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11 U.S.C. § 705Creditors’ committee

submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 123 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about Creditors’ committee. It also provides the conditions, exceptions, procedures, or penalties stated in the section.

(a) At the meeting under section 341(a) of this title , creditors that may vote for a trustee under section 702(a) of this title may elect a committee of not fewer than three, and not more than eleven, creditors, each of whom holds an allowable unsecured claim of a kind entitled to distribution under section 726(a)(2) of this title . (b) A committee elected under subsection (a) of this section may consult with the trustee or the United States trustee in connection with the administration of the estate, make recommendations to the trustee or the United States trustee respecting the performance of the trustee’s duties, and submit to the court or the United States trustee any question affecting the administration of the estate.
the actual law source: uscode.house.gov ↗public domain
(a)

At the meeting under section 341(a) of this title, creditors that may vote for a trustee under section 702(a) of this title may elect a committee of not fewer than three, and not more than eleven, creditors, each of whom holds an allowable unsecured claim of a kind entitled to distribution under section 726(a)(2) of this title.

(b)

A committee elected under subsection (a) of this section may consult with the trustee or the United States trustee in connection with the administration of the estate, make recommendations to the trustee or the United States trustee respecting the performance of the trustee’s duties, and submit to the court or the United States trustee any question affecting the administration of the estate.

Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2605; Pub. L. 99–554, title II, § 218, Oct. 27, 1986, 100 Stat. 3100.)

history & why it existsrecord from the source credit
  • 1978Enacted · Pub. L. 95-598 · 92 Stat. 2605
  • 1986Amended · Pub. L. 99-554 · 100 Stat. 3100

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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