Indiana Code 5-1-14-13. Contesting validity of obligations
Current as of: 2023 | Check for updates
|
Other versions
Sec. 13. The following provisions apply when an issuer negotiates a sale of obligations and a statute does not specify a time within which to contest the validity of the obligations or the sale of the obligations:
(2) No action to contest the validity of the sale of the obligations may be brought after the fifth day following the sale.
(1) No action to contest the validity of the obligations may be brought after the fifteenth day following the adoption of the resolution authorizing the sale of the obligations.
Terms Used In Indiana Code 5-1-14-13
- issuer: means any issuer of obligations that is referred to in IC 5-1-1-1(b). See Indiana Code 5-1-14-1.2
- obligations: has the meaning set forth in IC 5-1-3-1(2). See Indiana Code 5-1-14-1.5
- Statute: A law passed by a legislature.
As added by P.L.2-1989, SEC.11.