§ 649 Reorganization Plan Notice Requirements

• •If a company wants to change how it works (like when it's in trouble), it has to tell everyone who cares.
• •The company must tell customers, people it owes money to, and people who own parts of the company.
• •The boss (called the commissioner) decides how and when to tell these people.

A toy store is not making enough money and wants to change how it does things to stay open.

The toy store has to tell all its customers, the people it owes money to (like the bank), and the people who own parts of the store about its new plan. The boss (commissioner) will say how and when to tell them.