Title 48 — Territories and Insular Possessions
Chapter 20 — Puerto Rico Oversight, Management, and Economic Stability
§ 2150. No full faith and credit of the United States
Statutory text
In general
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.
Subject to appropriations
Any claim to which the United States is determined to be liable under this chapter shall be subject to appropriations.
Funding
No Federal funds shall be authorized by this chapter for the payment of any liability of the territory or territorial instrumentality.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Puerto Rico Oversight, Management, and Economic Stability Act
Pub. L. 114–187 title II § 210 · 130 Stat. 549
Enacted · 48 U.S.C. § 2150
(Pub. L. 114–187, title II, § 210, June 30, 2016, 130 Stat. 576.)
Source evidence
Code source credit
(Pub. L. 114–187, title II, § 210, June 30, 2016, 130 Stat. 576.)Enacted provision · exact public law section
SEC. 210. NO FULL FAITH AND CREDIT OF THE UNITED STATES. (a) In General.— 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) Subject to Appropriations.— Any claim to which the United States is determined to be liable under this Act shall be subject to appropriations. (c) Funding.— No Federal funds shall be authorized by this Act for the payment of any liability of the territory or territorial instrumentality.
1 of 1 references resolved to an enrolled provision
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, , 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.