Section 5-613 - Same - Consent of political subdivisions.

§ 5-613. Same - Consent of political subdivisions.
 

With the consent of the local governing body of any political subdivision that has money deposited with a banking institution, its treasurer or similar fiscal officer may: 

(1) Consent to a plan of reorganization proposed under this subtitle; and 

(2) Bind the political subdivision to limit withdrawals from the institution as provided in the plan. 
 

[An. Code 1957, art. 11, § 7; 1980, ch. 33, § 2.]