Kentucky Statutes 247.956 – Enforcement of rights under trust agreement
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The holder of obligations of the corporation issued in its lending agency capacity pursuant to the provisions of KRS § 247.940 to KRS § 247.978 and the trustee under any trust agreement or resolution authorizing the issuance of such obligations, except the rights herein given may be restricted by such trust agreement or resolution, may, by suit, action, mandamus or other proceedings, protect and enforce any and all rights under the laws of the Commonwealth or granted hereunder or under such trust agreement or resolution, or under any other contract executed by the corporation pursuant to KRS § 247.940 to
247.978, and may enforce and compel the performance of all duties required by KRS
247.940 to 247.978 or by such trust agreement or resolution to be performed by the corporation or any officer thereof.
Effective: April 11, 1984
History: Created 1984 Ky. Acts ch. 374, sec. 9, effective April 11, 1984.
247.978, and may enforce and compel the performance of all duties required by KRS
Terms Used In Kentucky Statutes 247.956
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Trustee: A person or institution holding and administering property in trust.
247.940 to 247.978 or by such trust agreement or resolution to be performed by the corporation or any officer thereof.
Effective: April 11, 1984
History: Created 1984 Ky. Acts ch. 374, sec. 9, effective April 11, 1984.