Act of Dec. 29, 1950, ch. 1193, 64 Stat. 1134
An Act To amend the Act entitled “An Act to establish a uniform system of bankruptcy throughout the United States”, approved July 1, 1898, and Acts amendatory thereof and supplementary thereto
Eighty-First Congress, Session II · Approved December 29, 1950
Redefines “wage earner” in section 606(8) of chapter XIII (wage earners’ plans) as an individual who works for wages, salary or hire at a rate of compensation which, when added to his other income, does not exceed $5,000 per year, raising the former $3,600 ceiling.
This is an unofficial transcription, prepared by Robert J. Pfister for ease of reading and copying. The authoritative text is the United States Statutes at Large.
United States Statutes at Large (PDF, 1 page) (opens in a new tab) Unofficial transcription (PDF, 1 page) (opens in a new tab)
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That paragraph (8) of section 606 of the Act entitled “An Act to establish a uniform system of bankruptcy throughout the United States”, approved July 1, 1898, as amended, is amended to read as follows:
“(8) ‘Wage earner’ shall mean an individual who works for wages, salary, or hire at a rate of compensation which, when added to his other income, does not exceed $5,000 per year.”
Approved December 29, 1950.