§ 10-18-3 Filing of petition. – (a) Any individual debtor whose income from all sources is not greater than themaximum wage earner income, as defined in subsection (b), and who is unable topay his or her current debts as they mature but is able to make regular futurepayments on account sufficient to amortize the debts over a period of not morethan five (5) years, may file a petition for receivership under this sectionwith the clerk of the superior court in the county of his or her residence.
(b) The maximum wage earner income as used in subsection (a)is hereby defined to mean the greater of the following:
(1) Twelve thousand dollars ($12,000) per annum, or
(2) An amount which, considering the fluctuations in thegeneral price level, is equivalent to twelve thousand dollars ($12,000) perannum in calendar year 1968.
(c) Changes in the price level shall be computed by the statecontroller using the consumer price index of the bureau of labor statistics ofthe United States department of labor. The foregoing computation shall be madeannually, or more frequently at the discretion of the state controller.
(d) The petition shall be under oath and shall set forth thefollowing:
(1) That the debtor is unable to meet his or her currentdebts as they mature;
(2) The names and addresses of his or her employer oremployers, the income received from each, the periods for which received andwhen payable;
(3) Whether the petitioner is married, the name, age, andrelationship of each person depending upon him or her for support and theapproximate amount required for the petitioner's and his or her dependents'support;
(4) A list of all his or her creditors, with the names andaddresses of and the amount owing to each, the nature of the claim, whether theindebtedness is secured or unsecured, the nature of the security, if any, andwhether any listed claim is disputed, together with the amount claimed by thecreditor and the amount claimed by the debtor;
(5) A description of all actions, suits or proceedings whichare, to the best of his or her knowledge, in effect against him or her.
(e) Upon filing the petition, the debtor shall pay to theclerk of the court the sum of five dollars ($5.00) as a filing fee.
§ 10-18-3 Filing of petition. – (a) Any individual debtor whose income from all sources is not greater than themaximum wage earner income, as defined in subsection (b), and who is unable topay his or her current debts as they mature but is able to make regular futurepayments on account sufficient to amortize the debts over a period of not morethan five (5) years, may file a petition for receivership under this sectionwith the clerk of the superior court in the county of his or her residence.
(b) The maximum wage earner income as used in subsection (a)is hereby defined to mean the greater of the following:
(1) Twelve thousand dollars ($12,000) per annum, or
(2) An amount which, considering the fluctuations in thegeneral price level, is equivalent to twelve thousand dollars ($12,000) perannum in calendar year 1968.
(c) Changes in the price level shall be computed by the statecontroller using the consumer price index of the bureau of labor statistics ofthe United States department of labor. The foregoing computation shall be madeannually, or more frequently at the discretion of the state controller.
(d) The petition shall be under oath and shall set forth thefollowing:
(1) That the debtor is unable to meet his or her currentdebts as they mature;
(2) The names and addresses of his or her employer oremployers, the income received from each, the periods for which received andwhen payable;
(3) Whether the petitioner is married, the name, age, andrelationship of each person depending upon him or her for support and theapproximate amount required for the petitioner's and his or her dependents'support;
(4) A list of all his or her creditors, with the names andaddresses of and the amount owing to each, the nature of the claim, whether theindebtedness is secured or unsecured, the nature of the security, if any, andwhether any listed claim is disputed, together with the amount claimed by thecreditor and the amount claimed by the debtor;
(5) A description of all actions, suits or proceedings whichare, to the best of his or her knowledge, in effect against him or her.
(e) Upon filing the petition, the debtor shall pay to theclerk of the court the sum of five dollars ($5.00) as a filing fee.
§ 10-18-3 Filing of petition. – (a) Any individual debtor whose income from all sources is not greater than themaximum wage earner income, as defined in subsection (b), and who is unable topay his or her current debts as they mature but is able to make regular futurepayments on account sufficient to amortize the debts over a period of not morethan five (5) years, may file a petition for receivership under this sectionwith the clerk of the superior court in the county of his or her residence.
(b) The maximum wage earner income as used in subsection (a)is hereby defined to mean the greater of the following:
(1) Twelve thousand dollars ($12,000) per annum, or
(2) An amount which, considering the fluctuations in thegeneral price level, is equivalent to twelve thousand dollars ($12,000) perannum in calendar year 1968.
(c) Changes in the price level shall be computed by the statecontroller using the consumer price index of the bureau of labor statistics ofthe United States department of labor. The foregoing computation shall be madeannually, or more frequently at the discretion of the state controller.
(d) The petition shall be under oath and shall set forth thefollowing:
(1) That the debtor is unable to meet his or her currentdebts as they mature;
(2) The names and addresses of his or her employer oremployers, the income received from each, the periods for which received andwhen payable;
(3) Whether the petitioner is married, the name, age, andrelationship of each person depending upon him or her for support and theapproximate amount required for the petitioner's and his or her dependents'support;
(4) A list of all his or her creditors, with the names andaddresses of and the amount owing to each, the nature of the claim, whether theindebtedness is secured or unsecured, the nature of the security, if any, andwhether any listed claim is disputed, together with the amount claimed by thecreditor and the amount claimed by the debtor;
(5) A description of all actions, suits or proceedings whichare, to the best of his or her knowledge, in effect against him or her.
(e) Upon filing the petition, the debtor shall pay to theclerk of the court the sum of five dollars ($5.00) as a filing fee.
