Section 205 – Obligee rights.

Effective 5/10/2016
63H-6-205. Obligee rights.
In addition to a right that is conferred on an obligee of a corporation bond and subject to contractual restrictions binding on the obligee, an obligee may:

• (1) by mandamus, suit, action, or other proceeding:
  • (a) compel the corporation and the corporation’s board, officers, agents, or employees to perform every term, provision, and covenant contained in a contract of the corporation with or for the benefit of the obligee; and
  • (b) require the corporation to carry out the covenants and agreements of the corporation and to fulfill the duties imposed on the corporation by this part; and

• (2) by suit, action, or proceeding in equity enjoin an act that is unlawful or violates the rights of the obligee.

Enacted by Chapter 301, 2016 General Session