11 U.S.C. § 751 — Customer name securities
submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 78 words · no verdicts yet
This section requires the trustee to deliver a customer-name security to the entitled customer unless that customer has negative net equity. It also permits reclamation after payment of the debtor’s claim under the stated condition.
The trustee shall deliver any customer name security to or on behalf of the customer entitled to that security, unless that customer has a negative net equity. With the approval of the trustee, a customer may reclaim a customer name security after payment to the trustee, within that period as the trustee allows, of any claim* of the debtor* against that customer to the extent that that customer will not have a negative net equity after that payment.
The trustee shall deliver any customer name security to or on behalf of the customer entitled to such security, unless such customer has a negative net equity. With the approval of the trustee, a customer may reclaim a customer name security after payment to the trustee, within such period as the trustee allows, of any claim* of the debtor* against such customer to the extent that such customer will not have a negative net equity after such payment.
Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2614.)
- 1978Enacted · Pub. L. 95-598 · 92 Stat. 2614
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-598 on 1978-11-06.
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