11 U.S.C. § 728 — Untitled legal text

Page 208 TITLE 11—BANKRUPTCY [§ 728 within’’ for ‘‘section, within’’ and ‘‘discharge is grant- ed’’ for ‘‘discharge was granted’’ in par. (1), ‘‘section be- fore’’ for ‘‘section, before’’ in provisions of par. (2) pre- ceding subpar. (A), and ‘‘discharge; and’’ for ‘‘discharge; or’’ in par. (2)(A). 1984—Subsec. (a)(6)(C). Pub. L. 98–353, § 480(a)(1), sub- stituted ‘‘properly’’ for ‘‘property’’. Subsec. (a)(7). Pub. L. 98–353, § 480(a)(2), inserted ‘‘, under this title or under the Bankruptcy Act,’’ after ‘‘another case’’. Subsec. (a)(8). Pub. L. 98–353, § 480(a)(3), substituted ‘‘371,’’ for ‘‘371’’. Subsec. (c)(1). Pub. L. 98–353, § 480(b), substituted ‘‘to the granting of a discharge’’ for ‘‘to discharge’’. Subsec. (e)(2)(A). Pub. L. 98–353, § 480(c), substituted ‘‘or’’ for ‘‘and’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2005 AMENDMENT Amendment by section 603(d) of Pub. L. 109–8 effec- tive 18 months after Apr. 20, 2005, see section 603(e) of Pub. L. 109–8, set out as a note under section 521 of this title. Amendments by sections 106(b), 312(1), and 330(a) of Pub. L. 109–8 effective 180 days after Apr. 20, 2005, with amendments by sections 106(b) and 312(1) of Pub. L. 109–8 not applicable with respect to cases commenced under this title before such effective date, except as otherwise provided, and amendment by section 330(a) of Pub. L. 109–8 applicable with respect to cases com- menced under this title on or after Apr. 20, 2005, see section 1501 of Pub. L. 109–8, set out as a note under sec- tion 101 of this title. EFFECTIVE DATE OF 1986 AMENDMENT Amendment by section 257 of Pub. L. 99–554 effective 30 days after Oct. 27, 1986, but not applicable to cases commenced under this title before that date, see sec- tion 302(a), (c)(1) of Pub. L. 99–554, set out as a note under section 581 of Title 28, Judiciary and Judicial Procedure. Effective date and applicability of amendment by sec- tion 220 of Pub. L. 99–554 dependent upon the judicial district involved, see section 302(d), (e) of Pub. L. 99–554. EFFECTIVE DATE OF 1984 AMENDMENT Amendment by Pub. L. 98–353 effective with respect to cases filed 90 days after July 10, 1984, see section 552(a) of Pub. L. 98–353, set out as a note under section 101 of this title. [§ 728. Repealed. Pub. L. 109–8, title VII, § 719(b)(1), Apr. 20, 2005, 119 Stat. 133] Section, Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2611; Pub. L. 98–353, title III, § 481, July 10, 1984, 98 Stat. 382; Pub. L. 99–554, title II, § 257(t), Oct. 27, 1986, 100 Stat. 3116, re- lated to special tax provisions. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal effective 180 days after Apr. 20, 2005, and not applicable with respect to cases commenced under this title before such effective date, except as otherwise provided, see section 1501 of Pub. L. 109–8, set out as an Effective Date of 2005 Amendment note under section 101 of this title. SUBCHAPTER III—STOCKBROKER LIQUIDATION § 741. Definitions for this subchapter In this subchapter— (1) ‘‘Commission’’ means Securities and Ex- change Commission; (2) ‘‘customer’’ includes— (A) entity with whom a person deals as principal or agent and that has a claim against such person on account of a security received, acquired, or held by such person in the ordinary course of such person’s business as a stockbroker, from or for the securities account or accounts of such entity— (i) for safekeeping; (ii) with a view to sale; (iii) to cover a consummated sale; (iv) pursuant to a purchase; (v) as collateral under a security agree- ment; or (vi) for the purpose of effecting registra- tion of transfer; and (B) entity that has a claim against a per- son arising out of— (i) a sale or conversion of a security re- ceived, acquired, or held as specified in subparagraph (A) of this paragraph; or (ii) a deposit of cash, a security, or other property with such person for the purpose of purchasing or selling a security; (3) ‘‘customer name security’’ means secu- rity— (A) held for the account of a customer on the date of the filing of the petition by or on behalf of the debtor; (B) registered in such customer’s name on such date or in the process of being so reg- istered under instructions from the debtor; and (C) not in a form transferable by delivery on such date; (4) ‘‘customer property’’ means cash, secu- rity, or other property, and proceeds of such cash, security, or property, received, acquired, or held by or for the account of the debtor, from or for the securities account of a cus- tomer— (A) including— (i) property that was unlawfully con- verted from and that is the lawful property of the estate; (ii) a security held as property of the debtor to the extent such security is nec- essary to meet a net equity claim of a cus- tomer based on a security of the same class and series of an issuer; (iii) resources provided through the use or realization of a customer’s debit cash balance or a debit item includible in the Formula for Determination of Reserve Re- quirement for Brokers and Dealers as pro- mulgated by the Commission under the Se- curities Exchange Act of 1934; and (iv) other property of the debtor that any applicable law, rule, or regulation re- quires to be set aside or held for the ben- efit of a customer, unless including such property as customer property would not significantly increase customer property; but (B) not including— (i) a customer name security delivered to or reclaimed by a customer under section 751 of this title; or (ii) property to the extent that a cus- tomer does not have a claim against the debtor based on such property;