§ 4026. Business or trade obligations

193 words·~1 min read·/usc/title-50/section-4026

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(a)Availability of non-business assets to satisfy obligations If the trade or business (without regard to the form in which such trade or business is carried out) of a servicemember has an obligation or liability for which the servicemember is personally liable, the assets of the servicemember not held in connection with the trade or business may not be available for satisfaction of the obligation or liability during the servicemember’s military service.

(b)Relief to obligors Upon application to a court by the holder of an obligation or liability covered by this section, relief granted by this section to a servicemember may be modified as justice and equity require.

(Oct. 17, 1940, ch. 888, title VII, § 706, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2865.)

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U.S. Code

Short title
§ 3901

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Oct. 17, 1940, ch. 888
Pub. L. 108–189, § 1
117 Stat. 2865
section 3 of Pub. L. 108–189

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§ 4026

Business or trade obligations

Stat. Comp.×2

U.S.C.§ 3901

ActOct. 17, 1940, ch. 888

Pub. L.Pub. L. 108–189, § 1

Stat.117 Stat. 2865

Pub. L.section 3 of Pub. L. 108–189

Cites 5Cited by 2 across 1 source