Section 262. Significance and duty on filing Federal action.
(a) Status.--A municipality which files a municipal debt adjustment action under Federal law shall be deemed to be a financially distressed municipality under this act.
(b) Notice.--The municipality shall immediately notify the secretary and the plan coordinator, if one has been assigned, of the Federal filing.
(c) Appointment of coordinator.--Upon receipt of notice of filing of the Federal action by a municipality, the secretary shall appoint a plan coordinator under section 221, if none had yet been appointed. The coordinator shall formulate a plan approvable by the Federal court.