Oklahoma Statutes

§ 62-282 — Definitions - Debtor municipal corporation - Creditor

Oklahoma·Title 62 Public Finance
municipal corporation. For the purpose of this Act, a debtor municipal corporation hereunder is hereby defined as a municipal corporation or other political subdivision of this state which is insolvent or unable to meet its debts as they mature. A creditor municipal corporation hereunder is defined as being a municipal corporation or other political subdivision of this state which holds or owns bonds, warrants or securities of a debtor municipal corporation of this state.

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Legislative History

Laws 1935, p. 123, § 1.

Nearby Sections

15
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