11-U.S.C.-763

§763 – Treatment of Accounts

Pathway

Title 11 > Chapter 7 > Subchapter IV > Section 763

Details

• Reference: Section 763
• Legend: §763 – Treatment of Accounts
• USCode Year: 2013

Provision Content

(a) Accounts held by the debtor for a particular customer in separate capacities shall be treated as accounts of separate customers.

(b) A member of a clearing organization shall be deemed to hold such members proprietary account in a separate capacity from such members customers’ account.

(c) The net equity in a customers account may not be offset against the net equity in the account of any other customer.

(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2618; Pub. L. 98–353, title III, §486, July 10, 1984, 98 Stat. 383.)

Historical and Revision Notes

senate report no. 95–989

Section 763 provides for separate treatment of accounts held in separate capacities. A deficit in one account held for a customer may not be offset against the net equity in another account held by the same customer in a separate capacity or held by another customer.

Amendments

1984—Subsec. (a). Pub. L. 98–353 substituted by the debtor for for by and treated as for deemed to be.

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.

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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