The map below is from Governing.com and the article "How Rare Are Municipal Bankruptcies" . Answer rare. Not that I have any, but I thought the information pertained in it would be useful for muni investors.
The following map illustrates states’ different approaches to municipal bankruptcy:
Note: Click a state to view the numbers of local governments per state. Please zoom out to view Alaska and Hawaii. State policy classifications obtained from "Primer on Municipal Debt Adjustment," Chapman and Cutler LLP.
The following map illustrates states’ different approaches to municipal bankruptcy:
| State specifically authorizes Chapter 9 filings | |
| Chapter 9 filing is authorized upon conditions met and further action of state, officials or other entity | |
| Municipalities have limited authorization (click for details) | |
| No Chapter 9 authorization outlined, laws are unclear or filing otherwise prohibited |
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