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Chapter 11 and Chapter 7 are the two main categories of federal bankruptcy laws that businesses can choose from. Homestead (160 acres outside a municipality and acre within a municipality), insurance, motor vehicle ($1,000), personal properties ($1,000), a portion of wages, life insurance policies, unemployment compensation benefits, disability benefits, pension and retirement funds, education funds, and health aid interest are among those exempted. This plan is reviewed by the SEC and then has to be approved by the court before being put into action. Chapter 11 and Chapter 7 are the two main categories of federal bankruptcy laws that businesses can choose from. nevada gambling laws casino fun monopoly slot ted nash weston west virginia gambling carnival jackpot extreme holland america volendam slot machines