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11 U.S.C. · Bankruptcy
11 U.S.C. § 748

Reduction of securities to money

Ch. 7 — LIQUIDATION
Title 11 U.S.C. ● ACTIVE Primary Source Ch. 7
Statutory Text

11 U.S.C. § 748 — Reduction of securities to money

U.S.C. Title 11 - BANKRUPTCY 11 U.S.C. United States Code, 2023 Edition Title 11 - BANKRUPTCY CHAPTER 7 - LIQUIDATION SUBCHAPTER III - STOCKBROKER LIQUIDATION Sec. 748 - Reduction of securities to money From the U.S. Government Publishing Office, www.gpo.gov

§748. Reduction of securities to money

As soon as practicable after the date of the order for relief, the trustee shall reduce to money, consistent with good market practice, all securities held as property of the estate, except for customer name securities delivered or reclaimed under section 751 of this title.

(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2614.)

Historical and Revision Notes senate report no. 95–989 Section 748 requires the trustee to liquidate all securities, except for customer name securities, of the estate in a manner consistent with good market practice. The trustee should refrain from flooding a thin market with a large percentage of shares in any one issue. If the trustee holds restricted securities or securities in which trading has been suspended, then the trustee must arrange to liquidate such securities in accordance with the securities laws. A private placement may be the only exemption available with the customer of the debtor the best prospect for such a placement. The subsection does not permit such a customer to bid in his net equity as part of the purchase price; a contrary result would permit a customer to receive a greater percentage on his net equity claim than other customers.

Source: uscode.house.gov — public domain Official Source ↗
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◈ Machine-Readable Provenance Record Root-LD v1.0 · boisestandard.org
Federation ID
BS-USC11-SEC-623D05
Entity Class
STATUTE / FEDERAL-CODE-SECTION
Domain Signature
boisestandard.org
Citation
11 U.S.C. § 748
Jurisdiction
Federal — United States
Status
✓ ACTIVE
Source
PRIMARY-SOURCE
Source Verified
✓ TRUE
Content Hash
52632487706b3069...
Semantic Edges
Pending — corpus passes queued
The statutory text of 11 U.S.C. § 748 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 11 U.S.C. § 747 11 U.S.C. § 749 →
Ch. 7 — LIQUIDATION
11 U.S.C. § 70111 U.S.C. § 70211 U.S.C. § 70311 U.S.C. § 70411 U.S.C. § 70511 U.S.C. § 70611 U.S.C. § 70711 U.S.C. § 72111 U.S.C. § 72211 U.S.C. § 72311 U.S.C. § 72411 U.S.C. § 72511 U.S.C. § 72611 U.S.C. § 72711 U.S.C. § 72811 U.S.C. § 74111 U.S.C. § 74211 U.S.C. § 74311 U.S.C. § 74411 U.S.C. § 74511 U.S.C. § 74611 U.S.C. § 74711 U.S.C. § 74811 U.S.C. § 74911 U.S.C. § 75011 U.S.C. § 75111 U.S.C. § 75211 U.S.C. § 75311 U.S.C. § 76111 U.S.C. § 762
11 U.S.C. — public domain ← All Legislation
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boisestandard.org → United States → Law → U.S. Code → Title 11 → 11 U.S.C. § 748