Effective - 28 Aug 2016
71.980. Financially insolvent municipalities, state not liable for debt. — 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.
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(L. 2016 S.B. 572)