Minnesota Statutes 471.831 – Municipality May File Bankruptcy Petition
Current as of: 2023 | Check for updates
|
Other versions
Subdivision 1.Any relief under bankruptcy code.
A municipality, as defined in subdivision 2, may file a petition and seek any relief available to it under United States Code, title 11, as amended.
Subd. 2.Municipality defined.
Terms Used In Minnesota Statutes 471.831
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
Terms Used In Minnesota Statutes 471.831
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
In this section, “municipality” means a municipality as defined in United States Code, title 11, § 101, as amended, but limited to a county, statutory or home rule charter city, or town; or a housing and redevelopment authority, economic development authority, or rural development financing authority established under chapter 469, a home rule charter, or special law.