Pub. L. 109-8, tit. IV, subtit. B, sec. 432

DEFINITIONS.

EnactedYear: 2005Length: 260 wordsOfficial source
SEC. 432. DEFINITIONS.(a) Definitions.—Section 101 of title 11, United States Code, is amended by striking paragraph (51C) and inserting the following:“(51C) ‘small business case’ means a case filed under chapter 11 of this title in which the debtor is a small business debtor;“(51D) ‘small business debtor’—“(A) subject to subparagraph (B), means a person engaged in commercial or business activities (including any affiliate of such person that is also a debtor under this title and excluding a person whose primary activity is the business of owning or operating real property or activities incidental thereto) that has aggregate noncontingent liquidated secured and unsecured debts as of the date of the petition or the date of the order for relief in an amount not more than $2,000,000 (excluding debts owed to 1 or more affiliates or insiders) for a case in which the United States trustee has not appointed under section 1102(a)(1) a committee of unsecured creditors or where the court has determined that the committee of unsecured creditors is not sufficiently active and representative to provide effective oversight of the debtor; and“(B) does not include any member of a group of affiliated debtors that has aggregate noncontingent liquidated secured and unsecured debts in an amount greater than $2,000,000 (excluding debt owed to 1 or more affiliates or insiders);”.(b) Conforming Amendment.—Section 1102(a)(3) of title 11, United States Code, is amended by inserting “debtor” after “small business”.(c) Adjustment of Dollar Amounts.—Section 104(b) of title 11, United States Code, as amended by section 226, is amended by inserting “101(51D),” after “101(3),” each place it appears.
Pub. L. 109-8, tit. IV, subtit. B, sec. 432: DEFINITIONS. | Justis AI