Full Faith and Credit Pledge legal definition of Full Faith and Credit Pledge
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full faith and credit
n. the provision in Article IV, Section 1 of the U. S. Constitution which states: "Full faith and credit shall be given in each State to the public acts, records and judicial proceedings of every other state." Thus, a judgment in a lawsuit or a criminal conviction rendered in one state shall be recognized and enforced in any other state, so long as the original judgment was reached by due process of law. Each state has a process for obtaining an enforceable judgment based on a "foreign" (out-of-state) judgment.
References in periodicals archive
Fitch also affirms the 'AAA' on approximately $399 million in outstanding metropolitan district bonds and approximately $486 million in outstanding general obligation (GO) bonds, both of which are secured by the county's full faith and credit pledge
The 'AA+' rating is based on the full faith and credit pledge
of the M-NCPPC and the unlimited ad valorem taxing guarantee of Prince George's County, MD.
The 'AAA' rating is based on the full faith and credit pledge
of the Commission and the unlimited ad valorem tax guaranty of Montgomery County.