Bankruptcy Act of 1978
Encyclopedia
The Bankruptcy Reform Act of 1978 is a United States
Act of Congress
regulating Bankruptcy
.
The current Bankruptcy Code
was enacted in 1978 by § 101 of the Act which generally became effective on October 1, 1979. The current Code completely replaced the former Bankruptcy Act of 1898
, sometimes called the "Nelson Act" (Act of July 1, 1898, ch. 541). The current Code has been since 1978. (See, e.g. Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.)
This Act Prohibits employment discrimination against anyone who has declared bankruptcy.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
Act of Congress
Act of Congress
An Act of Congress is a statute enacted by government with a legislature named "Congress," such as the United States Congress or the Congress of the Philippines....
regulating Bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
.
The current Bankruptcy Code
Bankruptcy Code
Bankruptcy Code may refer to:*Bankruptcy in Canada*Bankruptcy in the United States or Title 11 of the United States Code *Bankruptcy in China*Bankruptcy in the United Kingdom...
was enacted in 1978 by § 101 of the Act which generally became effective on October 1, 1979. The current Code completely replaced the former Bankruptcy Act of 1898
Bankruptcy Act of 1898
The Bankruptcy Act of 1898 was the first United States Act of Congress involving Bankruptcy that gave companies an option of being protected from creditors...
, sometimes called the "Nelson Act" (Act of July 1, 1898, ch. 541). The current Code has been since 1978. (See, e.g. Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.)
This Act Prohibits employment discrimination against anyone who has declared bankruptcy.