§ 23-48. Local units authorized to avail themselves of provisions of bankruptcy law.
Article7.
Bankruptcy of Taxing,etc., Districts, Counties, Cities, Towns and Villages.
§ 23‑48. Local unitsauthorized to avail themselves of provisions of bankruptcy law.
With the approval of the LocalGovernment Commission of North Carolina and with the consent of the holders ofsuch percentage or percentages of its indebtedness as may be required by PublicAct Number three hundred two of the Seventy‑fifth Congress, FirstSession, entitled "An Act to amend an Act entitled 'An Act to establish auniform system of bankruptcy throughout the United States' approved July first,one thousand eight hundred ninety‑eight and Acts amendatory thereof andsupplementary thereto," approved August sixteenth, one thousand ninehundred thirty‑seven, as amended, any taxing district, local improvementdistrict, school district, county, city, town or village in the State of NorthCarolina is authorized to avail itself of the provisions of said act ofCongress as said act now exists or may be hereafter amended. (1939,c. 203.)