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48 U.S.C. § 2164 — No full faith and credit of the United States
Federal law — U.S. Code and appendices · legal_authorities
**(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 chapter shall be subject to appropriations.
**(c) Funding** No Federal funds shall be authorized by this chapter for the payment of any liability of the territory or territorial instrumentality.
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Stable record: federal_law:legal_authorities:record_usc_23f0b1b264816ef42546d686
Source file: Laws/federal/codes/united-states-code/title-48/section-2164-no-full-faith-and-credit-of-the-united-states--0f3643fd4e.md
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Source location: Title 48, Chapter 20, § 2164; chapter-020-puerto-rico-oversight-management-and-economic-stability.md
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**(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 chapter shall be subject to appropriations.
**(c) Funding** No Federal funds shall be authorized by this chapter for the payment of any liability of the territory or territorial instrumentality.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Federal Points of Contact** At the request of the Revitalization Coordinator and within 30 days of receiving such a request, each Federal agency with jurisdiction over the permitting, or administrative or environmental review of private or public projects in Puerto Rico, shall name a Point of Contact who will serve as that agency’s liaison with the Revitalization Coordinator.
**(b) Federal grants and loans** For each Critical Project with a pending or potential Federal grant, loan, or loan guarantee application, the Revitalization Coordinator and the relevant Point of Contact shall cooperate with each other to ensure expeditious review of such application.
**(c) Expedited reviews and actions of Federal agencies** All reviews conducted and actions taken by any Federal agency relating to a Critical Project shall be expedited in a manner consistent with completion of the necessary reviews and approvals by the deadlines under the Expedited Permitting Process, but in no way shall the deadlines established through the Expedited Permitting Process be binding on any Federal agency.
Source: Supplied U.S. Code snapshot — release unconfirmed · 48 U.S.C. § 2101
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Actions of Oversight Board** For the purposes of this subchapter, the Oversight Board may take any action necessary on behalf of the debtor to prosecute the case of the debtor, including—
(1) filing a petition under [section 2164 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2164&num=0&edition=prelim);
(2) submitting or modifying a plan of adjustment under sections 2172 and 2173 of this title; or
(3) otherwise generally submitting filings in relation to the case with the court.
**(b) Representative of debtor** The Oversight Board in a case under this subchapter is the representative of the debtor.
Source: Supplied U.S. Code snapshot — release unconfirmed · 48 U.S.C. § 2193
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section:
(1) **List of Material Interested Parties** — The term “List of Material Interested Parties” means the List of Material Interested Parties established under subsection (c)(1).
(2) **Oversight Board** — The term “Oversight Board” has the meaning given the term in [section 2104 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2104&num=0&edition=prelim).
**(b) Required disclosure**
(1) **In general** — In a case commenced under [section 2164 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section2164&num=0&edition=prelim), no attorney, accountant, appraiser, auctioneer, agent, or other professional person may be compensated under section 2176 or 2177 of this title unless prior to making a request for compensation, the professional person has filed with the court a verified statement conforming to the disclosure requirements of rule 2014(a) of the Federal Rules of Bankruptcy Procedure setting forth the connection of the professional person with any entity or person on the List of Material Interested Parties.
(2) **Supplement** — A professional person that submits a statement under paragraph (1) shall promptly supplement the statement with any additional relevant information that becomes known to the person.
(3) **Disclosure** — Subject to any other applicable law, rule, or regulation, a professional person that fails to file or update a statement required under paragraph (1) or files a statement that the court determines does not represent a good faith effort to comply with this section shall disclose such failure in any filing required to conform to the disclosure requirements under rule 2014(a) of the Federal Rules of Bankruptcy Procedure.
**(c) List o
Source: Supplied U.S. Code snapshot — release unconfirmed · 48 U.S.C. § 2196
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Federal law — U.S. Code and appendices · legal_authorities
Page 370
TITLE 48—TERRITORIES AND INSULAR POSSESSIONS
§ 2164
law, but solely to the extent that it prohibits
the payment of principal or interest by an en-
tity not described in section 109(b)(2) of title
11, may not bind any creditor of a covered ter-
ritory or any covered territorial instrumen-
tality thereof that does not consent to the
composition or moratorium;
(2) a judgment entered under a law described
in paragraph (1) may not bind a creditor that
does not consent to the composition; and
(3) unlawful executive orders that alter,
amend, or modify rights of holders of any debt
of the territory or territorial instrumentality,
or that divert funds from one territorial in-
strumentality to another or to the territory,
shall be preempted by this chapter.
(Pub. L. 114–187, title III, § 303, June 30, 2016, 130
Stat. 579.)
Editorial Notes
REFERENCES IN TEXT
This chapter, referred to in par. (3), was in the origi-
nal ‘‘this Act’’, meaning Pub. L. 114–187, June 30, 2016,
130 Stat. 549, known as the Puerto Rico Oversight, Man-
agement, and Economic Stability Act and also as
PROMESA, which is classified principally to this chap-
ter. For complete classification of this Act to the Code,
see Short Title note set out under section 2101 of this
title and Tables.
§ 2164. Petition and proceedings relating to peti-
tion
(a) Commencement of case
A voluntary case under this subchapter is
commenced by the filing with the district court
of a petition by the Oversight Board pursuant to
the determination under section 2146 of this
title.
(b) Objection to petition
After any objection to the petition, the court,
after notice and a hearing, may dismiss the peti-
tion if the petition does not meet the require-
ments of this subchapter; however, this sub-
section
Source: Supplied 2024 U.S. Code historical extraction · 48 U.S.C. § 2164
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