11 U.S.C. § 703 | Successor trustee

(a)

section 322 of this title section 324 of this title section 702 of this title If a trustee dies or resigns during a case, fails to qualify under , or is removed under , creditors may elect, in the manner specified in , a person to fill the vacancy in the office of trustee.

(b)

Pending election of a trustee under subsection (a) of this section, if necessary to preserve or prevent loss to the estate, the United States trustee may appoint an interim trustee in the manner specified in section 701(a).

(c)

section 350 of this title If creditors do not elect a successor trustee under subsection (a) of this section or if a trustee is needed in a case reopened under , then the United States trustee—

(1)

section 586(a)(1) of title 28 shall appoint one disinterested person that is a member of the panel of private trustees established under to serve as trustee in the case; or

(2)

may, if none of the disinterested members of such panel is willing to serve as trustee, serve as trustee in the case.

Pub. L. 95–598Nov. 6, 197892 Stat. 2605 Pub. L. 98–353, title III, § 473July 10, 198498 Stat. 381 Pub. L. 99–554, title II, § 216Oct. 27, 1986100 Stat. 3100(, , ; , , ; , , .)

Historical and Revision Notes

senate report no. 95–989

If the office of trustee becomes vacant during the case, this section makes provision for the selection of a successor trustee. The office might become vacant through death, resignation, removal, failure to qualify under section 322 by posting bond, or the reopening of a case. If it does, creditors may elect a successor in the same manner as they may elect a trustee under the previous section. Pending the election of a successor, the court may appoint an interim trustee in the usual manner if necessary to preserve or prevent loss to the estate. If creditors do not elect a successor, or if a trustee is needed in a reopened case, then the court appoints a disinterested member of the panel of private trustees to serve.

Editorial Notes

Amendments

Pub. L. 99–554 section 701 of this title1986—Subsec. (b). amended subsec. (b) generally, substituting “the United States trustee may appoint” for “the court may appoint” and “manner specified in section 701(a)” for “manner and subject to the provisions of ”.

Pub. L. 99–554Subsec. (c). amended subsec. (c) generally, substituting “this section or” for “this section, or”, “then the United States trustee” for “then the court”, designating part of existing provisions as par. (1), and, as so designated, substituting “586(a)(1)” for “604(f)”, “in the case; or” for “in the case.”, and adding par. (2).

Pub. L. 98–353 section 701 of this title section 701(a) of this title1984—Subsec. (b). substituted “and subject to the provisions of ” for “specified in . Sections 701(b) and 701(c) of this title apply to such interim trustee”.

Statutory Notes and Related Subsidiaries

Effective Date of 1986 Amendment

Pub. L. 99–554 Pub. L. 99–554 section 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.

Effective Date of 1984 Amendment

Pub. L. 98–353July 10, 1984section 552(a) of Pub. L. 98–353 section 101 of this titleAmendment by effective with respect to cases filed 90 days after , see , set out as a note under .