11 U.S.C. § 1143 — Distribution
submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 80 words · no verdicts yet
If a plan requires a person to present or surrender a security, or take another action, to receive a distribution, that action must occur within 5 years after confirmation. Otherwise, the person cannot receive the distribution.
If a plan requires someone to present or surrender a security, or take another action, as a condition for participating in distributions, the action must occur no later than 5 years after the confirmation order is entered. An entity* that has not done so by then may not participate in distributions under the plan.
If a plan requires presentment or surrender of a security or the performance of any other act as a condition to participation in distribution under the plan, such action shall be taken not later than five years after the date of the entry of the order of confirmation. Any entity* that has not within such time presented or surrendered such entity’s security or taken any such other action that the plan requires may not participate in distribution under the plan.
Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2639.)
- 1978Enacted · Pub. L. 95-598 · 92 Stat. 2639
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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