§ 2150 - No full faith and credit of the United States

CHAPTER 20— PUERTO RICO OVERSIGHT, MANAGEMENT, AND ECONOMIC STABILITY › SUBCHAPTER II— RESPONSIBILITIES OF OVERSIGHT BOARD

(a) The full faith and credit of the United States is not pledged for the payment of any principal of or interest on any bond, note, or other obligation issued by a covered territory or covered territorial instrumentality. The United States is not responsible or liable for the payment of any principal of or interest on any bond, note, or other obligation issued by a covered territory or covered territorial instrumentality.

(b) Any claim to which the United States is determined to be liable under this chapter shall be subject to appropriations.

(c) No Federal funds shall be authorized by this chapter for the payment of any liability of the territory or territorial instrumentality.

Notes

Editorial Notes

References in Text

This chapter, referred to in subsecs. (b) and (c), was in the original “this Act”, meaning Pub. L. 114–187, June 30, 2016, 130 Stat. 549, known as the Puerto Rico Oversight, Management, and Economic Stability Act and also as PROMESA, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 2101 of this title and Tables.