2019 US Code
Title 11 - Bankruptcy
Chapter 9 - Adjustment of Debts of a Municipality
Subchapter III - The Plan
Sec. 946 - Effect of exchange of securities before the date of the filing of the petition
| 11 U.S.C. § 946 (2019) |
| §946. Effect of exchange of securities before the date of the filing of the petition |
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The exchange of a new security under the plan for a claim covered by the plan, whether such exchange occurred before or after the date of the filing of the petition, does not limit or impair the effectiveness of the plan or of any provision of this chapter. The amount and number specified in section 1126(c) of this title include the amount and number of claims formerly held by a creditor that has participated in any such exchange. |
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(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2625.) |
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HISTORICAL AND REVISION NOTES
LEGISLATIVE STATEMENTS
The House amendment deletes section 950 of the Senate amendment as unnecessary. The constitutionality of chapter 9 of the House amendment is beyond doubt. SENATE REPORT NO. 95–989[Section 949] This section [enacted as section 946], which follows section 97 of current law [section 417 of former title 11], permits an exchange of a security before the case is filed to constitute an acceptance of the plan if the exchange was under a proposal that later becomes the plan.
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| United States Code, 2018 Edition, Supplement 1, Title 11 - BANKRUPTCY |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 11 - BANKRUPTCY CHAPTER 9 - ADJUSTMENT OF DEBTS OF A MUNICIPALITY SUBCHAPTER III - THE PLAN Sec. 946 - Effect of exchange of securities before the date of the filing of the petition |
| section 946 |
| 2019 |
| January 24, 2020 |
| Yes |
| standard |
| 92 Stat. 2625 |
| Public Law 95-598 |
