2012 US Code
Title 11 - Bankruptcy
Chapter 7 - LIQUIDATION (§§ 701 - 784)
Subchapter IV - COMMODITY BROKER LIQUIDATION (§§ 761 - 767)
Section 763 - Treatment of accounts
| Publication Title | United States Code, 2012 Edition, Title 11 - BANKRUPTCY |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 11 - BANKRUPTCY CHAPTER 7 - LIQUIDATION SUBCHAPTER IV - COMMODITY BROKER LIQUIDATION Sec. 763 - Treatment of accounts |
| Contains | section 763 |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | Yes |
| Disposition | standard |
| Source Credit | Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2618; Pub. L. 98-353, title III, §486, July 10, 1984, 98 Stat. 383. |
| Statutes at Large References | 92 Stat. 2618 98 Stat. 383 |
| Public Law References | Public Law 95-598, Public Law 98-353 |
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(a) Accounts held by the debtor for a particular customer in separate capacities shall be treated as accounts of separate customers.
(b) A member of a clearing organization shall be deemed to hold such member's proprietary account in a separate capacity from such member's customers’ account.
(c) The net equity in a customer's account may not be offset against the net equity in the account of any other customer.
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2618; Pub. L. 98–353, title III, §486, July 10, 1984, 98 Stat. 383.)
Historical and Revision Notes senate report no. 95–989Section 763 provides for separate treatment of accounts held in separate capacities. A deficit in one account held for a customer may not be offset against the net equity in another account held by the same customer in a separate capacity or held by another customer.
Amendments1984—Subsec. (a). Pub. L. 98–353 substituted “by the debtor for” for “by” and “treated as” for “deemed to be”.
Effective Date of 1984 AmendmentAmendment by Pub. L. 98–353 effective with respect to cases filed 90 days after July 10, 1984, see section 552(a) of Pub. L. 98–353, set out as a note under section 101 of this title.
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