Current through Register Vol. 54, No. 45, November 9, 2024
Section 2.16 - Sole owner of an unincorporated business(a) An individual who is the sole owner of an unincorporated business and who, at the time the adversary adjudication was initiated against him, had an individual net worth not exceeding $500,000 but whose unincorporated business had a net worth not exceeding $2 million or had more than 250 employes will be considered an individual rather than a sole owner of an unincorporated business only for those issues on the merits on which he prevails which primarily relate to his interests as an individual and which are severable from issues relating to his interests as sole owner of an unincorporated business.(b) An individual who is the sole owner of an unincorporated business and who, at the time the adversary adjudication was initiated against him, had an individual net worth exceeding $500,000 but whose unincorporated business had a net worth not exceeding $2 million and had 250 or fewer employes will be considered a sole owner of an unincorporated business rather than an individual only for those issues on the merits on which he prevails which primarily relate to his interests as a sole owner of an unincorporated business and which are severable from all issues relating to his interests as an individual.