11-U.S.C.-1226
§1226 – Payments
Pathway
Title 11 > Chapter 12 > Subchapter II > Section 1226
Details
- Reference: Section 1226
- Legend: §1226 – Payments
- USCode Year: 2013
Provision Content
(a) Payments and funds received by the trustee shall be retained by the trustee until confirmation or denial of confirmation of a plan. If a plan is confirmed, the trustee shall distribute any such payment in accordance with the plan. If a plan is not confirmed, the trustee shall return any such payments to the debtor, after deducting—
(1) any unpaid claim allowed under section 503(b) of this title; and
(2) if a standing trustee is serving in the case, the percentage fee fixed for such standing trustee.
(b) Before or at the time of each payment to creditors under the plan, there shall be paid—
(1) any unpaid claim of the kind specified in section 507(a)(2) of this title; and
(2) if a standing trustee appointed under section 1202(c) of this title.
(c) Except as otherwise provided in the plan or in the order confirming the plan, the trustee shall make payments to creditors under the plan.
(Added and amended Pub. L. 99–554, title II, §255, title III, §302(f), Oct. 27, 1986, 100 Stat. 3111, 3124; Pub. L. 103–65, §1, Aug. 6, 1993, 107 Stat. 311; Pub. L. 103–394, title V, §501(d)(36), Oct. 22, 1994, 108 Stat. 4147; Pub. L. 105–277, div. C, title I, §149(a), Oct. 21, 1998, 112 Stat. 2681–610; Pub. L. 106–5, §1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L. 106–70, §1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107–8, §1, May 11, 2001, 115 Stat. 10; Pub. L. 107–17, §1, June 26, 2001, 115 Stat. 151; Pub. L. 107–170, §1, May 7, 2002, 116 Stat. 133; Pub. L. 107–171, title X, §10814(a), May 13, 2002, 116 Stat. 532; Pub. L. 107–377, §2(a), Dec. 19, 2002, 116 Stat. 3115; Pub. L. 108–73, §2(a), Aug. 15, 2003, 117 Stat. 891; Pub. L. 108–369, §2(a), Oct. 25, 2004, 118 Stat. 1749; Pub. L. 109–8, title X, §1001(a)(1), (c), title XV, §1502(a)(9), Apr. 20, 2005, 119 Stat. 185, 186, 217.)
References in Text
Section 1202(c) and (d) of this title, referred to in subsec. (b)(2), was repealed by section 227 of Pub. L. 99–554, and provisions relating to appointment of and fixing percentage fees for standing trustees are contained in section 586(b) and (e) of Title 28, Judiciary and Judicial Procedure, as amended by section 113(b), (c) of Pub. L. 99–554.
Codification
For repeal of section effective Oct. 1, 1998, and subsequent reenactment of section, see note set out preceding section 1201 of this title.
Amendments
2005—Subsec. (b)(1). Pub. L. 109–8, §1502(a)(9), substituted 507(a)(2) for 507(a)(1).
1994—Subsec. (b)(2). Pub. L. 103–394 substituted 1202(c) for 1202(d) and 1202(d) for 1202(e).
Effective Date of 2005 Amendment
Amendment by section 1502(a)(9) of Pub. L. 109–8 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 a note under section 101 of this title.
Effective Date of 1994 Amendment
Amendment by Pub. L. 103–394 effective Oct. 22, 1994, and not applicable with respect to cases commenced under this title before Oct. 22, 1994, see section 702 of Pub. L. 103–394, set out as a note under section 101 of this title.
U.S. Encyclopedia of Law Coverage
11-U.S.C.-1208 in the Legal Encyclopedia: Bankruptcy
In this entry about 11-U.S.C.-1208, 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.-108 in the Legal Encyclopedia: Adjustment of Debts
In this entry about 11-U.S.C.-108, find legal reference material, bibliographies and premiere content related to adjustment of debts in the American Encyclopedia of Law, presenting a comprehensive view of the United States adjustment of debts-specific issues, written by authorities in the field.
Leave a Reply