23-665.10. Effect of changing circumstances on notes; agreement of state
(Rpld. 1/1/16)
A. An amendment of any provision of this act does not diminish or impair the validity of notes issued under this act or the remedies and rights of noteholders.
B. This state pledges to and agrees with the holders of the notes that this state will not limit, alter or impair the rights and remedies of the noteholders, until all notes issued under this article, together with interest on the notes, interest on any unpaid installments of principal or interest and all costs and expenses in connection with any action or proceedings by or on behalf of the noteholders, are fully met and discharged. The director, as agent for this state, may include this pledge and undertaking in the instruments authorizing and securing the notes.
Section: Previous 23-665.03 23-665.04 23-665.05 23-665.06 23-665.07 23-665.08 23-665.09 23-665.10 23-665.11 23-665.12 23-665.13 23-671 23-672 23-672.01 23-673 NextLast modified: October 13, 2016