12E.16 Bankruptcy.
Prior to the date which is three hundred sixty-six days after which the authority no longer has any bonds outstanding, the authority is prohibited from filing a voluntary petition under chapter nine of the federal bankruptcy code, 11 U.S.C. §901 et seq., or such corresponding chapter or section as may, from time to time, be in effect, and a public official or organization, entity, or other person shall not authorize the authority to be or become a debtor under chapter nine or any successor or corresponding chapter or sections during such periods. The provisions of this section shall be part of any contractual obligation owed to the holders of bonds issued under this chapter. Any such contractual obligation shall not subsequently be modified by state law, during the period of the contractual obligation.
2000 Acts, ch 1208, §16, 25; 2005 Acts, ch 3, §11
Structure Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 12E - TOBACCO SETTLEMENT AUTHORITY
Section 12E.3 - Tobacco settlement authority — created — purposes — powers — restrictions.
Section 12E.3A - Endowment for Iowa’s health account — purposes.
Section 12E.4 - Powers not restricted — law complete in itself.
Section 12E.5 - Governing board.
Section 12E.6 - Staff — assistance by state officers, agencies, and departments.
Section 12E.7 - Limitation of liability.
Section 12E.8 - General powers.
Section 12E.9 - Authorization of the sale of rights in the master settlement agreement.
Section 12E.10 - Tobacco settlement program plan.
Section 12E.11 - Authority — bonds.
Section 12E.12 - Tobacco settlement trust fund — established — investment — liability.
Section 12E.13 - Moneys of the authority.
Section 12E.14 - Exemption from competitive bid laws.
Section 12E.15 - Annual report.