Maine Revised Statutes Title 35-A Sec. 2928 – Presumption of validity
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Terms Used In Maine Revised Statutes Title 35-A Sec. 2928
- Bank: means the Maine Public Utility Financing Bank created by this chapter. See Maine Revised Statutes Title 35-A Sec. 2903
- Bonds: means bonds of the bank issued pursuant to this chapter. See Maine Revised Statutes Title 35-A Sec. 2903
- Notes: means any notes of the bank issued pursuant to this chapter. See Maine Revised Statutes Title 35-A Sec. 2903
- Person: includes a corporation, partnership, limited partnership, limited liability company, limited liability partnership, association, trust, estate, any other legal entity or natural person. See Maine Revised Statutes Title 35-A Sec. 102
- Public utility: means any transmission and distribution utility, water utility or gas utility that is subject to the jurisdiction of the commission. See Maine Revised Statutes Title 35-A Sec. 2903
After issuance, all bonds or notes of the bank are conclusively presumed to be fully authorized and issued under the laws of the State and any person or public utility is estopped from questioning their authorization, sale, issuance, execution or delivery by the bank. [PL 1987, c. 141, Pt. A, §6 (NEW).]
SECTION HISTORY
PL 1987, c. 141, §A6 (NEW).