S.684 - A bill to amend title 11, United States Code, to provide for family fishermen, and to make chapter 12 of title 11, United States Code, permanent.106th Congress (1999-2000)
|Sponsor:||Sen. Collins, Susan M. [R-ME] (Introduced 03/23/1999)|
|Committees:||Senate - Judiciary|
|Latest Action:||Senate - 03/23/1999 Read twice and referred to the Committee on Judiciary. (All Actions)|
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Summary: S.684 — 106th Congress (1999-2000)All Information (Except Text)
Introduced in Senate (03/23/1999)
Amends the Omnibus Consolidated and Emergency Supplemental Appropriations Act, 1999 to reenact permanently chapter 12 of the Federal Bankruptcy Code (Adjustments of Debts of a Family Farmer).
Amends Federal bankruptcy provisions to include family fishermen as authorized debtors.
Requires a guarantor of a claim of a creditor to be treated in the same manner as a creditor with respect to the operation of a stay under such provisions. Treats, with respect to the ownership or operation of a commercial fishing operation, a co-maker of a loan made by a creditor in the same manner as a creditor with respect to such a stay.
Includes a commercial fishing operation under provisions concerning debtor rights and powers.
Treats a claim for a lien for a commercial fishing vessel of a family fisherman as an unsecured claim. States that such treatment shall not apply to: (1) a claim made by a crewmember or seaman for wages or personal injury; or (2) a preferred ship mortgage that has been perfected under provisions of the Uniform Commercial Code.