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11 U.S.C. § 748 — Reduction of securities to money
Federal law — U.S. Code and appendices · legal_authorities
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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section751&num=0&edition=prelim).
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Source file: Laws/federal/codes/united-states-code/title-11/section-748-reduction-of-securities-to-money--d87466d394.md
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Source location: Title 11, Chapter 7, § 748; chapter-007-liquidation.md
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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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section751&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
The trustee shall deliver any customer name security to or on behalf of the customer entitled to such security, unless such customer has a negative net equity. With the approval of the trustee, a customer may reclaim a customer name security after payment to the trustee, within such period as the trustee allows, of any claim of the debtor against such customer to the extent that such customer will not have a negative net equity after such payment.
Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 751
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Federal law — U.S. Code and appendices · legal_authorities
The trustee may not distribute a security except under [section 751 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section751&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 750
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Federal law — U.S. Code and appendices · legal_authorities
Page 213
TITLE 11—BANKRUPTCY
§ 751
(A) nonconvertible stock having fixed pref-
erential dividend and liquidation rights; or
(B) interests of limited partners in a lim-
ited partnership;
(3) a limited partner with a participation of
at least five percent in the net assets or net
profits of the debtor; or
(4) an entity that, directly or indirectly,
through agreement or otherwise, exercised or
had the power to exercise control over the
management or policies of the debtor.
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2613; Pub. L.
97–222, § 13, July 27, 1982, 96 Stat. 238.)
HISTORICAL AND REVISION NOTES
SENATE REPORT NO. 95–989
Section 747 subordinates to other customer claims,
all claims of a customer who is an insider, a five per-
cent owner of the debtor, or otherwise in control of the
debtor.
Editorial Notes
AMENDMENTS
1982—Pub. L. 97–222 substituted ‘‘the transaction giv-
ing rise to such claim occurred’’ for ‘‘such claim arose’’
in provisions preceding par. (1).
§ 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, ex-
cept 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 secu-
rities, except for customer name securities, of the es-
tate 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
Source: Supplied 2024 U.S. Code historical extraction · 11 U.S.C. § 748
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