28-U.S.C.-3301

28-U.S.C.-3301

§3301 – Definitions

Pathway

Title 28 > Part VI > Chapter 176 > Subchapter D > Section 3301

Details

  • Reference: Section 3301
  • Legend: §3301 – Definitions
  • USCode Year: 2013

Provision Content

As used in this subchapter:

(1) Affiliate means—

(A) a person who directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than a person who holds the securities—

(i) as a fiduciary or agent without sole discretionary power to vote the securities; or

(ii) solely to secure a debt, if the person has not exercised the power to vote;

(B) a corporation 20 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person who directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than the person who holds securities—

(i) as a fiduciary or agent without sole power to vote the securities; or

(ii) solely to secure a debt, if the person has not in fact exercised the power to vote;

(C) a person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or

(D) a person who operates the debtors business under a lease or other agreement or controls substantially all of the debtors assets.

(2) Asset means property of a debtor, but does not include—

(A) property to the extent it is encumbered by a valid lien;

(B) property to the extent it is generally exempt under nonbankruptcy law; or

(C) an interest in real property held in tenancy by the entirety, or as part of a community estate, to extent such interest is not subject to process by the United States holding a claim against only one tenant or co-owner.

(3) Claim means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured.

(4) Creditor means a person who has a claim.

(5) Insider includes—

(A) if the debtor is an individual—

(i) a relative of the debtor or of a general partner of the debtor;

(ii) a partnership in which the debtor is a general partner;

(iii) a general partner in a partnership described in clause (ii); or

(iv) a corporation of which the debtor is a director, officer, or person in control;

(B) if the debtor is a corporation—

(i) a director of the debtor;

(ii) an officer of the debtor;

(iii) a person in control of the debtor;

(iv) a partnership in which the debtor is a general partner;

(v) a general partner in a partnership described in clause (iv); or

(vi) a relative of a general partner, director, officer, or person in control of the debtor;

(C) if the debtor is a partnership—

(i) a general partner in the debtor;

(ii) a relative of a general partner in, a general partner of, or a person in control of the debtor;

(iii) another partnership in which the debtor is a general partner;

(iv) a general partner in a partnership described in clause (iii); or

(v) a person in control of the debtor.

(D) an affiliate, or an insider of an affiliate as if the affiliate were the debtor; and

(E) a managing agent of the debtor.

(4)  Lien means a charge against or an interest in property to secure payment of a debt and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common law lien, or a statutory lien.

(5)  Relative means an individual related, by consanguinity or adoption, within the third degree as determined by the common law, a spouse, or an individual so related to a spouse within the third degree as so determined.

(6)  Transfer means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance.

(7)  Valid lien means a lien that is effective against the holder of a judicial lien subsequently obtained in legal or equitable proceeding.

(Added Pub. L. 101–647, title XXXVI, §3611, Nov. 29, 1990, 104 Stat. 4959.)

U.S. Encyclopedia of Law Coverage

28-U.S.C.-3201 in the Legal Encyclopedia: Judiciary

In this entry about 28-U.S.C.-3201, find legal reference material, bibliographies and premiere content related to judiciary in the American Encyclopedia of Law, presenting a comprehensive view of the United States judiciary-specific issues, written by authorities in the field.

28-U.S.C.-3104 in the Legal Encyclopedia: Proceedings

In this entry about 28-U.S.C.-3104, find legal reference material, bibliographies and premiere content related to proceedings in the American Encyclopedia of Law, presenting a comprehensive view of the United States proceedings-specific issues, written by authorities in the field.

28-U.S.C.-3301 in the Legal Encyclopedia: Federal Debt Collection Procedure

In this entry about 28-U.S.C.-3301, find legal reference material, bibliographies and premiere content related to federal debt collection procedure in the American Encyclopedia of Law, presenting a comprehensive view of the United States federal debt collection procedure-specific issues, written by authorities in the field.

Topic Map


Posted

in

,

by

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *