11 U.S.C. § 1304 — Debtor engaged in business
submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 103 words · no verdicts yet
A self-employed debtor who incurs trade credit to produce income from that work is engaged in business. Such a debtor may operate the business and, subject to stated limits and conditions, use specified trustee rights and powers. The debtor must also perform the trustee duty specified in section 704(a)(8).
(a) A self-employed debtor* who incurs trade credit to produce income from that work is engaged in business.
(b) Unless the court orders otherwise, a debtor engaged in business may operate the debtor’s business. Subject to trustee limits under sections 363(c) and 364 and to court-imposed limits or conditions, the debtor—not the trustee—has the trustee’s rights and powers under those sections.
(c) A debtor engaged in business must perform the trustee duty specified in section 704(a)(8).
A debtor* that is self-employed and incurs trade credit in the production of income from such employment is engaged in business.
Unless the court orders otherwise, a debtor engaged in business may operate the business of the debtor and, subject to any limitations on a trustee under sections 363(c) and 364 of this title and to such limitations or conditions as the court prescribes, shall have, exclusive of the trustee, the rights and powers of the trustee under such sections.
A debtor engaged in business shall perform the duties of the trustee specified in section 704(a)(8) of this title.
Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2646; Pub. L. 98–353, title III, §§ 311(b)(2), 526, July 10, 1984, 98 Stat. 355, 389; Pub. L. 111–327, § 2(a)(40), Dec. 22, 2010, 124 Stat. 3562.)
- 1978Enacted · Pub. L. 95-598 · 92 Stat. 2646
- 1984Amended · Pub. L. 98-353 · 98 Stat. 355, 389
- 2010Amended · Pub. L. 111-327 · 124 Stat. 3562
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-598 on 1978-11-06.
all 0 arguments · sorted by: best
no arguments yet — make the first case