§ 45-33-13 - Additional remedies conferrable on obligees.
SECTION 45-33-13
§ 45-33-13 Additional remedies conferrableon obligees. – An agency has power, by its resolution, trust indenture, mortgage, lease, orother contract, to confer upon any obligee holding or representing a specifiedamount in bonds, the right (in addition to all rights that may otherwise beconferred), upon the happening of an event or default as defined in theresolution or instrument, by suit, action, or proceeding in any court ofcompetent jurisdiction:
(1) To cause possession of any redevelopment project or anypart of it to be surrendered to the obligee.
(2) To obtain the appointment of a receiver of anyredevelopment project of the agency or any part of it and of the rents andprofits from it. If a receiver is appointed, he or she may enter and takepossession of the redevelopment project or any part of it, and operate andmaintain the redevelopment project, and collect and receive all fees, rents,revenues, or other charges thereafter arising from it, and keep those moneys ina separate account or accounts and apply the moneys in accordance with theobligation of the agency as the court directs.
(3) To require the agency and its members and employees toaccount as if it and they were the trustees of an express trust.