11-U.S.C.-744

§744 – Executory Contracts

Pathway

Title 11 > Chapter 7 > Subchapter III > Section 744

Details

• Reference: Section 744
• Legend: §744 – Executory Contracts
• USCode Year: 2013

Provision Content

Notwithstanding section 365(d)(1) of this title, the trustee shall assume or reject, under section 365 of this title, any executory contract of the debtor for the purchase or sale of a security in the ordinary course of the debtors business, within a reasonable time after the date of the order for relief, but not to exceed 30 days. If the trustee does not assume such a contract within such time, such contract is rejected.

(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2613; Pub. L. 97–222, §10, July 27, 1982, 96 Stat. 238.)

Historical and Revision Notes

senate report no. 95–989

Section 744 instructs the court to give the trustee a reasonable time, not to exceed 30 days, to assume or reject any executory contract of the stockbroker to buy or sell securities. Any contract not assumed within the time fixed by the court is considered to be rejected.

Amendments

1982—Pub. L. 97–222 inserted but after relief,.

U.S. Encyclopedia of Law Coverage

Subchapter III – Stockbroker Liquidation in the Legal Encyclopedia: Bankruptcy

In this entry about Subchapter III – Stockbroker Liquidation, find legal reference material, bibliographies and premiere content related to bankruptcy in the American Encyclopedia of Law, presenting a comprehensive view of the United States bankruptcy-specific issues, written by authorities in the field.

11-U.S.C.-741 in the Legal Encyclopedia: Liquidation

In this entry about 11-U.S.C.-741, find legal reference material, bibliographies and premiere content related to liquidation in the American Encyclopedia of Law, presenting a comprehensive view of the United States liquidation-specific issues, written by authorities in the field.

Topic Map

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