Section 2162 · Who may be a debtor

Amended 1 time on record

Applied in 1 court decisions — leading case In re Fin. Oversight & Mgmt. Bd. for P.R. (2018)

Most recently applied in In re Fin. Oversight & Mgmt. Bd. for P.R. (July 2018)

An entity may be a debtor under this subchapter if—

(1) the entity is—

(A) a territory that has requested the establishment of an Oversight Board or has had an Oversight Board established for it by the United States Congress in accordance with section 2121 of this title; or

(B) a covered territorial instrumentality of a territory described in paragraph (1)(A);

(2) the Oversight Board has issued a certification under section 2146(b) of this title for such entity; and

(3) the entity desires to effect a plan to adjust its debts.