Oklahoma Statutes (Last Updated: September 18, 2014)

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

Latest version.

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.

Laws 1935, p. 123, § 1.

                    
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