11 U.S.C. § 1182

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 1182 - Definitions

In this subchapter:

(1) DEBTOR.-The term "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 single asset real estate) that has aggregate noncontingent liquidated secured and unsecured debts as of the date of the filing of the petition or the date of the order for relief in an amount not more than $7,500,000 (excluding debts owed to 1 or more affiliates or insiders) not less than 50 percent of which arose from the commercial or business activities of the debtor; and

(B) does not include-

(i) any member of a group of affiliated debtors under this title that has aggregate noncontingent liquidated secured and unsecured debts in an amount greater than $7,500,000 (excluding debt owed to 1 or more affiliates or insiders);

(ii) any debtor that is a corporation subject to the reporting requirements under section 13 or 15(d) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m, 78o(d) ); or

(iii) any debtor that is an affiliate of a corporation described in clause (ii).

(2) DEBTOR IN POSSESSION.-The term "debtor in possession" means the debtor, unless removed as debtor in possession under section 1185(a) of this title.

11 U.S.C. § 1182

Added Pub. L. 116-54, §2(a), Aug. 23, 2019, 133 Stat. 1079; amended Pub. L. 116-136, div. A, title I, §1113(a)(1), (5), Mar. 27, 2020, 134 Stat. 310, 311; Pub. L. 117-151, §2(d), (i) (1)(B), June 21, 2022, 136 Stat. 1298, 1300.

Amendment of Paragraph (1) Pub. L. 117-151, §2(i)(1)(B), June 21, 2022, 136 Stat. 1300, provided that, effective 2 years after June 21, 2022, paragraph (1) of this section is amended to read as follows:(1) DEBTOR.-The term "debtor" means a small business debtor.See 2022 Amendment note below.

EDITORIAL NOTES

AMENDMENTS2022-Par. (1). Pub. L. 117-151, §2(i)(1)(B), amended par. (1) generally. Prior to amendment, par. (1) consisted of subpars. (A) and (B) defining "debtor". Pub. L. 117-151, §2(d), amended par. (1) generally. Prior to amendment, text read as follows: "The term 'debtor' means a small business debtor."2020-Par. (1). Pub. L. 116-136, §1113(a)(5), amended par. (1) generally. Prior to amendment, par. (1) consisted of subpars. (A) and (B) defining "debtor". Pub. L. 116-136, §1113(a)(1), temporarily amended par. (1) generally. Prior to amendment, text read as follows: "The term 'debtor' means a small business debtor."

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATE OF 2022 AMENDMENT Amendment by section 2(d) of Pub. L. 117-151 applicable with respect to any case that is commenced under this title on or after Mar. 27, 2020, and with respect to a case that was commenced on or after Mar. 27, 2020, and before June 21, 2022, that is pending on June 21, 2022, see section 2(h)(2) of Pub. L. 117-151 set out as an Effective Date of 2022 Amendment; Retroactive Application note under section 101 of this title. Pub. L. 117-151, §2(i)(1), June 21, 2022, 136 Stat. 1300, provided in part that the amendment made by section 2(i)(1)(B) is effective on the date that is 2 years after June 21, 2022.

EFFECTIVE DATE OF 2020 AMENDMENT Pub. L. 116-136, div. A, title I, §1113(a)(3), Mar. 27, 2020, 134 Stat. 311, provided that: "The amendment made by paragraph (1) [amending this section] shall apply only with respect to cases commenced under title 11, United States Code, on or after the date of enactment of this Act [Mar. 27, 2020]." Pub. L. 116-136, div. A, title I, §1113(a)(5), Mar. 27, 2020, 134 Stat. 311, as amended by Pub. L. 117-5, §2(a)(1), Mar. 27, 2021, 135 Stat. 249, provided in part that the amendment made by section 1113(a)(5) of Pub. L. 116-136 is effective 2 years after Mar. 27, 2020.

EFFECTIVE DATESection effective 180 days after Aug. 23, 2019, see section 5 of Pub. L. 116-54 set out as an Effective Date of 2019 Amendment note under section 101 of this title.

affiliate: The term "affiliate" means-(A) entity that 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 an entity that holds such securities-(i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or(ii) solely to secure a debt, if such entity has not in fact exercised such power to vote;(B) 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 by an entity that 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 an entity that holds such securities-(i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or(ii) solely to secure a debt, if such entity has not in fact exercised such power to vote;(C) person whose business is operated under a lease or operating agreement by a debtor, or person substantially all of whose property is operated under an operating agreement with the debtor; or(D) entity that operates the business or substantially all of the property of the debtor under a lease or operating agreement.
debt: The term "debt" means liability on a claim.(12A) The term "debt relief agency" means any person who provides any bankruptcy assistance to an assisted person in return for the payment of money or other valuable consideration, or who is a bankruptcy petition preparer under section 110, but does not include-(A) any person who is an officer, director, employee, or agent of a person who provides such assistance or of the bankruptcy petition preparer;(B) a nonprofit organization that is exempt from taxation under section 501(c)(3) of the Internal Revenue Code of 1986;(C) a creditor of such assisted person, to the extent that the creditor is assisting such assisted person to restructure any debt owed by such assisted person to the creditor;(D) a depository institution (as defined in section 3 of the Federal Deposit Insurance Act) or any Federal credit union or State credit union (as those terms are defined in section 101 of the Federal Credit Union Act), or any affiliate or subsidiary of such depository institution or credit union; or(E) an author, publisher, distributor, or seller of works subject to copyright protection under title 17, when acting in such capacity.
debtor: The term "debtor" means person or municipality concerning which a case under this title has been commenced.(13A) The term "debtor's principal residence"-(A) means a residential structure if used as the principal residence by the debtor, including incidental property, without regard to whether that structure is attached to real property; and(B) includes an individual condominium or cooperative unit, a mobile or manufactured home, or trailer if used as the principal residence by the debtor.
petition: The term "petition" means petition filed under section 301, 302, 303 and 3 1504 of this title, as the case may be, commencing a case under this title.(42A) The term "production payment" means a term overriding royalty satisfiable in cash or in kind-(A) contingent on the production of a liquid or gaseous hydrocarbon from particular real property; and(B) from a specified volume, or a specified value, from the liquid or gaseous hydrocarbon produced from such property, and determined without regard to production costs.
single asset real estate: The term "single asset real estate" means real property constituting a single property or project, other than residential real property with fewer than 4 residential units, which generates substantially all of the gross income of a debtor who is not a family farmer and on which no substantial business is being conducted by a debtor other than the business of operating the real property and activities incidental thereto.