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Section 17-18-201 – Protection Provisions; Applicability; Defined.

17-18-201. Protection provisions; applicability; defined. (a) A qualified corporation may, if its articles of incorporation authorize it to utilize the bondholder protection provisions of this act, utilize any of the provisions set forth in subsection (b) of this section. These protections shall apply only to bonds, debentures or other debt instruments whose original aggregate value […]

Section 17-18-202 – Bondholder Protection Provision; Adoption Requirements; Revocation.

17-18-202. Bondholder protection provision; adoption requirements; revocation. (a) The corporation utilizes a bondholder protection provision by adopting and filing with the secretary of state a notice of bondholder protection as provided in this section. (b) The notice of bondholder protection shall specify the percentage of bondholders whose consent is required for any action on that […]

Section 17-18-203 – Bondholder Protection Provision; Amendments.

17-18-203. Bondholder protection provision; amendments. (a) At any time any amendment may be made to the bondholder protection provisions with the consent of the percentage of bondholders required for action as stated in the notice of bondholder protection. Such an amendment shall be effective upon filing the bondholder’s consent and notice of amendment with the […]

Section 17-18-204 – Limitations of the Bondholder Protection Provisions.

17-18-204. Limitations of the bondholder protection provisions. (a) Nothing in the bondholder protection provisions shall be construed or applied to abridge or prohibit any contract, covenant or restriction made between any corporation and its bondholders, or any holder of any other debt instrument provided the contract, covenant or restriction would be lawful in the absence […]