Section 9.157. Effective date of plan

The reorganization plan may contain a provision making the plan operative at a time later than the date on which the plan would otherwise take effect. In the absence of such a provision, the effective date of the plan is:

(1) The date of approval of the last of the two houses to act, upon approval of the plan by the General Assembly; or

(2) The date of the expiration of the 30 day period after the delivery of the plan to both houses, upon failure of the General Assembly to approve or disapprove the plan prior thereto.