22-29-306. Rights of creditors after change of organization; enforcement.
(a) No change of organization, or any term or condition thereof, shall impair the rights of any bondholder or other creditor of a district. Every bondholder or other creditor may enforce all the rights of the bondholder or other creditor in the same manner and to the same extent as if the change of organization, term or condition had not been made. Any of these rights may also be enforced against agencies, and their respective officers, as follows:
(i) Upon enlargement of the territory, against the district to or from which the territory is enlarged;
(ii) Upon dissolution of a district, against the successor city, county or district or against a city, county or district receiving distribution of all or any part of the remaining assets of the dissolved district;
(iii) Upon merger of two (2) or more districts, against the surviving district;
(iv) Upon consolidation of two (2) or more districts, against the successor district.
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