§ 6562 Bondholder Agreement Modifications

• •This law is about rules for bonds (like loans that companies or governments use to borrow money).
• •If most bondholders agree, they can change some of the rules in the bond agreement.
• •The bond agreement must say which rules can be changed and how many bondholders need to agree.

Imagine a city borrows money by selling bonds to build a park. Later, the city wants to change the rules about when they pay the money back.

If the bond agreement says that 70% of bondholders must agree to change the rules, and 70% do agree, then the rules can be changed for everyone.