15 U.S.C. § 77qqq — Special powers of trustee; duties of paying agents

(a) The trustee's power to sue and file claims The indenture trustee is authorized to: (1) if the obligor defaults on paying the principal of any bond when due, or defaults on paying interest when due and that default continues for whatever period the indenture specifies, recover judgment — in the trustee's own name, as trustee of an express trust — against the obligor for the full unpaid principal and interest; and (2) file whatever proofs of claim or other papers or documents are necessary or advisable to get the trustee's and bondholders' claims allowed in any judicial proceeding involving the obligor, its creditors, or its property. (b) Paying agents must hold funds in trust Every paying agent must hold, in trust for the benefit of bondholders or the trustee, all money it holds for paying the principal of or interest on the bonds, and must notify the trustee of any default by the obligor in making such a payment.