Sec. 31. Upon an application the circuit court, superior court, or probate court:
(1) may appoint; and
(2) shall appoint, if the application is made by the holders or a trustee of the holders of twenty-five percent (25%) in principal amount of the bonds, notes, or other evidences of indebtedness then outstanding;
a receiver of the water facilities.
[Pre-1995 Recodification Citation: 13-3-4-13(a) part.]
As added by P.L.1-1995, SEC.26. Amended by P.L.84-2016, SEC.83.