"Arizona Family Farmer"
In general, to be considered a family farmer by the Code, the majority of the debtors income must be earned
from farming operations, and, this income must be sufficiently stable to make regular payments to a trustee
while the plan is pending.
| 11 U.S.C. 101(18) defines an individual family farmer as a person, and spouse if any, engaged in a farming operation whose aggregate debts
do not exceed $1,500,000 and not less than 80 percent of whose aggregate noncontingent, liquidated debts
(excluding a debt for the principal residence of such individual or such individual and spouse unless such debt
arises out of a farming operation), on the date Arizona bankruptcy is filed, arise out of a farming operation owned or
operated by such individual or such individual and spouse, and such individual or such individual and spouse
receive from such farming operation more than 50 percent of such individual's or such individual and spouse's
gross income for the taxable year preceding the taxable year in which the Arizona bankruptcy concerning such individual or
such individual and spouse was filed. |
In the matter of ARIZONA BANKRUPTCY PETITION PREPARERS, General order No. 89 issued by the U.S. District.
Arizona Bankruptcy Court., July 1, 2003. 11 USC 110(k) does not permit a bankruptcy petition preparer to engage
in activities "that are otherwise prohibited by law. including the rules and laws that prohibit the unauthorized
practice of law." The Supreme Court of the State of Arizona has enacted amendments to its Rule 31 governing the
unauthorized practice of law which became effective commencing July 1, 2003. Rule 31 sets forth the general rule
that only an active member of the State Bar of Arizona may practice law in the State. The amendments also create
a limited exception for certified legal document preparers provided that the services performed are in
compliance with State Code of Judicial Administration, Part 7, Chapter 2, Section 7-208.
Back to Arizona Bankruptcy words & phrases.
|
|
