11 U.S.C. § 341 : US Code - Section 341: Meetings of creditors and equity security holders

Search 11 U.S.C. § 341 : US Code - Section 341: Meetings of creditors and equity security holders

(a) Within a reasonable time after the order for relief in a case
under this title, the United States trustee shall convene and
preside at a meeting of creditors.
(b) The United States trustee may convene a meeting of any equity
security holders.
(c) The court may not preside at, and may not attend, any meeting
under this section including any final meeting of creditors.
Notwithstanding any local court rule, provision of a State
constitution, any otherwise applicable nonbankruptcy law, or any
other requirement that representation at the meeting of creditors
under subsection (a) be by an attorney, a creditor holding a
consumer debt or any representative of the creditor (which may
include an entity or an employee of an entity and may be a
representative for more than 1 creditor) shall be permitted to
appear at and participate in the meeting of creditors in a case
under chapter 7 or 13, either alone or in conjunction with an
attorney for the creditor. Nothing in this subsection shall be
construed to require any creditor to be represented by an attorney
at any meeting of creditors.
(d) Prior to the conclusion of the meeting of creditors or equity
security holders, the trustee shall orally examine the debtor to
ensure that the debtor in a case under chapter 7 of this title is
aware of -
(1) the potential consequences of seeking a discharge in
bankruptcy, including the effects on credit history;
(2) the debtor's ability to file a petition under a different
chapter of this title;
(3) the effect of receiving a discharge of debts under this
title; and
(4) the effect of reaffirming a debt, including the debtor's
knowledge of the provisions of section 524(d) of this title.
(e) Notwithstanding subsections (a) and (b), the court, on the
request of a party in interest and after notice and a hearing, for
cause may order that the United States trustee not convene a
meeting of creditors or equity security holders if the debtor has
filed a plan as to which the debtor solicited acceptances prior to
the commencement of the case.