2014 US Code
Title 11 - Bankruptcy (Sections 101 - 1532)
Chapter 3 - Case Administration (Sections 301 - 366)
Subchapter II - Officers (Sections 321 - 333)
Sec. 321 - Eligibility to serve as trustee
Publication Title | United States Code, 2012 Edition, Supplement 2, Title 11 - BANKRUPTCY |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 11 - BANKRUPTCY CHAPTER 3 - CASE ADMINISTRATION SUBCHAPTER II - OFFICERS Sec. 321 - Eligibility to serve as trustee |
Contains | section 321 |
Date | 2014 |
Laws In Effect As Of Date | January 5, 2015 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2561; Pub. L. 98-353, title III, §428, July 10, 1984, 98 Stat. 369; Pub. L. 99-554, title II, §§206, 257(c), Oct. 27, 1986, 100 Stat. 3098, 3114. |
Statutes at Large References | 92 Stat. 2561 98 Stat. 369 100 Stat. 3098 |
Public and Private Laws | Public Law 95-598, Public Law 98-353, Public Law 99-554 |
Download PDF
(a) A person may serve as trustee in a case under this title only if such person is—
(1) an individual that is competent to perform the duties of trustee and, in a case under chapter 7, 12, or 13 of this title, resides or has an office in the judicial district within which the case is pending, or in any judicial district adjacent to such district; or
(2) a corporation authorized by such corporation's charter or bylaws to act as trustee, and, in a case under chapter 7, 12, or 13 of this title, having an office in at least one of such districts.
(b) A person that has served as an examiner in the case may not serve as trustee in the case.
(c) The United States trustee for the judicial district in which the case is pending is eligible to serve as trustee in the case if necessary.
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2561; Pub. L. 98–353, title III, §428, July 10, 1984, 98 Stat. 369; Pub. L. 99–554, title II, §§206, 257(c), Oct. 27, 1986, 100 Stat. 3098, 3114.)
HISTORICAL AND REVISION NOTESLEGISLATIVE STATEMENTSSection 321 indicates that an examiner may not serve as a trustee in the case.
SENATE REPORT NO. 95–989Section 321 is adapted from current Bankruptcy Act §45 [section 73 of former title 11] and Bankruptcy Rule 209. Subsection (a) specifies that an individual may serve as trustee in a bankruptcy case only if he is competent to perform the duties of trustee and resides or has an office in the judicial district within which the case is pending, or in an adjacent judicial district. A corporation must be authorized by its charter or bylaws to act as trustee, and, for chapter 7 or 13 cases, must have an office in any of the above mentioned judicial districts.
AMENDMENTS1986—Subsec. (a). Pub. L. 99–554, §257(c), inserted reference to chapter 12 in two places.
Subsec. (c). Pub. L. 99–554, §206, added subsec. (c).
1984—Subsec. (b). Pub. L. 98–353 substituted "the case" for "a case" after "an examiner in".
EFFECTIVE DATE OF 1986 AMENDMENTEffective date and applicability of amendment by section 206 of Pub. L. 99–554 dependent upon the judicial district involved, see section 302(d), (e) of Pub. L. 99–554, set out as a note under section 581 of Title 28, Judiciary and Judicial Procedure.
Amendment by section 257 of Pub. L. 99–554 effective 30 days after Oct. 27, 1986, but not applicable to cases commenced under this title before that date, see section 302(a), (c)(1) of Pub. L. 99–554.
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.
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.