Legislation

Search OpenLegislation Statutes

This entry was published on 2020-04-10
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 279
Governing law
Debtor & Creditor (DCD) CHAPTER 12, ARTICLE 10
§ 279. Governing law. (a) In this section, the following rules
determine a debtor's location:

(1) A debtor who is an individual is located at the individual's
principal residence.

(2) A debtor that is an organization and has only one place of
business is located at its place of business.

(3) A debtor that is an organization and has more than one place of
business is located at its chief executive office.

(b) A claim for relief in the nature of a claim for relief under this
article is governed by the local law of the jurisdiction in which the
debtor is located when the transfer is made or the obligation is
incurred.