Missouri Laws 71.980 – Financially insolvent municipalities, state not liable for debt
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Missouri Laws 71.980
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
Notwithstanding any provision to the contrary, the state shall not be held liable for the debts of a municipality that is financially insolvent. For purposes of this section, a municipality is financially insolvent if it is not paying its debts as they become due, unless such debts are the subject of a bona fide dispute, or is unable to pay its debts as they become due.