Under the 2005 Reforms

question 22

Multiple Choice

Under the 2005 reforms:

• A) it is easier for creditors to show they did not receive a voidable preference.
• B) nonconsumer debt payments of less than $7,500 are not subject to the voidable preference standards .
• C) both a.and b.
• D) none of the above.

---

Definitions:

Common Stock

Shares that give owners voting rights but only residual claims to the firm’s assets and income distributions.

Not-For-Profit Cooperative

An organization owned and operated by its members with the primary goal of meeting their needs and aspirations without seeking to make a profit.

Credit Union

A member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and offering other financial services to its members.

Credit Unions

Not-for-profit financial cooperatives that offer banking services, loans, and credit to members with common affiliations.