SB 0414 Bankruptcy protection for political subdivisions
Sponsor:CASKEY
Committee:CIVILR Number:S1542.01T
Last Action:04/11/95 - Signed by Governor (w/EC)
Title:
Effective Date:Emergency Claus
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Current Bill Summary

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