Las Vegas & Henderson Brankruptcy Attorneys
Call (702) 518-5180
§ 744. Executory contracts
§744. Executory contracts
Code
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 debtor's 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.
Notes
(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,”.
- TITLE 11 - BANKRUPTCY
- CHAPTER 1 - GENERAL PROVISIONS
-
- §101. Definitions
- §102. Rules of construction
- §103. Applicability of chapters
- §104. Adjustment of dollar amounts
- §105. Power of court
- §106. Waiver of sovereign immunity
- §107. Public access to papers
- §108. Extension of time
- §109. Who may be a debtor
- §110. Penalty for persons who negligently or fraudulently prepare bankruptcy petitions
- §111. Nonprofit budget and credit counseling agencies; financial management instructional courses
- §112. Prohibition on disclosure of name of minor children
- CHAPTER 3 - CASE ADMINISTRATION
-
- SUBCHAPTER I - COMMENCEMENT OF A CASE
- SUBCHAPTER II - OFFICERS
-
- §321. Eligibility to serve as trustee
- §322. Qualification of trustee
- §323. Role and capacity of trustee
- §324. Removal of trustee or examiner
- §325. Effect of vacancy
- §326. Limitation on compensation of trustee
- §327. Employment of professional persons
- §328. Limitation on compensation of professional persons
- §329. Debtor's transactions with attorneys
- §330. Compensation of officers
- §331. Interim compensation
- §332. Consumer privacy ombudsman
- §333. Appointment of patient care ombudsman
- SUBCHAPTER III - ADMINISTRATION
-
- § 341. Meetings of creditors and equity security holders
- § 342. Notice
- § 343. Examination of the debtor
- § 344. Self-incrimination; immunity
- § 345. Money of estates
- § 346. Special provisions related to the treatment of State and local taxes
- § 347. Unclaimed property
- § 348. Effect of conversion
- § 349. Effect of dismissal
- § 350. Closing and reopening cases
- § 351. Disposal of patient records
- SUBCHAPTER IV - ADMINISTRATIVE POWERS
- CHAPTER 5 - CREDITORS, THE DEBTOR, AND THE ESTATE
-
- SUBCHAPTER I - CREDITORS AND CLAIMS
-
- § 501. Filing of proofs of claims or interests
- § 502. Allowance of claims or interests
- § 503. Allowance of administrative expenses
- § 504. Sharing of compensation
- § 505. Determination of tax liability
- § 506. Determination of secured status
- § 507. Priorities
- § 508. Effect of distribution other than under this title
- § 509. Claims of codebtors
- § 510. Subordination
- § 511. Rate of interest on tax claims
- SUBCHAPTER II - DEBTORS DUTIES AND BENEFITS
- SUBCHAPTER III - THE ESTATE
-
- § 541. Property of the estate
- § 542. Turnover of property to the estate
- § 543. Turnover of property by a custodian
- § 544. Trustee as lien creditor and as successor to certain creditors and purchasers
- § 545. Statutory liens
- § 546. Limitations on avoiding powers
- § 547. Preferences
- § 548. Fraudulent transfers and obligations
- § 549. Postpetition transactions
- § 550. Liability of transferee of avoided transfer
- § 551. Automatic preservation of avoided transfer
- § 552. Postpetition effect of security interest
- § 553. Setoff
- § 554. Abandonment of property of the estate
- § 555. Contractual right to liquidate, terminate, or accelerate a securities contract
- § 556. Contractual right to liquidate, terminate, or accelerate a commodities contract or forward contract
- § 557. Expedited determination of interests in, and abandonment or other disposition of grain assets
- § 558. Defenses of the estate
- § 559. Contractual right to liquidate, terminate, or accelerate a repurchase agreement
- § 560. Contractual right to liquidate, terminate, or accelerate a swap agreement
- § 561. Contractual right to terminate, liquidate, accelerate, or offset under a master netting agreement and across contracts; proceedings under chapter 15
- § 562. Timing of damage measurement in connection with swap agreements, securities contracts, forward contracts, commodity contracts, repurchase agreements, and master netting agreements
- CHAPTER 7 - LIQUIDATION
-
- SUBCHAPTER I - OFFICERS AND ADMINISTRATION
- SUBCHAPTER II - COLLECTION, LIQUIDATION, AND DISTRIBUTION OF THE ESTATE
- SUBCHAPTER III - STOCKBROKER LIQUIDATION
-
- § 741. Definitions for this subchapter
- § 742. Effect of section 362 of this title in this subchapter
- § 743. Notice
- § 744. Executory contracts
- § 745. Treatment of accounts
- § 746. Extent of customer claims
- § 747. Subordination of certain customer claims
- § 748. Reduction of securities to money
- § 749. Voidable transfers
- § 750. Distribution of securities
- § 751. Customer name securities
- § 752. Customer property
- § 753. Stockbroker liquidation and forward contract merchants, commodity brokers, stockbrokers, financial institutions, financial participants, securities clearing agencies, swap participants, repo participants, and master netting agreement participants
- SUBCHAPTER IV - COMMODITY BROKER LIQUIDATION
-
- § 761. Definitions for this subchapter
- § 762. Notice to the Commission and right to be heard
- § 763. Treatment of accounts
- § 764. Voidable transfers
- § 765. Customer instructions
- § 766. Treatment of customer property
- § 767. Commodity broker liquidation and forward contract merchants, commodity brokers, stockbrokers, financial institutions, financial participants, securities clearing agencies, swap participants, repo participants, and master netting agreement participa
- SUBCHAPTER V - CLEARING BANK LIQUIDATION
- CHAPTER 9 - ADJUSTMENT OF DEBTS OF A MUNICIPALITY
-
- SUBCHAPTER I - GENERAL PROVISIONS
- SUBCHAPTER II - ADMINISTRATION
-
- § 921. Petition and proceedings relating to petition
- § 922. Automatic stay of enforcement of claims against the debtor
- § 923. Notice
- § 924. List of creditors
- § 925. Effect of list of claims
- § 926. Avoiding powers
- § 927. Limitation on recourse
- § 928. Post petition effect of security interest
- § 929. Municipal leases
- § 930. Dismissal
- SUBCHAPTER III - THE PLAN
- CHAPTER 11 - REORGANIZATION
-
- SUBCHAPTER I - OFFICERS AND ADMINISTRATION
-
- § 1101. Definitions for this chapter
- § 1102. Creditors’ and equity security holders’ committees
- § 1103. Powers and duties of committees
- § 1104. Appointment of trustee or examiner
- § 1105. Termination of trustee’s appointment
- § 1106. Duties of trustee and examiner
- § 1107. Rights, powers, and duties of debtor in possession
- § 1108. Authorization to operate business
- § 1109. Right to be heard
- § 1110. Aircraft equipment and vessels
- § 1111. Claims and interests
- § 1112. Conversion or dismissal
- § 1113. Rejection of collective bargaining agreements
- § 1114. Payment of insurance benefits to retired employees
- § 1115. Property of the estate
- § 1116. Duties of trustee or debtor in possession in small business cases
- SUBCHAPTER II - THE PLAN
-
- § 1121. Who may file a plan
- § 1122. Classification of claims or interests
- § 1123. Contents of plan
- § 1124. Impairment of claims or interests
- § 1125. Postpetition disclosure and solicitation
- § 1126. Acceptance of plan
- § 1127. Modification of plan
- § 1128. Confirmation hearing
- § 1129. Confirmation of plan
- SUBCHAPTER III - POSTCONFIRMATION MATTERS
- SUBCHAPTER IV - RAILROAD REORGANIZATION
-
- § 1161. Inapplicability of other sections
- § 1162. Definition
- § 1163. Appointment of trustee
- § 1164. Right to be heard
- § 1165. Protection of the public interest
- § 1166. Effect of subtitle IV of title 49 and of Federal, State, or local regulations
- § 1167. Collective bargaining agreements
- § 1168. Rolling stock equipment
- § 1169. Effect of rejection of lease of railroad line
- § 1170. Abandonment of railroad line
- § 1171. Priority claims
- § 1172. Contents of plan
- § 1173. Confirmation of plan
- § 1174. Liquidation
- CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER OR FISHERMAN WITH REGULAR ANNUAL INCOME
-
- SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE
- SUBCHAPTER II - THE PLAN
-
- § 1221. Filing of plan
- § 1222. Contents of plan
- § 1223. Modification of plan before confirmation
- § 1224. Confirmation hearing
- § 1225. Confirmation of plan
- § 1226. Payments
- § 1227. Effect of confirmation
- § 1228. Discharge
- § 1229. Modification of plan after confirmation
- § 1231. Special tax provisions
- § 1230. Revocation of an order of confirmation
- CHAPTER 13 - ADJUSTMENT OF DEBTS OF AN INDIVIDUAL WITH REGULAR INCOME
-
- SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE
- SUBCHAPTER II - THE PLAN
-
- § 1321. Filing of plan
- § 1322. Contents of plan
- § 1323. Modification of plan before confirmation
- § 1324. Confirmation hearing
- § 1325. Confirmation of plan
- § 1326. Payments
- § 1327. Effect of confirmation
- § 1328. Discharge
- § 1329. Modification of plan after confirmation
- § 1330. Revocation of an order of confirmation
- CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
-
- § 1501. Purpose and scope of application
- SUBCHAPTER I - GENERAL PROVISIONS
- SUBCHAPTER II - ACCESS OF FOREIGN REPRESENTATIVES AND CREDITORS TO THE COURT
-
- § 1509. Right of direct access
- § 1510. Limited jurisdiction
- § 1511. Commencement of case under section 301, 302, or 303
- § 1512. Participation of a foreign representative in a case under this title
- § 1513. Access of foreign creditors to a case under this title
- § 1514. Notification to foreign creditors concerning a case under this title
- SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
-
- § 1515. Application for recognition
- § 1516. Presumptions concerning recognition
- § 1517. Order granting recognition
- § 1518. Subsequent information
- § 1519. Relief that may be granted upon filing petition for recognition
- § 1520. Effects of recognition of a foreign main proceeding
- § 1521. Relief that may be granted upon recognition
- § 1522. Protection of creditors and other interested persons
- § 1523. Actions to avoid acts detrimental to creditors
- § 1524. Intervention by a foreign representative
- SUBCHAPTER IV - COOPERATION WITH FOREIGN COURTS AND FOREIGN REPRESENTATIVES
- SUBCHAPTER V - CONCURRENT PROCEEDINGS
-
- § 1528. Commencement of a case under this title after recognition of a foreign main proceeding
- § 1529. Coordination of a case under this title and a foreign proceeding
- § 1530. Coordination of more than 1 foreign proceeding
- § 1531. Presumption of insolvency based on recognition of a foreign main proceeding
- § 1532. Rule of payment in concurrent proceedings
Address
Law Office of Richards & Associates, LLC
1489 West Warm Springs Road, Suite 110
Henderson, NV 89014
(702) 518-5180
Share Our Site
Disclaimer
Law Office of Richards & Associates, LLC
1489 West Warm Springs Road
Henderson, NV 89014
(702) 518-5180