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11 U.S.C. § 903 - U.S. Code - Unannotated Title 11. Bankruptcy § 903. Reservation of State power to control municipalities

Current as of January 01, 2024 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - 11 U.S.C. § 903 - U.S. Code - Unannotated Title 11. Bankruptcy § 903. Reservation of State power to control municipalities - last updated January 01, 2024 | https://codes.findlaw.com/us/title-11-bankruptcy/11-usc-sect-903/

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