SB 0414 Bankruptcy protection for political subdivisions
Committee:CIVILR Number:S1542.01T
Last Action:04/11/95 - Signed by Governor (w/EC)
Effective Date:Emergency Claus
All Actions | Senate Home Page | List of 1995 Senate Bills
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.