Browse Arkansas Code titles and sections

11 U.S.C. § 542 — Turnover of property to the estate

Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 542 — Turnover of property to the estate

Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 542

Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.

Original supplied file — preserved unchanged

Download original Markdown file

File SHA-256: fb68610ef2ec0ef69272e08cccfff053f6e40a5686fddf1d51db3130400172b1. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.

Authority boundary: historical or unconfirmed source not current law verified.

Open the recorded source website ↗

Record provenance

Stable record: federal_law:legal_authorities:record_usc_5bcfdb08cceecfd9ed485c04
Source file: Laws/federal/codes/united-states-code/title-11/section-542-turnover-of-property-to-the-estate--122bbbbf12.md
Pages: Not recorded – Not recorded
Passage SHA-256: 28c0b82c125886645fde7956fbf9ade91cb98a5bdf48d1d75b4cdaee498595ff

Source location: Title 11, Chapter 5, § 542; chapter-005-creditors-the-debtor-and-the-estate.md

Stored source content

**(a)** Except as provided in subsection (c) or (d) of this section, an entity, other than a custodian, in possession, custody, or control, during the case, of property that the trustee may use, sell, or lease under [section 363 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section363&num=0&edition=prelim), or that the debtor may exempt under [section 522 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section522&num=0&edition=prelim), shall deliver to the trustee, and account for, such property or the value of such property, unless such property is of inconsequential value or benefit to the estate. **(b)** Except as provided in subsection (c) or (d) of this section, an entity that owes a debt that is property of the estate and that is matured, payable on demand, or payable on order, shall pay such debt to, or on the order of, the trustee, except to the extent that such debt may be offset under [section 553 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section553&num=0&edition=prelim) against a claim against the debtor. **(c)** Except as provided in [section 362(a)(7) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section362/a/7&num=0&edition=prelim), an entity that has neither actual notice nor actual knowledge of the commencement of the case concerning the debtor may transfer property of the estate, or pay a debt owing to the debtor, in good faith and other than in the manner specified in subsection (d) of this section, to an entity other than the trustee, with the same effect as to the entity making such transfer or payment as if the case under this title concerning the debtor had not been commenced. **(d)** A life insurance company may transfer property of the estate or property of the debtor to such company in good faith, with the same effect with respect to such company as if the case under this title concerning the debtor had not been commenced, if such transfer is to pay a premium or to carry out a nonforfeiture insurance option, and is required to be made automatically, under a life insurance contract with such company that was entered into before the date of the filing of the petition and that is property of the estate. **(e)** Subject to any applicable privilege, after notice and a hearing, the court may order an attorney, accountant, or other person that holds recorded information, including books, documents, records, and papers, relating to the debtor’s property or financial affairs, to turn over or disclose such recorded information to the trustee.

Cross-references

Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.

Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 363 — Use, sale, or lease of property

**(a)** In this section, “cash collateral” means cash, negotiable instruments, documents of title, securities, deposit accounts, or other cash equivalents whenever acquired in which the estate and an entity other than the estate have an interest and includes the proceeds, products, offspring, rents, or profits of property and the fees, charges, accounts or other payments for the use or occupancy of rooms and other public facilities in hotels, motels, or other lodging properties subject to a security interest as provided in [section 552(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section552/b&num=0&edition=prelim), whether existing before or after the commencement of a case under this title. **(b)** (1) The trustee, after notice and a hearing, may use, sell, or lease, other than in the ordinary course of business, property of the estate, except that if the debtor in connection with offering a product or a service discloses to an individual a policy prohibiting the transfer of personally identifiable information about individuals to persons that are not affiliated with the debtor and if such policy is in effect on the date of the commencement of the case, then the trustee may not sell or lease personally identifiable information to any person unless— (A) such sale or such lease is consistent with such policy; or (B) after appointment of a consumer privacy ombudsman in accordance with section 332, and after notice and a hearing, the court approves such sale or such lease— (i) giving due consideration to the facts, circumstances, and conditions of such sale or such lease; and (ii) finding that no showing was made that such sale or such lease would violate applicable nonbankruptcy law. (2) If notification is requi

Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 363

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 550 — Liability of transferee of avoided transfer

**(a)** Except as otherwise provided in this section, to the extent that a transfer is avoided under section 544, 545, 547, 548, 549, 553(b), or 724(a) of this title, the trustee may recover, for the benefit of the estate, the property transferred, or, if the court so orders, the value of such property, from— (1) the initial transferee of such transfer or the entity for whose benefit such transfer was made; or (2) any immediate or mediate transferee of such initial transferee. **(b)** The trustee may not recover under section 11 So in original. Probably should be “subsection”. (a)(2) of this section from— (1) a transferee that takes for value, including satisfaction or securing of a present or antecedent debt, in good faith, and without knowledge of the voidability of the transfer avoided; or (2) any immediate or mediate good faith transferee of such transferee. **(c)** If a transfer made between 90 days and one year before the filing of the petition— (1) is avoided under [section 547(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section547/b&num=0&edition=prelim); and (2) was made for the benefit of a creditor that at the time of such transfer was an insider; the trustee may not recover under subsection (a) from a transferee that is not an insider. **(d)** The trustee is entitled to only a single satisfaction under subsection (a) of this section. **(e)** (1) A good faith transferee from whom the trustee may recover under subsection (a) of this section has a lien on the property recovered to secure the lesser of— (A) the cost, to such transferee, of any improvement made after the transfer, less the amount of any profit realized by or accruing to such transferee from such property; and (B) any increase in the valu

Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 550

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 522 — Exemptions

**(a)** In this section— (1) “dependent” includes spouse, whether or not actually dependent; and (2) “value” means fair market value as of the date of the filing of the petition or, with respect to property that becomes property of the estate after such date, as of the date such property becomes property of the estate. **(b)** (1) Notwithstanding [section 541 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section541&num=0&edition=prelim), an individual debtor may exempt from property of the estate the property listed in either paragraph (2) or, in the alternative, paragraph (3) of this subsection. In joint cases filed under [section 302 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section302&num=0&edition=prelim) and individual cases filed under section 301 or 303 of this title by or against debtors who are husband and wife, and whose estates are ordered to be jointly administered under Rule 1015(b) of the Federal Rules of Bankruptcy Procedure, one debtor may not elect to exempt property listed in paragraph (2) and the other debtor elect to exempt property listed in paragraph (3) of this subsection. If the parties cannot agree on the alternative to be elected, they shall be deemed to elect paragraph (2), where such election is permitted under the law of the jurisdiction where the case is filed. (2) Property listed in this paragraph is property that is specified under subsection (d), unless the State law that is applicable to the debtor under paragraph (3)(A) specifically does not so authorize. (3) Property listed in this paragraph is— (A) subject to subsections (o) and (p), any property that is exempt under Federal law, other than subsection (d) of this section, or State or local law th

Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 522

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 101 — Definitions

In this title the following definitions shall apply: (1) The term “accountant” means accountant authorized under applicable law to practice public accounting, and includes professional accounting association, corporation, or partnership, if so authorized. (2) The term “affiliate” means— (A) entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities— (i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or (ii) solely to secure a debt, if such entity has not in fact exercised such power to vote; (B) corporation 20 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor, or by an entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities— (i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or (ii) solely to secure a debt, if such entity has not in fact exercised such power to vote; (C) person whose business is operated under a lease or operating agreement by a debtor, or person substantially all of whose property is operated under an operating agreement with the debtor; or (D) entity that operates the business or substantially all of the property of the debtor under a lease or operating agreement. (3) The term “assisted person” means any person whose debts consist primarily of consumer debts and the value of whose nonexempt property is less than $150,000.11 See Adjustment of Dollar Amounts not

Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 101

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 553 — Setoff

**(a)** Except as otherwise provided in this section and in sections 362 and 363 of this title, this title does not affect any right of a creditor to offset a mutual debt owing by such creditor to the debtor that arose before the commencement of the case under this title against a claim of such creditor against the debtor that arose before the commencement of the case, except to the extent that— (1) the claim of such creditor against the debtor is disallowed; (2) such claim was transferred, by an entity other than the debtor, to such creditor— (A) after the commencement of the case; or (B) (i) after 90 days before the date of the filing of the petition; and (ii) while the debtor was insolvent (except for a setoff of a kind described in section 362(b)(6), 362(b)(7), 362(b)(17), 362(b)(27), 555, 556, 559, 560, or 561); or (3) the debt owed to the debtor by such creditor was incurred by such creditor— (A) after 90 days before the date of the filing of the petition; (B) while the debtor was insolvent; and (C) for the purpose of obtaining a right of setoff against the debtor (except for a setoff of a kind described in section 362(b)(6), 362(b)(7), 362(b)(17), 362(b)(27), 555, 556, 559, 560, or 561). **(b)** (1) Except with respect to a setoff of a kind described in section 362(b)(6), 362(b)(7), 362(b)(17), 362(b)(27), 555, 556, 559, 560, 561, 365(h), 546(h), or 365(i)(2) of this title, if a creditor offsets a mutual debt owing to the debtor against a claim against the debtor on or within 90 days before the date of the filing of the petition, then the trustee may recover from such creditor the amount so offset to the extent that any insufficiency on the date of such setoff is less than the insufficiency on the later of— (A) 90 days before the

Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 553

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 542 — Turnover of property to the estate

Page 165 TITLE 11—BANKRUPTCY § 542 Subsec. (b)(7). Pub. L. 109–8, § 323, added par. (7). Subsec. (b)(8). Pub. L. 109–8, § 1230, added par. (8). Subsec. (b)(9). Pub. L. 109–8, § 225(a)(1)(B), redesig- nated par. (5) as (9). Subsec. (e). Pub. L. 109–8, § 225(a)(2), added subsec. (e). Subsec. (f). Pub. L. 109–8, § 1221(c), added subsec. (f). 1994—Subsec. (b)(4). Pub. L. 103–394, § 208(b), des- ignated existing provisions of subpar. (A) as cl. (i) of subpar. (A), redesignated subpar. (B) as cl. (ii) of sub- par. (A), substituted ‘‘the interest referred to in clause (i)’’ for ‘‘such interest’’, substituted ‘‘; or’’ for period at end of cl. (ii), and added subpar. (B). Pub. L. 103–394, § 223(2), which directed the amend- ment of subsec. (b)(4) by striking out period at end and inserting ‘‘; or’’, was executed by inserting ‘‘or’’ after semicolon at end of subsec. (b)(4)(B)(ii), as added by Pub. L. 103–394, § 208(b)(3), to reflect the probable intent of Congress. Subsec. (b)(5). Pub. L. 103–394, § 223, added par. (5). 1992—Subsec. (b). Pub. L. 102–486 added par. (4) and closing provisions. 1990—Subsec. (b)(3). Pub. L. 101–508 added par. (3). 1984—Subsec. (a). Pub. L. 98–353, § 456(a)(1), (2), struck out ‘‘under’’ after ‘‘under’’ and inserted ‘‘and by whom- ever held’’ after ‘‘located’’. Subsec. (a)(3). Pub. L. 98–353, § 456(a)(3), inserted ‘‘329(b), 363(n),’’. Subsec. (a)(5). Pub. L. 98–353, § 456(a)(4), substituted ‘‘Any’’ for ‘‘An’’. Subsec. (a)(6). Pub. L. 98–353, § 456(a)(5), substituted ‘‘or profits’’ for ‘‘and profits’’. Subsec. (b). Pub. L. 98–353, § 363(a), amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows: ‘‘Property of the estate does not include any power that the debtor may only exercise solely for the benef

Source: Supplied 2024 U.S. Code historical extraction · 11 U.S.C. § 542

Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.