Alhambra Bankruptcy Attorney, Bankruptcy Lawyer, Bankruptcy Code 11 USC Section 928

TITLE 11 - BANKRUPTCY
CHAPTER 9 - ADJUSTMENT OF DEBTS OF A MUNICIPALITY
    SUBCHAPTER II - ADMINISTRATION

-HEAD-
    Sec. 928. Post petition effect of security interest

-STATUTE-
      (a) Notwithstanding section 552(a) of this title and subject to
    subsection (b) of this section, special revenues acquired by the
    debtor after the commencement of the case shall remain subject to
    any lien resulting from any security agreement entered into by the
    debtor before the commencement of the case.
      (b) Any such lien on special revenues, other than municipal
    betterment assessments, derived from a project or system shall be
    subject to the necessary operating expenses of such project or
    system, as the case may be.

-SOURCE-
    (Added Pub. L. 100-597, Sec. 8, Nov. 3, 1988, 102 Stat. 3029.)


                              EFFECTIVE DATE                          
      Section effective Nov. 3, 1988, but not applicable to any case
    commenced under this title before that date, see section 12 of Pub.
    L. 100-597, set out as an Effective Date of 1988 Amendment note
    under section 101 of this title.

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