Pub. L. 95–59892 Stat. 2562Pub. L. 98–353, title III, § 42998 Stat. 369Pub. L. 99–554, title II100 Stat. 3098Pub. L. 103–394, title V, § 501(d)(3)108 Stat. 4143Pub. L. 111–16, § 2(2)123 Stat. 1607Pub. L. 116–54, § 4(a)(3)133 Stat. 1085(, , ; , , ; , §§ 207, 257(d), , , 3114; , , ; , , ; , , .)
Historical and Revision Notes
legislative statements
Section 322(a) is modified to include a trustee serving in a railroad reorganization under subchapter IV of chapter 11.
senate report no. 95–989
A trustee qualifies in a case by filing, within five days after selection, a bond in favor of the United States, conditioned on the faithful performance of his official duties. This section is derived from the Bankruptcy Act section 50b [section 78(b) of former title 11]. The court is required to determine the amount of the bond and the sufficiency of the surety on the bond. Subsection (c), derived from Bankruptcy Act section 50i [section 78(i) of former title 11], relieves the trustee from personal liability and from liability on his bond for any penalty or forfeiture incurred by the debtor. Subsection (d), derived from section 50m [section 78(m) of former title 11], fixes a two-year statute of limitations on any action on a trustee’s bond. Finally, subsection (e) dispenses with the bonding requirement for the United States trustee.
Editorial Notes
Amendments
Pub. L. 116–542019—Subsec. (a). inserted “1183,” after “1163,”.
Pub. L. 111–162009—Subsec. (a). substituted “seven days” for “five days”.
Pub. L. 103–3941994—Subsec. (a). substituted “1202, or 1302” for “1302, or 1202”.
Pub. L. 99–554, § 257(d)section 1202 of this title1986—Subsec. (a). , inserted reference to .
Pub. L. 99–554, § 207(1), substituted “Except as provided in subsection (b)(1), a person” for “A person”.
Pub. L. 99–554, § 207(2)Subsec. (b). , amended subsec. (b) generally, adding par. (1), designating existing provisions as par. (2), substituting “The United States trustee” for “The court”, “(A) the amount” for “(1) the amount”, and “(B) the sufficiency” for “(2) the sufficiency”.
Pub. L. 98–3531984—Subsec. (b)(1). inserted “required to be”.
Statutory Notes and Related Subsidiaries
Effective Date of 2019 Amendment
Pub. L. 116–54section 5 of Pub. L. 116–54section 101 of this titleAmendment by effective 180 days after , see , set out as a note under .
Effective Date of 2009 Amendment
Pub. L. 111–16section 7 of Pub. L. 111–16section 109 of this titleAmendment by effective , see , set out as a note under .
Effective Date of 1994 Amendment
Pub. L. 103–394section 702 of Pub. L. 103–394section 101 of this titleAmendment by effective , and not applicable with respect to cases commenced under this title before , see , set out as a note under .
Effective Date of 1986 Amendment
section 207 of Pub. L. 99–554Pub. L. 99–554section 581 of Title 28Effective date and applicability of amendment by dependent upon the judicial district involved, see section 302(d), (e) of , set out as a note under , Judiciary and Judicial Procedure.
section 257 of Pub. L. 99–554Pub. L. 99–554Amendment by effective 30 days after , but not applicable to cases commenced under this title before that date, see section 302(a), (c)(1) of .
Effective Date of 1984 Amendment
Pub. L. 98–353section 552(a) of Pub. L. 98–353section 101 of this titleAmendment by effective with respect to cases filed 90 days after , see , set out as a note under .