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11 U.S.C. § 1203 — Rights and powers of debtor

submitted 40 years ago by Pub. L. 99-554 to r/title-11-BANKRUPTCY · 68 words · no verdicts yet

in plain englishAI-generated · not legal advice

A debtor in possession generally has a chapter 11 trustee’s rights, powers, functions, and duties, except for compensation under section 330 and two specified duties. The debtor may operate a farm or commercial fishing operation.

Subject to court-set limits, a debtor in possession has all the rights and powers of a chapter 11 trustee, except the right to compensation under section 330. The debtor must perform the trustee’s functions and duties, except the duties in section 1106(a)(3) and (4). This includes operating the debtor’s farm or commercial fishing operation.

the actual law source: uscode.house.gov ↗public domain

Subject to such limitations as the court may prescribe, a debtor in possession shall have all the rights, other than the right to compensation under section 330, and powers, and shall perform all the functions and duties, except the duties specified in paragraphs (3) and (4) of section 1106(a), of a trustee serving in a case under chapter 11, including operating the debtor’s farm or commercial fishing operation.

Source credit: (Added and amended Pub. L. 99–554, title II, § 255, title III, § 302(f), Oct. 27, 1986, 100 Stat. 3107, 3124; Pub. L. 103–65, § 1, Aug. 6, 1993, 107 Stat. 311; Pub. L. 105–277, div. C, title I, § 149(a), Oct. 21, 1998, 112 Stat. 2681–610; Pub. L. 106–5, § 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L. 106–70, § 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107–8, § 1, May 11, 2001, 115 Stat. 10; Pub. L. 107–17, § 1, June 26, 2001, 115 Stat. 151; Pub. L. 107–170, § 1, May 7, 2002, 116 Stat. 133; Pub. L. 107–171, title X, § 10814(a), May 13, 2002, 116 Stat. 532; Pub. L. 107–377, § 2(a), Dec. 19, 2002, 116 Stat. 3115; Pub. L. 108–73, § 2(a), Aug. 15, 2003, 117 Stat. 891; Pub. L. 108–369, § 2(a), Oct. 25, 2004, 118 Stat. 1749; Pub. L. 109–8, title X, §§ 1001(a)(1), (c), 1007(c)(2), Apr. 20, 2005, 119 Stat. 185, 186, 188.)

history & why it existsrecord from the source credit
  • 1986Enacted · Pub. L. 99-554 · 100 Stat. 3107, 3124
  • 1993Amended · Pub. L. 103-65 · 107 Stat. 311
  • 1998Amended · Pub. L. 105-277 · 112 Stat. 2681
  • 1999Amended · Pub. L. 106-5 · 113 Stat. 9
  • 1999Amended · Pub. L. 106-70 · 113 Stat. 1031
  • 2001Amended · Pub. L. 107-8 · 115 Stat. 10
  • 2001Amended · Pub. L. 107-17 · 115 Stat. 151
  • 2002Amended · Pub. L. 107-170 · 116 Stat. 133
  • 2002Amended · Pub. L. 107-171 · 116 Stat. 532
  • 2002Amended · Pub. L. 107-377 · 116 Stat. 3115
  • 2003Amended · Pub. L. 108-73 · 117 Stat. 891
  • 2004Amended · Pub. L. 108-369 · 118 Stat. 1749
  • 2005Amended · Pub. L. 109-8 · 119 Stat. 185, 186, 188

A history note hasn’t been published yet. The record shows enactment by Pub. L. 99-554 on 1986-10-27.

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