11 USC 903 - Reservation of State power to control municipalities
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Sec. 903. Reservation of State power to control municipalities
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.
Sections: 767 781 782 783 784 901 902 903 904 921 922 923 924 925 926
Last modified: July 21, 2011
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