Sec. 7-566. Municipal petition to become a debtor.
71 words·~1 min read·
/ct/title-7/chapter-117-municipal-deficit-financing/7-566·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No municipality shall file a petition to become a debtor under Chapter 9 of Title 11 of the United States Code without the express prior written consent of the Governor. If the Governor consents to a petition, he shall submit a report to the Treasurer and the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding which sets forth the reasons for consent.