FEDERAL · 48 U.S.C. · Chapter SUBCHAPTER IV—MISCELLANEOUS PROVISIONS
Protection from inter-debtor transfers
48 U.S.C. § 2195
Title48 — Territories and Insular Possessions
ChapterSUBCHAPTER IV—MISCELLANEOUS PROVISIONS
This text of 48 U.S.C. § 2195 (Protection from inter-debtor transfers) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
48 U.S.C. § 2195.
Text
(a)Protection of creditors
While an Oversight Board for Puerto Rico is in existence, if any property of any territorial instrumentality of Puerto Rico is transferred in violation of applicable law under which any creditor has a valid pledge of, security interest in, or lien on such property, or which deprives any such territorial instrumentality of property in violation of applicable law assuring the transfer of such property to such territorial instrumentality for the benefit of its creditors, then the transferee shall be liable for the value of such property.
(b)Enforceability
A creditor may enforce rights under this section by bringing an action in the United States District Court for the District of Puerto Rico after the expiration or lifting of the stay of section 2194 of this title
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Related
Voya Institutional Trust Co. v. University of Puerto Rico
266 F. Supp. 3d 590 (D. Puerto Rico, 2017)
Source Credit
History
(Pub. L. 114–187, title IV, §407, June 30, 2016, 130 Stat. 592.)
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Bluebook (online)
48 U.S.C. § 2195, Counsel Stack Legal Research, https://law.counselstack.com/usc/48/2195.