Section 23-71-708 - Committee determination conclusive

The determination of the committee that the limitations imposed under this part 7 upon the issuance of securities under this part 7 have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion, regardless of whether the authorizing resolution or the securities thereby authorized contain a recital as authorized by section 23-71-707.L. 75: Entire article added, p. 784, § 1, effective July 1.