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Name: ___ Period: ___ Date: ___Chp 9: NERVOUS TISSUE After identifying the organization of the nervous system into its subdivisions of the CENTRAL NERVOUS SYSTEM (CNS) and PERIPHERAL NERVOUS SYSTEM
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Chapter 11 functional organization refers to a specific structure or framework in which businesses reorganize their operations and debts under the Chapter 11 bankruptcy laws in the United States. It typically involves the formation of a plan for reorganization that is presented to the court.
Businesses or individuals who are unable to pay their debts and wish to reorganize their financial obligations can file for Chapter 11. Typically, corporations or partnerships file for this type of bankruptcy to restructure and remain operational.
To fill out a Chapter 11 filing, parties must complete a series of documents, including a petition, schedules of assets and liabilities, a statement of financial affairs, and a proposed disclosure statement. It is advisable to consult with a bankruptcy attorney or financial advisor to ensure proper filing.
The purpose of Chapter 11 functional organization is to provide a mechanism for businesses to reorganize their debts while continuing their operations. It aims to preserve jobs, maximize asset value, and create a viable resolution for creditors.
Debtors must report detailed financial information, including assets, liabilities, income, expenses, and a list of creditors. Additionally, they must provide a plan of reorganization and adhere to any specific local court requirements.
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