Which of the following is true about exemptions for an individual in a Chapter 7 bankruptcy?

A) Exemptions are always determined by state law.
B) The state exemptions, where present, generally allow the debtor to keep fewer assets than
under federal law.
C) The federal statutory exemptions apply in all cases.
D) The federal law allows states to set their own exemptions, which can be either mandatory
or optional in place of the federal exemptions.

D

Business

You might also like to view...

Common stockholders may assign a proxy, or the power to cast their ballot, only when majority voting is in place.

a. true b. false

View
Business

The subtraction of an n × m matrix from an n × m matrix yields an n × m matrix

Indicate whether the statement is true or false

View
Business