Nevada Revised Statutes 87A.025 – ‘Debtor in bankruptcy’ defined
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‘Debtor in bankruptcy‘ means a person that is the subject of:
Terms Used In Nevada Revised Statutes 87A.025
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Statute: A law passed by a legislature.
1. An order for relief under Title 11 of the United States Code or a comparable order under a successor statute of general application; or
2. A comparable order under federal, state or foreign law governing insolvency.