| SB 0414 | Bankruptcy protection for political subdivisions |
| Sponsor: | CASKEY | ||
| Committee: | CIVI | LR Number: | S1542.01T |
| Last Action: | 04/11/95 - Signed by Governor (w/EC) | ||
| Title: | |||
| Effective Date: | Emergency Claus | ||
SB 414 - A municipality or political subdivision may be a
debtor under Chapter 9 of the Federal Bankruptcy Code only if
specifically authorized by state law. This act allows any
municipality or political subdivision to institute appropriate
bankruptcy proceedings and seek Chapter 9 protection. This act
contains an emergency clause.
JAMES KLAHR