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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