Notes on 11 U.S.C. § 101 : US Code - Notes

Search Notes on 11 U.S.C. § 101 : US Code - Notes

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2549; Pub. L. 97-222, Sec.
1, July 27, 1982, 96 Stat. 235; Pub. L. 98-353, title III, Secs.
391, 401, 421, July 10, 1984, 98 Stat. 364, 366, 367; Pub. L. 99-
554, title II, Secs. 201, 251, 283(a), Oct. 27, 1986, 100 Stat.
3097, 3104, 3116; Pub. L. 100-506, Sec. 1(a), Oct. 18, 1988, 102
Stat. 2538; Pub. L. 100-597, Sec. 1, Nov. 3, 1988, 102 Stat. 3028;
Pub. L. 101-311, title I, Sec. 101, title II, Sec. 201, June 25,
1990, 104 Stat. 267, 268; Pub. L. 101-647, title XXV, Sec. 2522(e),
Nov. 29, 1990, 104 Stat. 4867; Pub. L. 102-486, title XXX, Sec.
3017(a), Oct. 24, 1992, 106 Stat. 3130; Pub. L. 103-394, title I,
Sec. 106, title II, Secs. 208(a), 215, 217(a), 218(a), title III,
Sec. 304(a), title V, Sec. 501(a), (b)(1), (d)(1), Oct. 22, 1994,
108 Stat. 4111, 4124, 4126-4128, 4132, 4141-4143; Pub. L. 106-554,
Sec. 1(a)(5) [title I, Sec. 112(c)(3), (4)], Dec. 21, 2000, 114
Stat. 2763, 2763A-393, 2763A-394; Pub. L. 109-8, title I, Sec.
102(b), (k), title II, Secs. 211, 226(a), 231(b), title III, Sec.
306(c), title IV, Secs. 401(a), 414, 432(a), title VIII, Sec.
802(b), title IX, Sec. 907(a)(1), (b), (c), title X, Secs. 1004,
1005, 1007(a), title XI, Sec. 1101(a), (b), title XII, Sec. 1201,
Apr. 20, 2005, 119 Stat. 32, 35, 50, 66, 73, 80, 104, 107, 110,
145, 170, 175, 186, 187, 189, 192; Pub. L. 109-390, Sec. 5(a)(1),
Dec. 12, 2006, 120 Stat. 2695.)
HISTORICAL AND REVISION NOTES
LEGISLATIVE STATEMENTS
Section 101(2) defines "affiliate." The House amendment contains
a provision that is a compromise between the definition in the
House-passed version of H.R. 8200 and the Senate amendment in the
nature of a substitute to H.R. 8200. Subparagraphs (A) and (B) are
derived from the Senate amendment and subparagraph (D) is taken
from the House bill, while subparagraph (C) represents a
compromise, taking the House position with respect to a person
whose business is operated under a lease or an operating agreement
by the debtor and with respect to a person substantially all of
whose property is operated under an operating agreement by the
debtor and with respect to a person substantially all of whose
property is operated under an operating agreement by the debtor and
the Senate position on leased property. Thus, the definition of
"affiliate" excludes persons substantially all of whose property is
operated under a lease agreement by a debtor, such as a small
company which owns equipment all of which is leased to a larger
nonrelated company.
Section 101(4)(B) represents a modification of the House-passed
bill to include the definition of "claim" a right to an equitable
remedy for breach of performance if such breach gives rise to a
right to payment. This is intended to cause the liquidation or
estimation of contingent rights of payment for which there may be
an alternative equitable remedy with the result that the equitable
remedy will be susceptible to being discharged in bankruptcy. For
example, in some States, a judgment for specific performance may be
satisfied by an alternative right to payment, in the event
performance is refused; in that event, the creditor entitled to
specific performance would have a "claim" for purposes of a
proceeding under title 11.
On the other hand, rights to an equitable remedy for a breach of
performance with respect to which such breach does not give rise to
a right to payment are not "claims" and would therefore not be
susceptible to discharge in bankruptcy.
In a case under chapter 9 to title 11, "claim" does not include a
right to payment under an industrial development bond issued by a
municipality as a matter of convenience for a third party.
Municipalities are authorized, under section 103(c) of the
Internal Revenue Code of 1954, as amended [title 26], to issue tax-
exempt industrial development revenue bonds to provide for the
financing of certain projects for privately owned companies. The
bonds are sold on the basis of the credit of the company on whose
behalf they are issued, and the principal, interest, and premium,
if any, are payable solely from payments made by the company to the
trustee under the bond indenture and do not constitute claims on
the tax revenues or other funds of the issuing municipalities. The
municipality merely acts as the vehicle to enable the bonds to be
issued on a tax-exempt basis. Claims that arise by virtue of these
bonds are not among the claims defined by this paragraph and
amounts owed by private companies to the holders of industrial
development revenue bonds are not to be included among the assets
of the municipality that would be affected by the plan.
Section 101(6) defines "community claim" as provided by the
Senate amendment in order to indicate that a community claim exists
whether or not there is community property in the estate as of the
commencement of the case.
Section 101(7) of the House amendment contains a definition of
consumer debt identical to the definition in the House bill and
Senate amendment. A consumer debt does not include a debt to any
extent the debt is secured by real property.
Section 101(9) of the Senate amendment contained a definition of
"court." The House amendment deletes the provision as unnecessary
in light of the pervasive jurisdiction of a bankruptcy court under
all chapters of title 11 as indicated in title II of the House
amendment to H.R. 8200.
Section 101(11) defines "debt" to mean liability on a claim, as
was contained in the House-passed version of H.R. 8200. The Senate
amendment contained language indicating that "debt" does not
include a policy loan made by a life insurance company to the
debtor. That language is deleted in the House amendment as
unnecessary since a life insurance company clearly has no right to
have a policy loan repaid by the debtor, although such company does
have a right of offset with respect to such policy loan. Clearly,
then, a "debt" does not include a policy loan made by a life
insurance company. Inclusion of the language contained in the
Senate amendment would have required elaboration of other legal
relationships not arising by a liability on a claim. Further the
language would have required clarification that interest on a
policy loan made by a life insurance company is a debt, and that
the insurance company does have right to payment to that interest.
Section 101(14) adopts the definition of "entity" contained in
the Senate-passed version of H.R. 8200. Since the Senate amendment
to H.R. 8200 deleted the U.S. trustee, a corresponding definitional
change is made in chapter 15 of the House amendment for U.S.
trustees under the pilot program. Adoption by the House amendment
of a pilot program for U.S. trustees under chapter 15 requires
insertion of "United States trustee" in many sections. Several
provisions in chapter 15 of the House amendment that relate to the
U.S. trustee were not contained in the Senate amendment in the
nature of a substitute.
Section 101(17) defines "farmer," as in the Senate amendment with
an income limitation percentage of 80 percent instead of 75
percent.
Section 101(18) contains a new definition of "farming operation"
derived from present law and the definition of "farmer" in the
Senate amendment. This definition gives a broad construction to the
term "farming operation".
Section 101(20) contains a definition of "foreign
representative". It clarifies the House bill and Senate amendment
by indicating that a foreign representative must be duly selected
in a foreign proceeding.
Section 101(35) defines "security" as contained in the Senate
amendment. H.R. 8200 as adopted by the House excluded certain
commercial notes from the definition of "security", and that
exclusion is deleted.
Section 101(40) defines "transfer" as in the Senate amendment.
The definition contained in H.R. 8200 as passed by the House
included "setoff" in the definition of "transfer". Inclusion of
"setoff" is deleted. The effect is that a "setoff" is not subject
to being set aside as a preferential "transfer" but will be subject
to special rules.
SENATE REPORT NO. 95-989
Section 101 of title 11 contains 40 definitions:
Paragraph (1) defines "accountant" as an accountant authorized
under applicable law to practice accounting. The term includes a
professional accounting association, corporation, or partnership if
applicable law authorizes such a unit to practice accounting.
Paragraph (2) defines "affiliate." An affiliate is an entity with
a close relationship to the debtor. It includes a 20 percent parent
or subsidiary of the debtor, whether a corporate, partnership,
individual, or estate parent.
The use of "directly or indirectly" in subparagraphs (A) and (B)
is intended to cover situations in which there is an opportunity to
control, and where the existence of that opportunity operates as
indirect control.
"Affiliate" is defined primarily for use in the definition of
insider, infra, and for use in the chapter 11 reorganization cases.
The definition of "affiliate" does not include an entity acting in
a fiduciary or agency capacity if the entity does not have the sole
discretionary power to vote 20 percent of the voting securities but
hold them solely as security and have not exercised the power to
vote. This restriction applies to a corporate affiliate under
subparagraph (B) of paragraph (2).
Subsections (C) and (D) of paragraph (2) define affiliate also as
those persons and entities whose business or substantially all of
whose property is operated under a lease or operating agreement by
a debtor and whose business or property is more than 50 percent
under the control of the debtor.
The definition of "attorney" in paragraph (3) is similar to the
definition of accountant.
Paragraph (4) defines "claim." The effect of the definition is a
significant departure from present law. Under present law, "claim"
is not defined in straight bankruptcy. Instead it is simply used,
along with the concept of provability in section 63 of the
Bankruptcy Act [section 103 of former title 11], to limit the kinds
of obligations that are payable in a bankruptcy case. The term is
defined in the debtor rehabilitation chapters of present law far
more broadly. The definition in paragraph (4) adopts an even
broader definition of claim than is found in the present debtor
rehabilitation chapters. The definition is any right to payment,
whether or not reduced to judgment, liquidated, unliquidated,
fixed, contingent, matured, unmatured, disputed, undisputed, legal,
equitable, secured, or unsecured. The definition also includes as a
claim an equitable right to performance that does not give rise to
a right to payment. By this broadest possible definition and by the
use of the term throughout the title 11, especially in subchapter I
of chapter 5, the bill contemplates that all legal obligations of
the debtor, no matter how remote or contingent, will be able to be
dealt with in the bankruptcy case. It permits the broadest possible
relief in the bankruptcy court.
Paragraph (5) defines "commodity broker" by reference to various
terms used and defined in subchapter IV of chapter 7, Commodity
Broker Liquidation. The terms are described in connection with
section 761, infra.
Paragraph (6) defines "community claim" for those eight States
that have community property laws. The definition is keyed to the
liability of the debtor's property for a claim against either the
debtor or the debtor's spouse. If the debtor's property is liable
for a claim against either, that claim is a community claim.
Paragraph (7) defines "consumer debt". The definition is adapted
from the definition used in various consumer protection laws. It
encompasses only a debt incurred by an individual primarily for a
personal, family, or household purpose.
The definition of "corporation" in paragraph (8) is similar to
the definition in current law, section 1(8) [section 1(8) of former
title 11]. The term encompasses any association having the power or
privilege that a private corporation, but not an individual or
partnership, has; partnership associations organized under a law
that makes only the capital subscribed responsible for the debts of
the partnership; joint-stock company; unincorporated company or
association; and business trust. "Unincorporated association" is
intended specifically to include a labor union, as well as other
bodies that come under that phrase as used under current law. The
exclusion of limited partnerships is explicit, and not left to the
case law.
Paragraph (9) defines "court" as the bankruptcy judge in the
district in which the case is pending except in municipal
adjustment and railroad reorganization cases, where "court" means
the Federal district judge.
Paragraph (10) [enacted as (9)] defines "creditor" to include
holders of prepetition claims against the debtor. However, it also
encompasses certain holders of claims that are deemed to arise
before the date of the filing of the petition, such as those
injured by the rejection of an executory contract or unexpired
lease, certain investment tax credit recapture claim holders,
"involuntary gap" creditors, and certain holders of the right of
setoff. The term also includes the holder of a prepetition
community claim. A guarantor of or surety for a claim against the
debtor is also a creditor, because he holds a contingent claim
against the debtor that becomes fixed when he pays the creditor
whose claim he has guaranteed or insured.
Paragraph (11) [enacted as (10)] defines "custodian." There is no
similar definition in current law. It is defined to facilitate
drafting, and means a prepetition liquidator of the debtor's
property, such as an assignee for the benefit of creditors, a
receiver of the debtor's property, or administrator of the debtor's
property. The definition of custodian to include a receiver or
trustee is descriptive, and not meant to be limited to court
officers with those titles. The definition is intended to include
other officers of the court if their functions are substantially
similar to those of a receiver or trustee.
"Debt" is defined in paragraph (12) [enacted as (11)] as a
liability on a claim. The terms "debt" and "claim" are coextensive:
a creditor has a "claim" against the debtor; the debtor owes a
"debt" to the creditor. This definition of "debt" and the
definition of "claim" on which it is based, proposed 11 U.S.C.
101(4), does not include a transaction such as a policy loan on an
insurance policy. Under that kind of transaction, the debtor is not
liable to the insurance company for repayment; the amount owed is
merely available to the company for setoff against any benefits
that become payable under the policy. As such, the loan is not a
claim (it is not a right to payment) that the company can assert
against the estate; nor is the debtor's obligation a debt (a
liability on a claim) that will be discharged under proposed 11
U.S.C. 523 or 524.
Paragraph (13) [enacted as (12)] defines "debtor." Debtor means
person or municipality concerning which a case under title II has
been commenced. This is a change in terminology from present law,
which identifies the person by or against whom a petition is filed
in a straight bankruptcy liquidation case as the "bankrupt", and a
person or municipality that is proceeding under a debtor
rehabilitation chapter (chapters VIII through XIII of the
Bankruptcy Act) [chapters 8 through 13 of former title 11] as a
"debtor." The term "debtor" is used for both kinds of cases in this
bill, for ease of reference in chapters 1, 3, and 5 (which apply to
straight bankruptcy and reorganization cases).
Paragraph (14) [enacted as (13)] defines "disinterested person."
The definition is adapted from section 158 of chapter X of current
law [section 558 of former title 11], though it is expanded and
modified in some respects. A person is a disinterested person if
the person is not a creditor, equity security holder, or insider;
is not and was not an investment banker of the debtor for any
outstanding security of the debtor (the change from underwriter in
current law to investment banker is to make the term more
descriptive and to avoid conflict with the definition of
underwriter in section 2(11) of the Securities Act of 1933 (15
U.S.C. 77b(11)); has not been an investment banker for a security
of the debtor within 3 years before the date of the filing of the
petition (the change from five years to three years here conforms
the definition with the statute of limitations in the Securities
Act of 1933) [15 U.S.C. 77m], or an attorney for such an investment
banker; is not an insider of the debtor or of such an investment
banker; and does not have an interest materially adverse to the
estate.
"Entity" is defined, for convenience, in paragraph (15) [enacted
as (14)], to include person, estate, trust, and governmental unit.
It is the most inclusive of the various defined terms relating to
bodies or units.
Paragraph (16) defines "equity security." The term includes a
share or stock in a corporation, a limited partner's interest in a
limited partnership, and a warrant or right to subscribe to an
equity security. The term does not include a security, such as a
convertible debenture, that is convertible into equity security,
but has not been converted.
Paragraph (17) [enacted as (15)] defines "equity security holder"
for convenience as the holder of an equity securing of the debtor.
Paragraph (18) [enacted as (17)] defines "farmer". It encompasses
only those persons for whom farming operations contribute 75
percent or more of their total income.
Paragraphs (19) and (20) define "foreign proceeding" and "foreign
representative". A foreign proceeding is a proceeding in another
country in which the debtor has some substantial connection for the
purpose of liquidating the estate of the debtor or the purpose of
financial rehabilitation of the debtor. A foreign representative is
the representative of the estate in a foreign proceeding, such as a
trustee or administrator.
Paragraph (21) defines "governmental unit" in the broadest sense.
The definition encompasses the United States, a State,
Commonwealth, District, Territory, municipality, or foreign state,
and a department, agency, or instrumentality of any of those
entities. "Department, agency, or instrumentality" does not include
an entity that owes its existence to State action, such as the
granting of a charter or a license but that has no other connection
with a State or local government or the Federal Government. The
relationship must be an active one in which the department, agency,
or instrumentality is actually carrying out some governmental
function.
Paragraph (22) defines "indenture." It is similar to the
definition of indenture in the Trust Indenture Act of 1939 [15
U.S.C. 77ccc(7)]. An indenture is the instrument under which
securities, either debt or equity, of the debtor are outstanding.
Paragraph (23) defines "indenture trustee" as the trustee under
an indenture.
Paragraph (24) defines "individual with regular income." The
effect of this definition, and of its use in section 109(e), is to
expand substantially the kinds of individuals that are eligible for
relief under chapter 13, Adjustment of Debts of an Individual with
Regular Income. Chapter XIII [chapter 13 of former title 11] is now
available only for wage earners. The definition encompasses all
individuals with incomes that are sufficiently stable and regular
to enable them to make payments under a chapter 13 plan. Thus,
individuals on welfare, social security, fixed pension incomes, or
who live on investment incomes, will be able to work out repayment
plans with their creditors rather than being forced into straight
bankruptcy. Also, self-employed individuals will be eligible to use
chapter 13 if they have regular incomes.
However, the definition excludes certain stockbrokers and
commodity brokers, in order to prohibit them from proceeding under
chapter 13 and avoiding the customer protection provisions of
chapter 7.
"Insider", defined in paragraph (25), is a new term. An insider
is one who has a sufficiently close relationship with the debtor
that his conduct is made subject to closer scrutiny than those
dealing at arms length with the debtor. If the debtor is an
individual, then a relative of the debtor, a partnership in which
the debtor is a general partner, a general partner of the debtor,
and a corporation controlled by the debtor are all insiders. If the
debtor is a corporation, then a controlling person, a relative of a
controlling person, a partnership in which the debtor is a general
partner, and a general partner of the debtor are all insiders. If
the debtor is a partnership, then a general partner of or in the
debtor, a relative of a general partner in the debtor, and a person
in control are all insiders. If the debtor is a municipality, then
an elected official of the debtor is an insider. In addition,
affiliates of the debtor and managing agents are insiders.
The definition of "insolvent" in paragraph (26) is adopted from
section 1(19) of current law [section 1(19) of former title 11]. An
entity is insolvent if its debts are greater than its assets, at a
fair valuation, exclusive of property exempted or fraudulently
transferred. It is the traditional bankruptcy balance sheet test of
insolvency. For a partnership, the definition is modified to
account for the liability of a general partner for the
partnership's debts. The difference in this definition from that in
current law is in the exclusion of exempt property for all purposes
in the definition of insolvent.
Paragraph (27) defines "judicial lien." It is one of three kinds
of liens defined in this section. A judicial lien is a lien
obtained by judgment, levy, sequestration, or other legal or
equitable process or proceeding.
Paragraph (28) defines "lien." The definition is new and is very
broad. A lien is defined as a charge against or interest in
property to secure payment of a debt or performance of an
obligation. It includes inchoate liens. In general, the concept of
lien is divided into three kinds of liens: judicial liens, security
interests, and statutory liens. Those three categories are mutually
exclusive and are exhaustive except for certain common law liens.
Paragraph (29) defines "municipality." The definition is adapted
from the terms used in the chapter IX (municipal bankruptcy)
[chapter 9 of former title 11] amendment to the Bankruptcy Act
enacted in 1976 (Pub. L. 94-260). That amendment spoke in terms of
"political subdivision or public agency or instrumentality of a
State". Bankruptcy Act Sec. 84 [section 404 of former title 11].
The term municipality is defined by those three terms for
convenience. It does not include the District of Columbia or any
territories of the United States.
"Person" is defined in paragraph (30). The definition is a change
in wording, but not in substance, from the definition in section
1(23) of the Bankruptcy Act [section 1(23) of former title 11]. The
definition is also similar to the one contained in 1 U.S.C. sec. 1,
but is repeated here for convenience and ease of reference. Person
includes individual partnership, and corporation. The exclusion of
governmental units is made explicit in order to avoid any confusion
that may arise if, for example, a municipality is incorporated and
thus is legally a corporation as well as governmental unit. The
definition does not include an estate or a trust, which are
included only in the definition of "entity" in proposed 11 U.S.C.
101(14).
"Petition" is defined for convenience in paragraph (31). Petition
is a petition under section 301, 302, 303, or 304 of the bankruptcy
code - that is, a petition that commences a case under title 11.
Paragraph (32) defines purchaser as a transferee of a voluntary
transfer, such as a sale or gift, and includes an immediate or
mediate transferee of a purchaser.
The definition of "railroad" in paragraph (33) is derived from
section 77 of the Bankruptcy Act [section 205 of former title 11].
A railroad is a common carrier by railroad engaged in the
transportation of individuals or property, or an owner of trackage
facilities leased by such a common carrier. The effect of the
definition and the use of the term in section 109(d) is to
eliminate the limitation now found in section 77 of the Bankruptcy
Act that only railroads engaged in interstate commerce may proceed
under the railroad reorganization provisions. The limitation may
have been inserted because of a doubt that the commerce power could
not reach intrastate railroads. Be that as it may, this bill is
enacted under the bankruptcy power.
Paragraph (34) defines "relative" as an individual related by
affinity or consanguinity within the third degree as determined by
the common law, and includes individuals in a step or adoptive
relationship. The definition is similar to current law, but adds
the latter phrase. This definition should be applied as of the time
when the transaction that it concerns took place. Thus, a former
spouse is not a relative, but if, for example, for purposes of the
preference section, proposed 11 U.S.C. 547(b)(4)(B), the transferee
was a spouse of the debtor at the time of the transfer sought to be
avoided, then the transferee would be relative and subject to the
insider rules, even if the transferee was no longer married to the
debtor at the time of the commencement of the case or at the time
of the commencement of the preference recovery proceeding.
Paragraph (35) defines "security." The definition is new and is
modeled on the most recent draft of the American Law Institute's
proposed securities code, with some exceptions. The interest of a
limited partner in a limited partnership is included in order to
make sure that everything that is defined as an equity security is
also a "security." The definition, as with the definition of
"entity", "insider", and "person", is open-ended because the term
is not susceptible of precise specification. Thus the courts will
be able to use the characterization provided in this definition to
treat with new kinds of documents on a flexible basis.
Paragraphs (36) and (37) defined "security agreement" and
"security interest." A security interest is one of the kinds of
liens. It is a lien created by an agreement. Security agreement is
defined as the agreement creating the security interest. Though
these terms are similar to the same terms in the Uniform Commercial
Code, article IX, they are broader. For example, the U.C.C. does
not cover real property mortgages. Under this definition, such a
mortgage is included, as are all other liens created by agreement,
even though not covered by the U.C.C. All U.C.C. security interests
and security agreements are, however, security interests and
security agreements under this definition. Whether a consignment or
a lease constitutes a security interest under the bankruptcy code
will depend on whether it constitutes a security interest under
applicable State or local law.
Paragraph (38) defines another kind of lien, "statutory lien."
The definition, derived from current law, states that a statutory
lien is a lien arising solely by force of statute on specified
circumstances or conditions and includes a lien of distress for
rent (whether statutory, common law, or otherwise). The definition
excludes judicial liens and security interests, whether or not they
are provided for or are dependent on a statute, and whether or not
they are made fully effective by statute. A statutory lien is only
one that arises automatically, and is not based on an agreement to
give a lien or on judicial action. Mechanics', materialmen's, and
warehousemen's liens are examples. Tax liens are also included in
the definition of statutory lien.
"Stockbroker" is defined in paragraph (39) as a person engaged in
the business of effecting transactions in securities for the
account of others or with members of the general public from or for
such person's own account, if the person has a customer, as
defined. Thus, the definition, derived from a combination of the
definitions of "broker" and "dealer" in the Securities Exchange Act
of 1934 [15 U.S.C. 78c], encompasses both brokers and dealers. The
definition is used in section 109 and in subchapter III of chapter
7, Stockholder Liquidation. The term does not encompass an employee
who acts for a principal that "effects" transaction or deals with
the public, because such an employee will not have a "customer".
Paragraph (40) defines "transfer." It is derived and adapted,
with stylistic changes, from section 1(30) of the Bankruptcy Act
[section 1(30) of former title 11]. A transfer is a disposition of
an interest in property. The definition of transfer is as broad as
possible. Many of the potentially limiting words in current law are
deleted, and the language is simplified. Under this definition, any
transfer of an interest in property is a transfer, including a
transfer of possession, custody, or control even if there is no
transfer of title, because possession, custody, and control are
interests in property. A deposit in a bank account or similar
account is a transfer.
REFERENCES IN TEXT
The Social Security Act, referred to in par. (10A)(B), is act
Aug. 14, 1935, ch. 531, 49 Stat. 620, as amended, which is
classified generally to chapter 7 (Sec. 301 et seq.) of Title 42,
The Public Health and Welfare. For complete classification of this
Act to the Code, see section 1305 of Title 42 and Tables.
The Internal Revenue Code of 1986, referred to in pars. (12A)(B)
and (41)(C), is classified generally to Title 26, Internal Revenue
Code.
Section 3 of the Federal Deposit Insurance Act, referred to in
pars. (12A)(D), (21B)(A), (33)(A), (35)(A), and (54A), is
classified to section 1813 of Title 12, Banks and Banking.
Sections 101 and 206(r) of the Federal Credit Union Act, referred
to in pars. (12A)(D), (33)(B), and (34), are classified to sections
1752 and 1786(r), respectively, of Title 12, Banks and Banking.
The Investment Company Act of 1940, referred to in par. (22)(B),
is title I of act Aug. 22, 1940, ch. 686, 54 Stat. 789, as amended,
which is classified generally to subchapter I (Sec. 80a-1 et seq.)
of chapter 2D of Title 15, Commerce and Trade. For complete
classification of this Act to the Code, see section 80a-51 of Title
15 and Tables.
Section 402 of the Federal Deposit Insurance Corporation
Improvement Act of 1991, referred to in par. (22A)(B), is
classified to section 4402 of Title 12, Banks and Banking.
Section 304 of this title, referred to in par. (42), was repealed
by Pub. L. 109-8, title VIII, Sec. 802(d)(3), Apr. 20, 2005, 119
Stat. 146.
The Securities Exchange Act of 1934, referred to in pars.
(47)(A)(i), (48), (48A), and (53B)(B), is act June 6, 1934, ch.
404, 48 Stat. 881, as amended, which is classified principally to
chapter 2B (Sec. 78a et seq.) of Title 15, Commerce and Trade.
Sections 3, 6, 15A, and 17A of the Act are classified to sections
78c, 78f, 78o-3 and 78q-1, respectively, of Title 15. For complete
classification of this Act to the Code, see section 78a of Title 15
and Tables.
The Securities Act of 1933, referred to in par. (49)(A)(xii), is
act May 27, 1933, ch. 38, title I, 48 Stat. 74, as amended, which
is classified generally to subchapter I (Sec. 77a et seq.) of
chapter 2A of Title 15, Commerce and Trade. Section 3(b) of the Act
is classified to section 77c(b) of Title 15. For complete
classification of this Act to the Code, see section 77a of Title 15
and Tables.
The Gramm-Leach-Bliley Act, referred to in par. (53B)(B), is Pub.
L. 106-102, Nov. 12, 1999, 113 Stat. 1338, as amended. For complete
classification of this Act to the Code, see Short Title of 1999
Amendment note set out under section 1811 of Title 12, Banks and
Banking, and Tables.
The Legal Certainty for Bank Products Act of 2000, referred to in
par. (53B)(B), is title IV of H.R. 5660, as enacted by Pub. L. 106-
554, Sec. 1(a)(5), Dec. 21, 2000, 114 Stat. 2763, 2763A-457, which
is classified to sections 27 to 27f of Title 7, Agriculture. For
complete classification of this Act to the Code, see Short Title of
2000 Amendment note set out under section 1 of Title 7 and Tables.
The Commodity Exchange Act, referred to in par. (53B)(B), is act
Sept. 21, 1922, ch. 369, 42 Stat. 998, as amended, which is
classified generally to chapter 1 (Sec. 1 et seq.) of Title 7,
Agriculture. For complete classification of this Act to the Code,
see section 1 of Title 7 and Tables.
AMENDMENTS
2006 - Par. (22)(A). Pub. L. 109-390, Sec. 5(a)(1)(A), struck out
"(domestic or foreign)" after "an entity" and inserted "(whether or
not a 'customer', as defined in section 741)" after "custodian for
a customer".
Par. (22A)(A). Pub. L. 109-390, Sec. 5(a)(1)(B), inserted
"(aggregated across counterparties)" after "principal amount
outstanding" and substituted "at such time or on any day during the
15-month period preceding the date of the filing of the petition"
for "on any day during the previous 15-month period" in two places.
Par. (25)(A). Pub. L. 109-390, Sec. 5(a)(1)(C), inserted ", as
defined in section 761" after "commodity contract" and substituted
"repurchase or reverse repurchase transaction (whether or not such
repurchase or reverse repurchase transaction is a 'repurchase
agreement', as defined in this section)" for "repurchase
transaction, reverse repurchase transaction,".
Par. (53B)(A)(i)(II). Pub. L. 109-390, Sec. 5(a)(1)(D)(i)(I),
substituted ", precious metals, or other commodity" for "or
precious metals".
Par. (53B)(A)(i)(VIII). Pub. L. 109-390, Sec. 5(a)(1)(D)(i)(III),
substituted "option, future, or forward agreement" for "weather
derivative, or weather option".
Par. (53B)(A)(i)(IX), (X). Pub. L. 109-390, Sec.
5(a)(1)(D)(i)(II), (IV), added subcls. (IX) and (X).
Par. (53B)(A)(ii). Pub. L. 109-390, Sec. 5(a)(1)(D)(ii), inserted
"or other derivatives" after "dealings in the swap" in subcl. (I)
and substituted "future, option, or spot transaction" for "future,
or option" in subcl. (II).
Par. (53B)(B). Pub. L. 109-390, Sec. 5(a)(1)(E), substituted "the
Gramm-Leach-Bliley Act, the Legal Certainty for Bank Products Act
of 2000, the securities laws (as such term is defined in section
3(a)(47) of the Securities Exchange Act of 1934) and the Commodity
Exchange Act" for "the Securities Act of 1933, the Securities
Exchange Act of 1934, the Public Utility Holding Company Act of
1935, the Trust Indenture Act of 1939, the Investment Company Act
of 1940, the Investment Advisers Act of 1940, the Securities
Investor Protection Act of 1970, the Commodity Exchange Act, the
Gramm-Leach-Bliley Act, and the Legal Certainty for Bank Products
Act of 2000".
2005 - Pub. L. 109-8, Sec. 1201(1), substituted "In this title
the following definitions shall apply:" for "In this title - " in
introductory provisions.
Pars. (1), (2). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The
term" after par. designation and substituted a period for semicolon
at end.
Par. (3). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 226(a)(1), added par. (3).
Par. (4). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Par. (4A). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 226(a)(2), added par. (4A).
Pars. (5) to (7). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The
term" after par. designation and substituted a period for semicolon
at end.
Pars. (7A), (7B). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The
term" after par. designation and substituted a period for semicolon
at end.
Pub. L. 109-8, Sec. 1007(a)(1), added pars. (7A) and (7B).
Pars. (8) to (10). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Par. (10A). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 102(b), added par. (10A).
Pars. (11), (12). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The
term" after par. designation and substituted a period for semicolon
at end.
Par. (12A). Pub. L. 109-8, Sec. 1201(8), which directed the
substitution of a period for a semicolon at end, could not be
executed because par. (12A) ended in a period after amendment by
Pub. L. 109-8, Sec. 226(a)(3). See below.
Pub. L. 109-8, Sec. 1201(2), inserted "The term" after par.
designation.
Pub. L. 109-8, Secs. 211(1), 226(a)(3), added par. (12A) and
struck out former par. (12A) which read as follows: " 'debt for
child support' means a debt of a kind specified in section
523(a)(5) of this title for maintenance or support of a child of
the debtor;".
Par. (13). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Par. (13A). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 306(c)(1), added par. (13A).
Par. (14). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 414, amended par. (14) generally. Prior to
amendment, par. (14) consisted of subpars. (A) to (E) defining
"disinterested person".
Par. (14A). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 211(2), added par. (14A).
Pars. (15) to (17). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Par. (18). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Par. (18)(A). Pub. L. 109-8, Sec. 1005, substituted "for -
"(i) the taxable year preceding; or
"(ii) each of the 2d and 3d taxable years preceding;
the taxable year" for "for the taxable year preceding the taxable
year".
Pub. L. 109-8, Sec. 1004(1), substituted "$3,237,000" for
"$1,500,000" and "not less than 50 percent" for "not less than 80
percent".
Par. (18)(B)(ii). Pub. L. 109-8, Sec. 1004(2), substituted
"$3,237,000" for "$1,500,000" and "50 percent" for "80 percent".
Par. (19). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pars. (19A), (19B). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Pub. L. 109-8, Sec. 1007(a)(2), added pars. (19A) and (19B).
Pars. (20) to (21B). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Par. (22). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 907(b)(1), added par. (22) and struck out
former par. (22) which consisted of introductory provisions and
subpars. (A) and (B) defining "financial institution".
Par. (22A). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 907(b)(2), added par. (22A).
Pars. (23), (24). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The
term" after par. designation and substituted a period for semicolon
at end.
Pub. L. 109-8, Sec. 802(b), added pars. (23) and (24) and struck
out former pars. (23) and (24) which read as follows:
"(23) 'foreign proceeding' means proceeding, whether judicial or
administrative and whether or not under bankruptcy law, in a
foreign country in which the debtor's domicile, residence,
principal place of business, or principal assets were located at
the commencement of such proceeding, for the purpose of liquidating
an estate, adjusting debts by composition, extension, or discharge,
or effecting a reorganization;
"(24) 'foreign representative' means duly selected trustee,
administrator, or other representative of an estate in a foreign
proceeding;".
Par. (25). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 907(a)(1)(A), substituted "means - " for
"means", designated subsequent provisions as subpar. (A),
substituted ", or any other similar agreement" for ", or any
combination thereof or option thereon", and added subpars. (B) to
(E).
Par. (26). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 907(b)(3), added par. (26) and struck out
former par. (26) which read as follows: " 'forward contract
merchant' means a person whose business consists in whole or in
part of entering into forward contracts as or with merchants in a
commodity, as defined in section 761(8) of this title, or any
similar good, article, service, right, or interest which is
presently or in the future becomes the subject of dealing in the
forward contract trade;".
Par. (27). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Par. (27A). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 1101(a)(2), added par. (27A). Former par.
(27A) redesignated (27B).
Pub. L. 109-8, Sec. 306(c)(2), added par. (27A).
Par. (27B). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 1101(a)(1), redesignated par. (27A) as (27B).
Pars. (28) to (34). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Par. (35). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Par. (35)(B). Pub. L. 109-8, Sec. 1201(3), substituted
"paragraphs (23) and (35)" for "paragraphs (21B) and (33)(A)".
Par. (35A). Pub. L. 109-8, Sec. 1201(2), (4), inserted "The term"
after par. designation and substituted a period for "; and" at end.
Pars. (36), (37). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The
term" after par. designation and substituted a period for semicolon
at end.
Par. (38). Pub. L. 109-8, Sec. 1201(2), (4), inserted "The term"
after par. designation and substituted a period for "; and" at end.
Pars. (38A), (38B). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Pub. L. 109-8, Sec. 907(c), added pars. (38A) and (38B).
Par. (39). Pub. L. 109-8, Sec. 1201(2), inserted "The term" after
par. designation.
Par. (39A). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 102(k), added par. (39A).
Par. (40). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pars. (40A), (40B). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Pub. L. 109-8, Sec. 1101(b), added pars. (40A) and (40B).
Par. (41). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Par. (41A). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 231(b), added par. (41A).
Pars. (42) to (45). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Par. (46). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 907(a)(1)(B), substituted "at any time
before" for "on any day during the period beginning 90 days before
the date of".
Par. (47). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 907(a)(1)(C), amended par. (47) generally.
Prior to amendment, par. (47) read as follows: " 'repurchase
agreement' (which definition also applies to a reverse repurchase
agreement) means an agreement, including related terms, which
provides for the transfer of certificates of deposit, eligible
bankers' acceptances, or securities that are direct obligations of,
or that are fully guaranteed as to principal and interest by, the
United States or any agency of the United States against the
transfer of funds by the transferee of such certificates of
deposit, eligible bankers' acceptances, or securities with a
simultaneous agreement by such transferee to transfer to the
transferor thereof certificates of deposit, eligible bankers'
acceptances, or securities as described above, at a date certain
not later than one year after such transfers or on demand, against
the transfer of funds;".
Par. (48). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 907(a)(1)(D), inserted ", or exempt from such
registration under such section pursuant to an order of the
Securities and Exchange Commission," after "1934".
Par. (48A). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 401(a), added par. (48A).
Pars. (49) to (51A). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Par. (51B). Pub. L. 109-8, Sec. 1201(2), (5), (8), inserted "The
term" after par. designation and "who is not a family farmer" after
"income of a debtor" and substituted a period for "thereto having
aggregate noncontingent, liquidated secured debts in an amount no
more than $4,000,000;".
Pars. (51C), (51D). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Pub. L. 109-8, Sec. 432(a), added pars. (51C) and (51D) and
struck out former par. (51C) which read as follows: " 'small
business' means a person engaged in commercial or business
activities (but does not include a person whose primary activity is
the business of owning or operating real property and activities
incidental thereto) whose aggregate noncontingent liquidated
secured and unsecured debts as of the date of the petition do not
exceed $2,000,000;".
Pars. (52) to (53A). Pub. L. 109-8, Sec. 1201(2), (8), inserted
"The term" after par. designation and substituted a period for
semicolon at end.
Par. (53B). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Pub. L. 109-8, Sec. 907(a)(1)(E), amended par. (53B) generally.
Prior to amendment, par. (53B) consisted of introductory provisions
and subpars. (A) to (C) defining "swap agreement".
Par. (53C). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Par. (53D). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Par. (54). Pub. L. 109-8, Sec. 1201(8), substituted a period for
semicolon at end.
Pub. L. 109-8, Sec. 1201(6), added par. (54) and struck out
former par. (54) which read as follows: "The term 'transfer' means
every mode, direct or indirect, absolute or conditional, voluntary
or involuntary, of disposing of or parting with property or with an
interest in property, including retention of title as a security
interest and foreclosure of the debtor's equity of redemption;".
Pub. L. 109-8, Sec. 1201(2), inserted "The term" after par.
designation.
Par. (54A). Pub. L. 109-8, Sec. 1201(8), which directed the
substitution of a period for semicolon at end, could not be
executed because par. (54A) ended in a period after amendment by
Pub. L. 109-8, Sec. 1201(4). See below.
Pub. L. 109-8, Sec. 1201(4), (7), substituted "The term" for "the
term", realigned left margin, and substituted a period for "; and"
at end.
Par. (55). Pub. L. 109-8, Sec. 1201(2), (8), inserted "The term"
after par. designation and substituted a period for semicolon at
end.
Par. (56A). Pub. L. 109-8, Sec. 1201(8), which directed the
substitution of a period for semicolon "in each of paragraphs (40)
through (55)" at end, was executed to par. (56A), to reflect the
probable intent of Congress, because par. (56A) follows par. (53C)
in text.
Pub. L. 109-8, Sec. 1201(2), inserted "The term" after par.
designation.
2000 - Par. (22). Pub. L. 106-554, Sec. 1(a)(5) [title I, Sec.
112(c)(3)], amended par. (22) generally. Prior to amendment par.
(22) read as follows: " 'financial institution' means a person that
is a commercial or savings bank, industrial savings bank, savings
and loan association, or trust company and, when any such person is
acting as agent or custodian for a customer in connection with a
securities contract, as defined in section 741 of this title, such
customer;".
Par. (54A). Pub. L. 106-554, Sec. 1(a)(5) [title I, Sec.
112(c)(4)], added par. (54A).
1994 - Par. (3). Pub. L. 103-394, Sec. 501(a)(1), redesignated
par. (3) as (21B) and inserted it after par. (21A).
Par. (6). Pub. L. 103-394, Sec. 501(b)(1)(A), substituted
"section 761" for "section 761(9)" after "customer, as defined in".
Par. (12A). Pub. L. 103-394, Sec. 304(a), added par. (12A).
Par. (21B). Pub. L. 103-394, Sec. 501(a)(1), redesignated par.
(3) as (21B).
Par. (22). Pub. L. 103-394, Sec. 501(b)(1)(B), substituted
"section 741" for "section 741(7)".
Par. (33)(A). Pub. L. 103-394, Sec. 501(d)(1)(A)(i), struck out
"(12 U.S.C. 1813(u))" after "section 3(u) of the Federal Deposit
Insurance Act".
Par. (33)(B). Pub. L. 103-394, Sec. 501(d)(1)(A)(ii), struck out
"(12 U.S.C. 1786(r))" after "Act".
Par. (34). Pub. L. 103-394, Sec. 501(d)(1)(B), struck out "(12
U.S.C. 1752(7))" after "Act".
Par. (35). Pub. L. 103-394, Sec. 501(b)(1)(C), (d)(1)(C), struck
out "(12 U.S.C. 1813(c)(2))" after "Act" in subpar. (A) and
substituted "paragraphs (21B)" for "paragraphs (3)" in subpar. (B).
Par. (35A). Pub. L. 103-394, Sec. 501(a)(4), redesignated par.
(56) defining "intellectual property" as (35A) and inserted it
after par. (35).
Par. (39). Pub. L. 103-394, Sec. 501(a)(5), redesignated par.
(57) defining "mask work" as (39) and inserted it after par. (38).
Former par. (39) redesignated (51A).
Par. (41). Pub. L. 103-394, Sec. 106, amended par. (41)
generally. Prior to amendment, par. (41) read as follows: "
'person' includes individual, partnership, and corporation, but
does not include governmental unit, Provided, however, That any
governmental unit that acquires an asset from a person as a result
of operation of a loan guarantee agreement, or as receiver or
liquidating agent of a person, will be considered a person for
purposes of section 1102 of this title."
Par. (42A). Pub. L. 103-394, Sec. 208(a)(1), added par. (42A).
Par. (48). Pub. L. 103-394, Sec. 501(d)(1)(D), struck out "(15
U.S.C. 78q-1)" after "Act of 1934" and "(15 U.S.C. 78c(12))" after
"such Act".
Par. (49)(A)(xii). Pub. L. 103-394, Sec. 501(d)(1)(E)(i), struck
out "(15 U.S.C. 77a et seq.)" after "Act of 1933" and "(15 U.S.C.
77c(b))" after "such Act".
Par. (49)(B). Pub. L. 103-394, Sec. 501(b)(1)(D), (d)(1)(E)(ii),
substituted "section 761" for "section 761(13)" in cl. (ii) and
struck out "(15 U.S.C. 77c(b))" after "Act of 1933" in cl. (vi).
Par. (51A). Pub. L. 103-394, Sec. 501(a)(2), redesignated par.
(39) as (51A) and inserted it after par. (51).
Par. (51B). Pub. L. 103-394, Sec. 218(a), added par. (51B).
Par. (51C). Pub. L. 103-394, Sec. 217(a), added par. (51C).
Par. (53A). Pub. L. 103-394, Sec. 501(a)(3), (b)(1)(E),
redesignated par. (54) defining "stockbroker" as (53A) and
substituted "section 741" for "section 741(2)" in subpar. (A).
Par. (53B). Pub. L. 103-394, Sec. 501(a)(3), redesignated par.
(55) defining "swap agreement" as (53B).
Par. (53C). Pub. L. 103-394, Sec. 501(a)(3), redesignated par.
(56) defining "swap participant" as (53C).
Par. (53D). Pub. L. 103-394, Sec. 501(a)(3), (d)(1)(F),
redesignated par. (57) defining "timeshare plan" as (53D) and
substituted semicolon for period at end.
Par. (54). Pub. L. 103-394, Sec. 501(a)(3), redesignated par.
(54) defining "stockbroker" as (53A).
Par. (55). Pub. L. 103-394, Sec. 501(a)(3), redesignated par.
(55) defining "swap agreement" as (53B).
Pub. L. 103-394, Sec. 215, inserted "spot foreign exchange
agreement," after "forward foreign exchange agreement,".
Par. (56). Pub. L. 103-394, Sec. 501(a)(3), redesignated par.
(56) defining "swap participant" as (53C).
Pub. L. 103-394, Sec. 501(a)(4), redesignated par. (56) defining
"intellectual property" as (35A) and inserted it after par. (35).
Par. (56A). Pub. L. 103-394, Sec. 208(a)(2), added par. (56A) and
inserted it after par. defining "swap participant".
Par. (57). Pub. L. 103-394, Sec. 501(a)(3), redesignated par.
(57) defining "timeshare plan" as (53D).
Pub. L. 103-394, Sec. 501(a)(5), redesignated par. (57) defining
"mask work" as (39) and inserted it after par. (38).
1992 - Par. (21A). Pub. L. 102-486 added par. (21A).
1990 - Par. (3). Pub. L. 101-647, Sec. 2522(e)(4), added par.
(3). Former par. (3) redesignated (4).
Pars. (4) to (23). Pub. L. 101-647, Sec. 2522(e)(3), redesignated
pars. (3) to (22) as (4) to (23), respectively. Former par. (23)
redesignated (24).
Par. (24). Pub. L. 101-647, Sec. 2522(e)(3), redesignated par.
(23) as (24). Former par. (24) redesignated (25).
Pub. L. 101-311, Sec. 201(1), inserted "as defined in section
761(8) of this title, or any similar good, article, service, right,
or interest which is presently or in the future becomes the subject
of dealing in the forward contract trade," after "transfer of
commodity," and ", including, but not limited to, a repurchase
transaction, reverse repurchase transaction, consignment, lease,
swap, hedge transaction, deposit, loan, option, allocated
transaction, unallocated transaction, or any combination thereof or
option thereon" after "entered into".
Par. (25). Pub. L. 101-647, Sec. 2522(e)(3), redesignated par.
(24) as (25). Former par. (25) redesignated (26).
Pub. L. 101-311, Sec. 201(2), substituted "a commodity, as
defined in section 761(8) of this title, or any similar good,
article, service, right, or interest which is presently or in the
future becomes the subject of dealing in the forward contract
trade" for "commodities".
Pars. (26) to (32). Pub. L. 101-647, Sec. 2522(e)(3),
redesignated pars. (25) to (31) as (26) to (32), respectively.
Former par. (32) redesignated (36).
Par. (33). Pub. L. 101-647, Sec. 2522(e)(2), added par. (33).
Former par. (33) redesignated (37).
Par. (34). Pub. L. 101-647, Sec. 2522(e)(2), added par. (34).
Former par. (34) redesignated (38).
Pub. L. 101-311, Sec. 201(4), added par. (34). Former par. (34)
redesignated (36).
Par. (35). Pub. L. 101-647, Sec. 2522(e)(2), added par. (35).
Former par. (35) redesignated (39).
Pub. L. 101-311, Sec. 201(4), added par. (35). Former par. (35)
redesignated (37).
Par. (36). Pub. L. 101-647, Sec. 2522(e)(1), redesignated par.
(32) as (36). Former par. (36) redesignated (40).
Pub. L. 101-311, Sec. 201(3), redesignated par. (34) as (36).
Former par. (36) redesignated (38).
Pars. (37) to (48). Pub. L. 101-647, Sec. 2522(e)(1),
redesignated pars. (33) to (44) as (37) to (48), respectively.
Former pars. (45) to (48) redesignated (49) to (52), respectively.
Pub. L. 101-311, Sec. 201(3), redesignated pars. (35) to (46) as
(37) to (48), respectively. Former pars. (47) and (48) redesignated
(49) and (50), respectively.
Pars. (49), (50). Pub. L. 101-647, Sec. 2522(e)(1), redesignated
pars. (45) and (46) as (49) and (50), respectively. Former pars.
(49) and (50) redesignated (53) and (54) defining "stockbroker",
respectively.
Pub. L. 101-311, Sec. 201(3), redesignated pars. (47) and (48) as
(49) and (50), respectively. Former pars. (49) and (50)
redesignated (51) and (52), respectively.
Pub. L. 101-311, Sec. 101(2), added pars. (49) and (50). Former
pars. (49) and (50) redesignated (51) and (52), respectively.
Par. (51). Pub. L. 101-647, Sec. 2522(e)(1), redesignated par.
(47) as (51). Former par. (51) redesignated (55) defining "swap
agreement".
Pub. L. 101-311, Sec. 201(3), redesignated par. (49) as (51).
Former par. (51) redesignated (53).
Pub. L. 101-311, Sec. 101(1), redesignated par. (49) as (51).
Former par. (51) redesignated (53).
Par. (52). Pub. L. 101-647, Sec. 2522(e)(1), redesignated par.
(48) as (52). Former par. (52) redesignated (56) defining "swap
participant".
Pub. L. 101-311, Sec. 201(3), redesignated par. (50) as (52).
Former par. (52) redesignated (54) defining "transfer".
Pub. L. 101-311, Sec. 101(1), redesignated par. (50) as (52).
Former par. (52) redesignated (54).
Par. (53). Pub. L. 101-647, Sec. 2522(e)(1), redesignated par.
(49) as (53). Former par. (53) redesignated (57) defining
"timeshare plan".
Pub. L. 101-311, Sec. 201(3), redesignated par. (51) as (53).
Former par. (53) redesignated (55) defining "United States".
Pub. L. 101-311, Sec. 101(1), redesignated par. (51) as (53).
Former par. (53) redesignated (55).
Par. (54). Pub. L. 101-647, Sec. 2522(e)(1), redesignated par.
(50) as (54) defining "stockbroker".
Pub. L. 101-311, Sec. 201(3), redesignated par. (52) as (54)
defining "transfer". Former par. (54) redesignated (56) defining
"intellectual property".
Pub. L. 101-311, Sec. 101(1), redesignated par. (52) as (54).
Par. (55). Pub. L. 101-647, Sec. 2522(e)(1), redesignated par.
(51) as (55) defining "swap agreement".
Pub. L. 101-311, Sec. 201(3), redesignated par. (53) as (55)
defining "United States". Former par. (55) redesignated (57)
defining "mask work".
Pub. L. 101-311, Sec. 101(1), redesignated par. (53) as (55).
Par. (56). Pub. L. 101-647, Sec. 2522(e)(1), redesignated par.
(52) as (56) defining "swap participant".
Pub. L. 101-311, Sec. 201(3), redesignated par. (54) as (56)
defining "intellectual property".
Par. (57). Pub. L. 101-647, Sec. 2522(e)(1), redesignated par.
(53) as (57) defining "timeshare plan".
Pub. L. 101-311, Sec. 201(3), redesignated par. (55) as (57)
defining "mask work".
1988 - Par. (31). Pub. L. 100-597 inserted "and a municipality"
after "partnership" in subpar. (A) and added subpar. (C).
Pars. (52), (53). Pub. L. 100-506 added pars. (52) and (53).
1986 - Par. (14). Pub. L. 99-554, Sec. 201(1), substituted
"governmental unit, and United States trustee" for "and
governmental unit".
Pars. (17), (18). Pub. L. 99-554, Sec. 251(2), (3), added pars.
(17) and (18) and redesignated former pars. (17) and (18) as (19)
and (20), respectively.
Par. (19). Pub. L. 99-554, Sec. 251(1), (2), redesignated former
par. (17) as (19) and inserted "(except when such term appears in
the term 'family farmer')". Former par. (19) redesignated (21).
Pars. (20) to (25). Pub. L. 99-554, Sec. 251(2), redesignated
former pars. (18) to (23) as (20) to (25), respectively. Former
pars. (24) and (25) redesignated (26) and (27), respectively.
Par. (26). Pub. L. 99-554, Sec. 201(2), inserted "(but not a
United States trustee while serving as a trustee in a case under
this title)".
Pub. L. 99-554, Sec. 251(2), redesignated former par. (24) as
(26). Former par. (26) redesignated (28).
Pars. (27) to (42). Pub. L. 99-554, Sec. 251(2), redesignated
former pars. (25) to (40) as (27) to (42), respectively. Former
pars. (41) and (42) redesignated (43) and (44), respectively.
Par. (43). Pub. L. 99-554, Sec. 251(2), redesignated former par.
(41) as (43). Former par. (43) redesignated (45).
Par. (43)(A)(xv). Pub. L. 99-554, Sec. 283(a)(1), substituted
"security" for "secuity".
Pars. (44) to (50). Pub. L. 99-554, Sec. 251(2), redesignated
former pars. (42) to (48) as (44) to (50), respectively. Former
par. (49) redesignated (51).
Par. (51). Pub. L. 99-554, Sec. 283(a)(2), substituted a period
for the semicolon at the end thereof.
Pub. L. 99-554, Sec. 251(2), redesignated former par. (49) as
(51).
1984 - Par. (2)(D). Pub. L. 98-353, Sec. 421(a), struck out "or
all" after "business".
Par. (8)(B). Pub. L. 98-353, Sec. 421(b), substituted a semicolon
for the colon at end of subpar. (B).
Par. (9)(B). Pub. L. 98-353, Sec. 421(c), inserted reference to
section 348(d).
Par. (14). Pub. L. 98-353, Sec. 421(d), inserted "and" after
"trust,".
Pars. (19) to (21). Pub. L. 98-353, Sec. 421(j)(3), (4), added
par. (19) and redesignated former pars. (19), (20), and (21) as
(20), (21), and (24), respectively.
Pars. (22), (23). Pub. L. 98-353, Sec. 421(j)(2), (5), added
pars. (22) and (23) and redesignated former pars. (22) and (23) as
(25) and (26), respectively.
Pars. (24) to (26). Pub. L. 98-353, Sec. 421(j)(2), redesignated
former pars. (21) to (23) as (24) to (26), respectively. Former
pars. (24) to (26) redesignated (27) to (29), respectively.
Par. (27). Pub. L. 98-353, Sec. 421(e), (j)(2), redesignated
former par. (24) as (27) and substituted "stockbroker" for "stock
broker". Former par. (27) redesignated (30).
Par. (28). Pub. L. 98-353, Sec. 421(j)(2), redesignated former
par. (25) as (28). Former par. (28) redesignated (31).
Par. (29). Pub. L. 98-353, Sec. 421(f), (j)(2), redesignated
former par. (26) as (29) and, in subpar. (B)(ii), substituted
"nonpartnership" and "(A)" for "separate" and "(A)(ii)",
respectively, wherever appearing. Former par. (29) redesignated
(32).
Pars. (30) to (32). Pub. L. 98-353, Sec. 421(j)(2), redesignated
former pars. (27) to (29) as (30) to (32), respectively. Former
pars. (30) to (32) redesignated (33) to (35), respectively.
Par. (33). Pub. L. 98-353, Sec. 421(g), (j)(2), redesignated
former par. (30) as (33) and amended definition of "person"
generally, thereby inserting proviso relating to consideration of
certain governmental units as persons for purposes of section 1102
of this title. Former par. (33) redesignated (36).
Par. (34). Pub. L. 98-353, Sec. 421(j)(2), redesignated former
par. (31) as (34). Former par. (34) redesignated (37).
Pars. (35), (36). Pub. L. 98-353, Sec. 421(j)(2), redesignated
former pars. (32) and (33) as (35) and (36), respectively. Former
pars. (35) and (36), as added by Pub. L. 98-353, Sec. 391(2),
redesignated (38) and (39), respectively.
Pub. L. 98-353, Sec. 391, added pars. (35) and (36), and
redesignated former pars. (35) and (36) as (37) and (38) which were
again redesignated as (40) and (41), respectively.
Par. (37). Pub. L. 98-353, Sec. 421(j)(2), redesignated former
par. (34) as (37). Former par. (37) redesignated successively as
(39) and again as (42).
Par. (38). Pub. L. 98-353, Secs. 391(2), 421(j)(2), added par.
(35) and redesignated such par. (35) as (38). Former par. (38)
redesignated successively as (40) and again as (43).
Par. (39). Pub. L. 98-353, Secs. 391(2), 421(j)(2), added par.
(36) and redesignated such par. (36) as (39). Former par. (39)
redesignated successively as (41) and again as (45).
Par. (40). Pub. L. 98-353, Secs. 391(1), 421(j)(2), redesignated
successively former par. (35) as (37) and again as (40). Former
par. (40) redesignated successively as (42) and again as (46).
Par. (41). Pub. L. 98-353, Secs. 391(1), 401(1), 421(h), (j)(2),
redesignated successively former par. (36) as (38) and again as
(41), and, in subpar. (B)(vi), substituted "certificate of a kind
specified in subparagraph (A)(xii)" for "certificate specified in
clause (xii) of subparagraph (A)" and substituted "required to be
the subject of a registration statement" for "the subject of such
registration statement". Former par. (41) redesignated successively
as (43), again as (44), and again as (48).
Par. (42). Pub. L. 98-353, Secs. 391(1), 421(j)(2), redesignated
successively former par. (37) as (39) and again as (42).
Par. (43). Pub. L. 98-353, Secs. 391(1), 421(j)(2), redesignated
successively former par. (38) as (40) and again as (43).
Pub. L. 98-353, Sec. 401, redesignated former par. (43),
originally par. (41), as (44), and added another par. (43) which
was redesignated (47).
Par. (44). Pub. L. 98-353, Sec. 421(j)(6), added par. (44).
Former par. (44) originally was par. (41) and was redesignated
successively as (43), again as (44), and again as (48).
Pars. (45), (46). Pub. L. 98-353, Secs. 391(1), 421(j)(1),
redesignated successively former pars. (39) and (40) as (41) and
(42), and again as (45) and (46), respectively.
Par. (47). Pub. L. 98-353, Secs. 401(2), 421(j)(1), added par.
(43) and redesignated such par. (43) as (47).
Par. (48). Pub. L. 98-353, Secs. 391(1), 401(1), 421(i), (j)(1),
redesignated successively former par. (41) as (43), again as (44),
and again as (48), and substituted "and foreclosure of the debtor's
equity of redemption; and" for the period at the end.
Par. (49). Pub. L. 98-353, Sec. 421(j)(7), added par. (49).
1982 - Par. (35). Pub. L. 97-222, Sec. 1(a)(2), added par. (35).
Former par. (35) redesignated (36).
Par. (36). Pub. L. 97-222, Sec. 1(a)(1), (b), (c), redesignated
par. (35) as (36) and substituted "is required to be the subject of
a registration statement" for "is the subject of a registration
statement" in subpar. (A)(xii) and substituted "forward contract"
for "forward commodity contract" in subpar. (B)(iii). Former par.
(36) redesignated (37).
Pars. (37) to (39). Pub. L. 97-222, Sec. 1(a)(1), redesignated
pars. (36) to (38) as (37) to (39), respectively. Former par. (39)
redesignated (40).
Pars. (40), (41). Pub. L. 97-222, Sec. 1(a)(1), (d), redesignated
former par. (39) as (40) and restructured its provisions by
dividing the former introductory provisions into subpars. (A) and
(B) and by redesignating former subpars. (A) and (B) as cls. (i)
and (ii), respectively, of subpar. (B). Former par. (40)
redesignated (41).
EFFECTIVE DATE OF 2006 AMENDMENT
Pub. L. 109-390, Sec. 7, Dec. 12, 2006, 120 Stat. 2700, provided
that: "The amendments made by this Act [see Short Title of 2006
Amendment note set out under this section] shall not apply to any
cases commenced under title 11, United States Code, or appointments
made under any Federal or State law, before the date of the
enactment of this Act [Dec. 12, 2006]."
EFFECTIVE DATE OF 2005 AMENDMENT
Pub. L. 109-8, title XV, Sec. 1501, Apr. 20, 2005, 119 Stat. 216,
provided that:
"(a) Effective Date. - Except as otherwise provided in this Act,
this Act [see Tables for classification] and the amendments made by
this Act shall take effect 180 days after the date of enactment of
this Act [Apr. 20, 2005].
"(b) Application of Amendments. -
"(1) In general. - Except as otherwise provided in this Act and
paragraph (2), the amendments made by this Act shall not apply
with respect to cases commenced under title 11, United States
Code, before the effective date of this Act.
"(2) Certain limitations applicable to debtors. - The
amendments made by sections 308, 322, and 330 [amending sections
104, 522, 727, 1141, 1228, and 1328 of this title] shall apply
with respect to cases commenced under title 11, United States
Code, on or after the date of the enactment of this Act [Apr. 20,
2005]."
EFFECTIVE DATE OF 1994 AMENDMENT
Section 702 of Pub. L. 103-394 provided that:
"(a) Effective Date. - Except as provided in subsection (b), this
Act [see Tables for classification] shall take effect on the date
of the enactment of this Act [Oct. 22, 1994].
"(b) Application of Amendments. - (1) Except as provided in
paragraph (2), the amendments made by this Act shall not apply with
respect to cases commenced under title 11 of the United States Code
before the date of the enactment of this Act.
"(2)(A) Paragraph (1) shall not apply with respect to the
amendment made by section 111 [amending section 524 of this title].
"(B) The amendments made by sections 113 and 117 [amending
sections 106 and 330 of this title] shall apply with respect to
cases commenced under title 11 of the United States Code before,
on, and after the date of the enactment of this Act.
"(C) Section 1110 of title 11, United States Code, as amended by
section 201 of this Act, shall apply with respect to any lease, as
defined in such section 1110(c) as so amended, entered into in
connection with a settlement of any proceeding in any case pending
under title 11 of the United States Code on the date of the
enactment of this Act.
"(D) The amendments made by section 305 [amending sections 1123,
1222, and 1322 of this title] shall apply only to agreements
entered into after the date of enactment of this Act."
EFFECTIVE DATE OF 1992 AMENDMENT
Section 3017(c) of Pub. L. 102-486 provided that:
"(1) Except as provided in paragraph (2), the amendments made by
this section [amending this section and section 541 of this title]
shall take effect on the date of the enactment of this Act [Oct.
24, 1992].
"(2) The amendments made by this section shall not apply with
respect to cases commenced under title 11 of the United States Code
before the date of the enactment of this Act."
EFFECTIVE DATE OF 1988 AMENDMENTS
Section 12 of Pub. L. 100-597 provided that:
"(a) Effective Date. - Except as provided in subsection (b), this
Act and the amendments made by this Act [enacting sections 927 to
929 of this title, amending this section and sections 109, 901,
902, 922, 926, and 943 of this title, and renumbering section 927
of this title as 930] shall take effect on the date of the
enactment of this Act [Nov. 3, 1988].
"(b) Application of Amendments. - The amendments made by this Act
shall not apply with respect to cases commenced under title 11 of
the United States Code before the date of the enactment of this Act
[Nov. 3, 1988]."
Section 2 of Pub. L. 100-506 provided that:
"(a) Effective Date. - Except as provided in subsection (b), this
Act and the amendments made by this Act [amending this section and
section 365 of this title] shall take effect on the date of the
enactment of this Act [Oct. 18, 1988].
"(b) Application of Amendments. - The amendments made by this Act
shall not apply with respect to any case commenced under title 11
of the United States Code before the date of the enactment of this
Act [Oct. 18, 1988]."
EFFECTIVE DATE OF 1986 AMENDMENT
Effective date and applicability of amendment by section 201 of
Pub. L. 99-554 dependent upon the judicial district involved, see
section 302(d), (e) of Pub. L. 99-554, set out as a note under
section 581 of Title 28, Judiciary and Judicial Procedure.
Amendment by section 251 of Pub. L. 99-554 effective 30 days
after Oct. 27, 1986, but not applicable to cases commenced under
this title before that date, see section 302(a), (c)(1) of Pub. L.
99-554.
Amendment by section 283 of Pub. L. 99-554 effective 30 days
after Oct. 27, 1986, see section 302(a) of Pub. L. 99-554.
EFFECTIVE DATE OF 1984 AMENDMENT
Section 552, formerly Sec. 553, of title III (Secs. 301-553) of
Pub. L. 98-353, as renumbered by Pub. L. 98-531, Sec. 1(2), Oct.
19, 1984, 98 Stat. 2704, provided that:
"(a) Except as otherwise provided in this section the amendments
made by this title [see Tables for classification] shall become
effective to cases filed 90 days after the date of enactment of
this Act [July 10, 1984].
"(b) The amendments made by section 426(b) [amending section 303
of this title] shall become effective upon the date of enactment of
this Act.
"(c) The amendments made by subtitle J [enacting section 1113 of
this title], shall become effective as provided in section 541(c)
[set out as an Effective Date note under section 1113 of this
title]."
SHORT TITLE OF 2006 AMENDMENT
Pub. L. 109-439, Sec. 1, Dec. 20, 2006, 120 Stat. 3285, provided
that: "This Act [amending section 1325 of this title] may be cited
as the 'Religious Liberty and Charitable Donation Clarification Act
of 2006'."
Pub. L. 109-390, Sec. 1, Dec. 12, 2006, 120 Stat. 2692, provided
that: "This Act [amending this section, sections 362, 546, and 741
of this title, sections 1787, 1821, 4403, and 4404 of Title 12,
Banks and Banking, and section 78eee of Title 15, Commerce and
Trade, and enacting provisions set out as notes under this section]
may be cited as the 'Financial Netting Improvements Act of 2006'."
SHORT TITLE OF 2005 AMENDMENT
Pub. L. 109-8, Sec. 1(a), Apr. 20, 2005, 119 Stat. 23, provided
that: "This Act [see Tables for classification] may be cited as the
'Bankruptcy Abuse Prevention and Consumer Protection Act of 2005'."
Pub. L. 109-8, title III, Sec. 332(a), Apr. 20, 2005, 119 Stat.
103, provided that: "This section [amending section 303 of this
title and section 157 of Title 18, Crimes and Criminal Procedure]
may be cited as the 'Involuntary Bankruptcy Improvement Act of
2005'."
SHORT TITLE OF 2004 AMENDMENT
Pub. L. 108-369, Sec. 1, Oct. 25, 2004, 118 Stat. 1749, provided
that: "This Act [amending sections 1201 to 1208 and 1221 to 1231 of
this title and enacting and amending provisions set out as notes
under section 1201 of this title] may be cited as the 'Family
Farmer Bankruptcy Relief Act of 2004'."
SHORT TITLE OF 2003 AMENDMENT
Pub. L. 108-73, Sec. 1, Aug. 15, 2003, 117 Stat. 891, provided
that: "This Act [amending sections 1201 to 1208 and 1221 to 1231 of
this title and enacting and amending provisions set out as notes
under section 1201 of this title] may be cited as the 'Family
Farmer Bankruptcy Relief Act of 2003'."
SHORT TITLE OF 2002 AMENDMENT
Pub. L. 107-377, Sec. 1, Dec. 19, 2002, 116 Stat. 3115, provided
that: "This Act [amending sections 1201 to 1208 and 1221 to 1231 of
this title, and enacting and amending provisions set out as notes
under section 1201 of this title] may be cited as the 'Protection
of Family Farmers Act of 2002'."
SHORT TITLE OF 1998 AMENDMENT
Pub. L. 105-183, Sec. 1, June 19, 1998, 112 Stat. 517, provided
that: "This Act [amending sections 544, 546, 548, 707, and 1325 of
this title and enacting provisions set out as notes under section
544 of this title] may be cited as the 'Religious Liberty and
Charitable Donation Protection Act of 1998'."
SHORT TITLE OF 1994 AMENDMENT
Section 1(a) of Pub. L. 103-394 provided that: "This Act [see
Tables for classification] may be cited as the 'Bankruptcy Reform
Act of 1994'."
SHORT TITLE OF 1990 AMENDMENTS
Pub. L. 101-581, Sec. 1, Nov. 15, 1990, 104 Stat. 2865, and
section 3101 of title XXXI of Pub. L. 101-647, provided
respectively that such Act and such title [amending sections 523
and 1328 of this title and enacting provisions set out as a note
under section 523 of this title] may be cited as the "Criminal
Victims Protection Act of 1990".
SHORT TITLE OF 1988 AMENDMENT
Pub. L. 100-334, Sec. 1, June 16, 1988, 102 Stat. 610, provided
that: "This Act [enacting section 1114 of this title, amending
section 1129 of this title, enacting provisions set out as a note
under section 1114 of this title, and amending and repealing
provisions set out as notes under section 1106 of this title] may
be cited as the 'Retiree Benefits Bankruptcy Protection Act of
1988'."
SHORT TITLE OF 1984 AMENDMENT
Section 361 of subtitle C (Secs. 361-363) of title III of Pub. L.
98-353 provided that: "This subtitle [amending sections 362, 365,
and 541 of this title] may be cited as the 'Leasehold Management
Bankruptcy Amendments Act of 1983'."
SAVINGS PROVISION
Pub. L. 109-8, title IX, Sec. 912, as added Pub. L. 109-390, Sec.
5(d), Dec. 12, 2006, 120 Stat. 2698, provided that: "The meanings
of terms used in this title [see Tables for classification] are
applicable for the purposes of this title only, and shall not be
construed or applied so as to challenge or affect the
characterization, definition, or treatment of any similar terms
under any other statute, regulation, or rule, including the Gramm-
Leach-Bliley Act [Pub. L. 106-102, see Short Title of 1999
Amendment note set out under section 1811 of Title 12, Banks and
Banking], the Legal Certainty for Bank Products Act of 2000 [7
U.S.C. 27 to 27f], the securities laws (as such term is defined in
section 3(a)(47) of the Securities Exchange Act of 1934 [15 U.S.C.
78c(a)(47)]), and the Commodity Exchange Act [7 U.S.C. 1 et seq.]."
SEPARABILITY
Section 701 of Pub. L. 103-394 provided that: "If any provision
of this Act [see Tables for classification] or amendment made by
this Act or the application of such provision or amendment to any
person or circumstance is held to be unconstitutional, the
remaining provisions of and amendments made by this Act and the
application of such other provisions and amendments to any person
or circumstance shall not be affected thereby."
Section 551 of title III (Secs. 301-553) of Pub. L. 98-353
provided that: "If any provision of this title or any amendment
made by this title [see Tables for classification], or the
application thereof to any person or circumstance is held invalid,
the provisions of every other part, and their application shall not
be affected thereby."
CONSTRUCTION
Pub. L. 109-8, title X, Sec. 1007(e), Apr. 20, 2005, 119 Stat.
188, provided that: "Nothing in this section [amending this section
and sections 109, 1203, and 1206 of this title] shall change,
affect, or amend the Fishery Conservation and Management Act of
1976 (16 U.S.C. 1801 et seq.)."
Pub. L. 109-8, title XI, Sec. 1101(c), Apr. 20, 2005, 119 Stat.
189, provided that: "The amendments made by subsection (a) of this
section [amending this section] shall not affect the interpretation
of section 109(b) of title 11, United States Code."
NONLIMITATION OF INFORMATION
Pub. L. 109-8, title I, Sec. 102(e), Apr. 20, 2005, 119 Stat. 33,
provided that: "Nothing in this title [see Tables for
classification] shall limit the ability of a creditor to provide
information to a judge (except for information communicated ex
parte, unless otherwise permitted by applicable law), United States
trustee (or bankruptcy administrator, if any), or trustee."
JUDICIAL EDUCATION
Pub. L. 109-8, title XII, Sec. 1226, Apr. 20, 2005, 119 Stat.
199, provided that: "The Director of the Federal Judicial Center,
in consultation with the Director of the Executive Office for
United States Trustees, shall develop materials and conduct such
training as may be useful to courts in implementing this Act [see
Short Title of 2005 Amendment note above] and the amendments made
by this Act, including the requirements relating to the means test
under section 707(b), and reaffirmation agreements under section
524, of title 11 of the United States Code, as amended by this
Act."
ADJUSTMENT OF DOLLAR AMOUNTS
For adjustment of dollar amounts specified in pars. (3), (18),
(19A), and (51D) of this section by the Judicial Conference of the
United States, see notes set out under section 104 of this title.
(!1) So in original. Probably should be followed by a comma.
(!2) See References in Text note below.
(!3) So in original.