Section 11701.262 - 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. 1987, July 10, P.L. 246, No. 47, § 262, effective in 60 days.