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11 U.S.C. § 928 — Post petition effect of security interest

submitted 38 years ago by Pub. L. 100-597 to r/title-11-BANKRUPTCY · 85 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about post petition effect of security interest. It states the duties, permissions, limits, definitions, or penalties provided in the section.

(a) Notwithstanding section 552(a) of this title and subject to subsection (b) of this section, special revenues acquired by the debtor after the commencement of the case must remain subject to any lien resulting from any security agreement entered into by the debtor before the commencement of the case. (b) Any such lien on special revenues, other than municipal betterment assessments, derived from a project or system must be subject to the necessary operating expenses of such project or system, as the case may be.
the actual law source: uscode.house.gov ↗public domain
(a)

Notwithstanding section 552(a) of this title and subject to subsection (b) of this section, special revenues acquired by the debtor after the commencement of the case shall remain subject to any lien resulting from any security agreement entered into by the debtor before the commencement of the case.

(b)

Any such lien on special revenues, other than municipal betterment assessments, derived from a project or system shall be subject to the necessary operating expenses of such project or system, as the case may be.

Source credit: (Added Pub. L. 100–597, § 8, Nov. 3, 1988, 102 Stat. 3029.)

history & why it existsrecord from the source credit
  • 1988Enacted · Pub. L. 100-597 · 102 Stat. 3029

A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-597 on 1988-11-03.

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