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Current as of January 01, 2024 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - 50 U.S.C. § 4026 - U.S. Code - Unannotated Title 50. War and National Defense § 4026. Business or trade obligations - last updated January 01, 2024 | https://codes.findlaw.com/us/title-50-war-and-national-defense/50-usc-sect-4026/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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