2016 US Code
Title 11 - Bankruptcy
Chapter 7 - Liquidation
Subchapter III - Stockbroker Liquidation
Sec. 744 - Executory contracts
| 11 U.S.C. § 744 (2016) |
| §744. Executory contracts |
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Notwithstanding section 365(d)(1) of this title, the trustee shall assume or reject, under section 365 of this title, any executory contract of the debtor for the purchase or sale of a security in the ordinary course of the debtor's business, within a reasonable time after the date of the order for relief, but not to exceed 30 days. If the trustee does not assume such a contract within such time, such contract is rejected. |
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(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2613; Pub. L. 97–222, §10, July 27, 1982, 96 Stat. 238.) |
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HISTORICAL AND REVISION NOTES
SENATE REPORT NO. 95–989
Section 744 instructs the court to give the trustee a reasonable time, not to exceed 30 days, to assume or reject any executory contract of the stockbroker to buy or sell securities. Any contract not assumed within the time fixed by the court is considered to be rejected. AMENDMENTS1982—Pub. L. 97–222 inserted "but" after "relief,". |
| United States Code, 2012 Edition, Supplement 4, Title 11 - BANKRUPTCY |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 11 - BANKRUPTCY CHAPTER 7 - LIQUIDATION SUBCHAPTER III - STOCKBROKER LIQUIDATION Sec. 744 - Executory contracts |
| section 744 |
| 2016 |
| January 6, 2017 |
| Yes |
| standard |
| 92 Stat. 2613 96 Stat. 238 |
| Public Law 95-598, Public Law 97-222 |
