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Glossary Term: CHAPTER 12

Definition(s) for CHAPTER 12:


1. ) ffamily farmer bankruptcies; created by Congress in 1986 (Chapter 12 became effective on November 26, 1986 and is now a permanent Chapter of the Bankruptcy Code); only a family owned farm business can qualify for Chapter 12 and it must have debt less than $1.5 million and have 500f its income from farming operations.





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