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TITLE 11 > CHAPTER 9 > SUBCHAPTER I > § 903Prev | Next

§ 903. Reservation of State power to control municipalities
Release date: 2005-07-12

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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