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11 U.S.C. § 322 — Qualification of trustee

submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 173 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

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

Except as provided in subsection (b)(1), a person selected under section 701, 702, 703, 1104, 1163, 1183, 1202, or 1302 of this title to serve as trustee in a case under this title qualifies if before seven days after such selection, and before beginning official duties, such person has filed with the court a bond in favor of the United States conditioned on the faithful performance of such official duties.

(b)
(1)

The United States trustee qualifies wherever such trustee serves as trustee in a case under this title.

(2)

The United States trustee shall determine—

(A)

the amount of a bond required to be filed under subsection (a) of this section; and

(B)

the sufficiency of the surety on such bond.

(c)

A trustee is not liable personally or on such trustee’s bond in favor of the United States for any penalty or forfeiture incurred by the debtor.

(d)

A proceeding on a trustee’s bond may not be commenced after two years after the date on which such trustee was discharged.

Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2562; Pub. L. 98–353, title III, § 429, July 10, 1984, 98 Stat. 369; Pub. L. 99–554, title II, §§ 207, 257(d), Oct. 27, 1986, 100 Stat. 3098, 3114; Pub. L. 103–394, title V, § 501(d)(3), Oct. 22, 1994, 108 Stat. 4143; Pub. L. 111–16, § 2(2), May 7, 2009, 123 Stat. 1607; Pub. L. 116–54, § 4(a)(3), Aug. 23, 2019, 133 Stat. 1085.)

history & why it existsrecord from the source credit
  • 1978Enacted · Pub. L. 95-598 · 92 Stat. 2562
  • 1984Amended · Pub. L. 98-353 · 98 Stat. 369
  • 1986Amended · Pub. L. 99-554 · 100 Stat. 3098, 3114
  • 1994Amended · Pub. L. 103-394 · 108 Stat. 4143
  • 2009Amended · Pub. L. 111-16 · 123 Stat. 1607
  • 2019Amended · Pub. L. 116-54 · 133 Stat. 1085

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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