Page:United States Statutes at Large Volume 92 Part 2.djvu/1273

 PUBLIC LAW 95-598—NOV. 6, 1978

92 STAT. 2553

(E) affiliate, or insider of an affiliate as if such affiliate were the debtor; and (F) manag-ing agent of the debtor; (26) "insolvent" means— (A) with reference to an entity other than a partnership, financial condition such that the sum of such entity's debts is greater than all of such entity's property, at a fair valuation, exclusive of— (i) property transferred, concealed, or removed with intent to hinder, delay, or defraud such entity's creditors; and (ii) property that may be exempted from property of the estate under section 522 of this title; and Post, p. 2586. (B) with reference to a partnership, financial condition such that the sum of such partnership's debts is greater than the aggregate of, at a fair valuation— (i) all of such partnership's property, exclusive of property of the kind specified in subparagraph (A)(i) of this paragraph; and (ii) the sum of the excess of the value of each general partner's separate property, exclusive of property of the kind specified in subparagraph (A) (ii) of this paragraph, over such partner's separate debts; (27) "judicial lien" means lien obtained by judgment, levy, sequestration, or other legal or equitable process or proceeding; (28) "lien" means charge against or interest in property to secure payment of a debt or performance of an obligation; (29) "municipality" means political subdivision or public agency or instrumentality of a State; (30) "person" includes individual, partnership, and corporation, but does not include governmental unit; (31) "petition" means petition filed under section 301, 302, 303, or 304 of this title, as the case may be, commencing a case under this title; (32) "purchaser" means transferee of a voluntary transfer, and includes immediate or mediate transferee of such a transferee; (33) "railroad" means common carrier by railroad engaged in the transportation of individuals or property or owner of trackage facilities leased by such a common carrier; (34) "relative" means individual related by affinity or consanguinity within the third degree as determined by the common law, or individual in a step or adoptive relationship within such third degree; (35) "security"— (A) includes— (i) note; (ii) stock; (iii) treasury stock; (iv) bond; (v) debenture; (vi) collateral trust certificate; (vii) pre-organization certificate or subscription; (viii) transferable share; (ix) voting-trust certificate; (x) certificate of deposit; (xi) certificate of deposit for security; (xii) investment contract or certificate of interest or

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