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11 U.S.C. § 345 — Money of estates
Federal law — U.S. Code and appendices · legal_authorities
**(a)** A trustee in a case under this title may make such deposit or investment of the money of the estate for which such trustee serves as will yield the maximum reasonable net return on such money, taking into account the safety of such deposit or investment.
**(b)** Except with respect to a deposit or investment that is insured or guaranteed by the United States or by a department, agency, or instrumentality of the United States or backed by the full faith and credit of the United States, the trustee shall require from an entity with which such money is deposited or invested—
(1) a bond—
(A) in favor of the United States;
(B) secured by the undertaking of a corporate surety approved by the United States trustee for the district in which the case is pending; and
(C) conditioned on—
(i) a proper accounting for all money so deposited or invested and for any return on such money;
(ii) prompt repayment of such money and return; and
(iii) faithful performance of duties as a depository; or
(2) the deposit of securities of the kind specified in [section 9303 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section9303&num=0&edition=prelim);
unless the court for cause orders otherwise.
**(c)** An entity with which such moneys are deposited or invested is authorized to deposit or invest such moneys as may be required under this section.
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Source file: Laws/federal/codes/united-states-code/title-11/section-345-money-of-estates--ddbf575c53.md
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Source location: Title 11, Chapter 3, § 345; chapter-003-case-administration.md
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**(a)** A trustee in a case under this title may make such deposit or investment of the money of the estate for which such trustee serves as will yield the maximum reasonable net return on such money, taking into account the safety of such deposit or investment.
**(b)** Except with respect to a deposit or investment that is insured or guaranteed by the United States or by a department, agency, or instrumentality of the United States or backed by the full faith and credit of the United States, the trustee shall require from an entity with which such money is deposited or invested—
(1) a bond—
(A) in favor of the United States;
(B) secured by the undertaking of a corporate surety approved by the United States trustee for the district in which the case is pending; and
(C) conditioned on—
(i) a proper accounting for all money so deposited or invested and for any return on such money;
(ii) prompt repayment of such money and return; and
(iii) faithful performance of duties as a depository; or
(2) the deposit of securities of the kind specified in [section 9303 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section9303&num=0&edition=prelim);
unless the court for cause orders otherwise.
**(c)** An entity with which such moneys are deposited or invested is authorized to deposit or invest such moneys as may be required under this section.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** If a person is required under a law of the United States to give a surety bond, the person may give an eligible obligation as security instead of a surety bond. The obligation shall—
(1) be given to the official having authority to approve the surety bond;
(2) as determined by the Secretary of the Treasury, have a market value that is equal to or greater than the amount of the required surety bond; and
(3) authorize the official receiving the obligation to collect or sell the obligation if the person defaults on a required condition.
**(b)**
(1) An official receiving an eligible obligation under subsection (a) of this section may deposit it with—
(A) the Secretary of the Treasury;
(B) a Federal reserve bank; or
(C) a depositary designated by the Secretary.
(2) The Secretary, bank, or depositary shall issue a receipt that describes the obligation deposited.
**(c)** Using an eligible obligation instead of a surety bond for security is the same as using—
(1) a personal or corporate surety bond;
(2) a certified check;
(3) a bank draft;
(4) a post office money order; or
(5) cash.
**(d)** When security is no longer required, an eligible obligation given instead of a surety bond shall be returned to the person giving the obligation. If a person, supplying labor or material to a contractor defaulting under sections 3131 and 3133 of title 40, files with the United States Government the application and affidavit provided under [section 3133(a) of title 40](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title40-section3133/a&num=0&edition=prelim), the Government—
(1) may return to the contractor the eligible obligation given as security (or proceeds of the eligible obligation given) under sections 3131 and 3133 of title 40 only after th
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 9303
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The Attorney General shall appoint one United States trustee for each of the following regions composed of Federal judicial districts (without regard to section 451):
(1) The judicial districts established for the States of Maine, Massachusetts, New Hampshire, and Rhode Island.
(2) The judicial districts established for the States of Connecticut, New York, and Vermont.
(3) The judicial districts established for the States of Delaware, New Jersey, and Pennsylvania.
(4) The judicial districts established for the States of Maryland, North Carolina, South Carolina, Virginia, and West Virginia and for the District of Columbia.
(5) The judicial districts established for the States of Louisiana and Mississippi.
(6) The Northern District of Texas and the Eastern District of Texas.
(7) The Southern District of Texas and the Western District of Texas.
(8) The judicial districts established for the States of Kentucky and Tennessee.
(9) The judicial districts established for the States of Michigan and Ohio.
(10) The Central District of Illinois and the Southern District of Illinois; and the judicial districts established for the State of Indiana.
(11) The Northern District of Illinois; and the judicial districts established for the State of Wisconsin.
(12) The judicial districts established for the States of Minnesota, Iowa, North Dakota, and South Dakota.
(13) The judicial districts established for the States of Arkansas, Nebraska, and Missouri.
(14) The District of Arizona.
(15) The Southern District of California; and the judicial districts established for the State of Hawaii, and for Guam and the Commonwealth of the Northern Mariana Islands.
(16) The Central District of California.
(17) The Eastern District of California and the Northern District of Cal
Source: Supplied U.S. Code snapshot — release unconfirmed · 28 U.S.C. § 581
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Federal law — U.S. Code and appendices · legal_authorities
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
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Each United States trustee, within the region for which such United States trustee is appointed, shall—
(1) establish, maintain, and supervise a panel of private trustees that are eligible and available to serve as trustees in cases under chapter 7 of title 11;
(2) serve as and perform the duties of a trustee in a case under title 11 when required under title 11 to serve as trustee in such a case;
(3) supervise the administration of cases and trustees in cases under chapter 7, 11 (including subchapter V of chapter 11), 12, 13, or 15 of title 11 by, whenever the United States trustee considers it to be appropriate—
(A)
(i) reviewing, in accordance with procedural guidelines adopted by the Executive Office of the United States Trustee (which guidelines shall be applied uniformly by the United States trustee except when circumstances warrant different treatment), applications filed for compensation and reimbursement under [section 330 of title 11](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section330&num=0&edition=prelim); and
(ii) filing with the court comments with respect to such application and, if the United States Trustee considers it to be appropriate, objections to such application;
(B) monitoring plans and disclosure statements filed in cases under chapter 11 of title 11 and filing with the court, in connection with hearings under sections 1125 and 1128 of such title, comments with respect to such plans and disclosure statements;
(C) monitoring plans filed under chapters 12 and 13 of title 11 and filing with the court, in connection with hearings under sections 1224, 1229, 1324, and 1329 of such title, comments with respect to such plans;
(D) taking such action as the United States trustee deems to be appr
Source: Supplied U.S. Code snapshot — release unconfirmed · 28 U.S.C. § 586
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Federal law — U.S. Code and appendices · legal_authorities
Page 66
TITLE 11—BANKRUPTCY
§ 345
§ 345. Money of estates
(a) A trustee in a case under this title may
make such deposit or investment of the money
of the estate for which such trustee serves as
will yield the maximum reasonable net return
on such money, taking into account the safety
of such deposit or investment.
(b) Except with respect to a deposit or invest-
ment that is insured or guaranteed by the
United States or by a department, agency, or in-
strumentality of the United States or backed by
the full faith and credit of the United States,
the trustee shall require from an entity with
which such money is deposited or invested—
(1) a bond—
(A) in favor of the United States;
(B) secured by the undertaking of a cor-
porate surety approved by the United States
trustee for the district in which the case is
pending; and
(C) conditioned on—
(i) a proper accounting for all money so
deposited or invested and for any return on
such money;
(ii) prompt repayment of such money
and return; and
(iii) faithful performance of duties as a
depository; or
(2) the deposit of securities of the kind speci-
fied in section 9303 of title 31;
unless the court for cause orders otherwise.
(c) An entity with which such moneys are de-
posited or invested is authorized to deposit or
invest such moneys as may be required under
this section.
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2565; Pub. L.
97–258, § 3(c), Sept. 13, 1982, 96 Stat. 1064; Pub. L.
98–353, title III, § 437, July 10, 1984, 98 Stat. 370;
Pub. L. 99–554, title II, § 214, Oct. 27, 1986, 100
Stat. 3099; Pub. L. 103–394, title II, § 210, Oct. 22,
1994, 108 Stat. 4125.)
HISTORICAL AND REVISION NOTES
LEGISLATIVE STATEMENTS
The House amendment moves section 345(c) of the
House bill to chapter 15 as part o
Source: Supplied 2024 U.S. Code historical extraction · 11 U.S.C. § 345
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