11 U.S.C. § 1222 : US Code - Section 1222: Contents of plan

Search 11 U.S.C. § 1222 : US Code - Section 1222: Contents of plan

(a) The plan shall -
(1) provide for the submission of all or such portion of future
earnings or other future income of the debtor to the supervision
and control of the trustee as is necessary for the execution of
the plan;
(2) provide for the full payment, in deferred cash payments, of
all claims entitled to priority under section 507, unless -
(A) the claim is a claim owed to a governmental unit that
arises as a result of the sale, transfer, exchange, or other
disposition of any farm asset used in the debtor's farming
operation, in which case the claim shall be treated as an
unsecured claim that is not entitled to priority under section
507, but the debt shall be treated in such manner only if the
debtor receives a discharge; or
(B) the holder of a particular claim agrees to a different
treatment of that claim;
(3) if the plan classifies claims and interests, provide the
same treatment for each claim or interest within a particular
class unless the holder of a particular claim or interest agrees
to less favorable treatment; and
(4) notwithstanding any other provision of this section, a plan
may provide for less than full payment of all amounts owed for a
claim entitled to priority under section 507(a)(1)(B) only if the
plan provides that all of the debtor's projected disposable
income for a 5-year period beginning on the date that the first
payment is due under the plan will be applied to make payments
under the plan.
(b) Subject to subsections (a) and (c) of this section, the plan
may -
(1) designate a class or classes of unsecured claims, as
provided in section 1122 of this title, but may not discriminate
unfairly against any class so designated; however, such plan may
treat claims for a consumer debt of the debtor if an individual
is liable on such consumer debt with the debtor differently than
other unsecured claims;
(2) modify the rights of holders of secured claims, or of
holders of unsecured claims, or leave unaffected the rights of
holders of any class of claims;
(3) provide for the curing or waiving of any default;
(4) provide for payments on any unsecured claim to be made
concurrently with payments on any secured claim or any other
unsecured claim;
(5) provide for the curing of any default within a reasonable
time and maintenance of payments while the case is pending on any
unsecured claim or secured claim on which the last payment is due
after the date on which the final payment under the plan is due;
(6) subject to section 365 of this title, provide for the
assumption, rejection, or assignment of any executory contract or
unexpired lease of the debtor not previously rejected under such
section;
(7) provide for the payment of all or part of a claim against
the debtor from property of the estate or property of the debtor;
(8) provide for the sale of all or any part of the property of
the estate or the distribution of all or any part of the property
of the estate among those having an interest in such property;
(9) provide for payment of allowed secured claims consistent
with section 1225(a)(5) of this title, over a period exceeding
the period permitted under section 1222(c);
(10) provide for the vesting of property of the estate, on
confirmation of the plan or at a later time, in the debtor or in
any other entity;
(11) provide for the payment of interest accruing after the
date of the filing of the petition on unsecured claims that are
nondischargeable under section 1228(a), except that such interest
may be paid only to the extent that the debtor has disposable
income available to pay such interest after making provision for
full payment of all allowed claims; and
(12) include any other appropriate provision not inconsistent
with this title.
(c) Except as provided in subsections (b)(5) and (b)(9), the plan
may not provide for payments over a period that is longer than
three years unless the court for cause approves a longer period,
but the court may not approve a period that is longer than five
years.
(d) Notwithstanding subsection (b)(2) of this section and
sections 506(b) and 1225(a)(5) of this title, if it is proposed in
a plan to cure a default, the amount necessary to cure the default,
shall be determined in accordance with the underlying agreement and
applicable nonbankruptcy law.