Person (Bankruptcy) Law and Legal Definition
According to Federal Bankruptcy Code 11 USCS § 101 [Title 11. Bankruptcy; Chapter 1. General provisions] the term person includes “individual, partnership, and corporation, but does not include governmental unit, except that a governmental unit that--
(A) acquires an asset from a person--
(i) as a result of the operation of a loan guarantee agreement; or
(ii) as receiver or liquidating agent of a person;
(B) is a guarantor of a pension benefit payable by or on behalf of the debtor or an affiliate of the debtor; or
(C) is the legal or beneficial owner of an asset of--
(i) an employee pension benefit plan that is a governmental plan, as defined in section 414(d) of the Internal Revenue Code of 1986 [26 USCS § 414(d)]; or
(ii) an eligible deferred compensation plan, as defined in section 457(b) of the Internal Revenue Code of 1986 [26 USCS § 457(b)];
shall be considered, for purposes of section 1102 of this title [11 USCS § 1102], to be a person with respect to such asset or such benefit.”
Legal Definition list
- Person Associated With a Security Based Swap Dealer
- Person Associated with a Public Accounting Firm
- Person Associated With a Nationally Recognized Statistical Rating Organization
- Person Associated With a Municipal Securities Dealer
- Person Associated With a Government Securities Broker
- Person Entitled to Enforce an Instrument
- Person Entitled to Priority Consideration [Civil Service Regulations]
- Person Holding a Casino Interest
- Person Indemnified
- Person of Interest
- Person Related to Security Transaction
Related Legal Terms
- Absent Person
- Accidental Personal Injury
- Accountable Personal Property
- Accountant ( Bankruptcy)
- Act of Bankruptcy
- Actio Personalis Moritur Cum Persona
- Action in Personam
- Actus Inceptus Cujus Perfectio Pendet Ex Voluntate Partium Revocari Potest, Si Autem Pendet Ex Voluntate Tertiae Personae, Vel Ex Contingenti, Revocar
- Adequate Protection [Bankruptcy]
- Adverse Personnel Action
