Section 5-1-14-13 - Contesting validity of obligationsThe following provisions apply when an issuer negotiates a sale of obligations and a statute does not specify a time within which to contest the validity of the obligations or the sale of the obligations:
(1) No action to contest the validity of the obligations may be brought after the fifteenth day following the adoption of the resolution authorizing the sale of the obligations.(2) No action to contest the validity of the sale of the obligations may be brought after the fifth day following the sale.As added by P.L. 2-1989, SEC.11.