11 U.S.C. § 347 — Unclaimed property
submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 165 words · no verdicts yet
This bankruptcy law covers property left unclaimed after a case ends. Ninety days after final payments, the trustee stops unpaid checks and turns leftover property over to the court. Unclaimed property from certain reorganization plans instead goes to the debtor or new owner.
Ninety days after the final distribution under section 726, 1194, 1226, or 1326 of this title in a case under chapter 7, subchapter V of chapter 11, 12, or 13 1 of this title, as the case may be, the trustee shall stop payment on any check remaining unpaid, and any remaining property of the estate shall be paid into the court and disposed of under chapter 129 of title 28.
Any security, money, or other property remaining unclaimed at the expiration of the time allowed in a case under chapter 9, 11, or 12 of this title for the presentation of a security or the performance of any other act as a condition to participation in the distribution under any plan confirmed under section 943(b), 1129, 1173, 1191, or 1225 of this title, as the case may be, becomes the property of the debtor* or of the entity* acquiring the assets of the debtor under the plan, as the case may be.
Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2568; Pub. L. 99–554, title II, § 257(h), Oct. 27, 1986, 100 Stat. 3114; Pub. L. 116–54, § 4(a)(5), Aug. 23, 2019, 133 Stat. 1086; Pub. L. 116–136, div. A, title I, § 1113(a)(4)(B), Mar. 27, 2020, 134 Stat. 311.)
- 1978Enacted · Pub. L. 95-598 · 92 Stat. 2568
- 1986Amended · Pub. L. 99-554 · 100 Stat. 3114
- 2019Amended · Pub. L. 116-54 · 133 Stat. 1086
- 2020Amended · Pub. L. 116-136 · 134 Stat. 311
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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