States Can Ignore Changes to Article 9 That Would Hurt Revenue Bondholders

Hume, Lynn
March 2001
Bond Buyer;03/12/2001, Vol. 335 Issue 31094, p6
Trade Publication
Argues that state governments in the United States do not have to adopt or retain provisions under Article 9 of the Uniform Commercial Code of 1999, if they would have negative effects for municipal bond holders. Bond lawyers' warning that under article 9 revisions, bondholders will not be assured of retaining priority status as creditors in the event of a governmental bankruptcy filing.


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