11 U.S.C. § 903 — Reservation of State power to control municipalities
submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 90 words · no verdicts yet
This section addresses reservation of state power to control municipalities. It states the rules, powers, duties, limits, definitions, or procedures set out in the section.
This chapter does not limit or impair the power of a State to control, by legislation or otherwise, a municipality of or in such State in the exercise of the political or governmental powers of such municipality, including expenditures for such exercise, but — (1) a State law prescribing a method of composition of indebtedness of such municipality may not bind any creditor* that does not consent to such composition; and (2) a judgment entered under such a law may not bind a creditor that does not consent to such composition.
This chapter does not limit or impair the power of a State to control, by legislation or otherwise, a municipality of or in such State in the exercise of the political or governmental powers of such municipality, including expenditures for such exercise, but—
a State law prescribing a method of composition of indebtedness of such municipality may not bind any creditor* that does not consent to such composition; and
a judgment entered under such a law may not bind a creditor that does not consent to such composition.
Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2622; Pub. L. 98–353, title III, § 492, July 10, 1984, 98 Stat. 383.)
- 1978Enacted · Pub. L. 95-598 · 92 Stat. 2622
- 1984Amended · Pub. L. 98-353 · 98 Stat. 383
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-598 on 1978-11-06.
all 0 arguments · sorted by: best
no arguments yet — make the first case