11 U.S.C. § 555 : US Code - Section 555: Contractual right to liquidate, terminate, or accelerate a securities contract

Search 11 U.S.C. § 555 : US Code - Section 555: Contractual right to liquidate, terminate, or accelerate a securities contract

The exercise of a contractual right of a stockbroker, financial
institution, financial participant, or securities clearing agency
to cause the liquidation, termination, or acceleration of a
securities contract, as defined in section 741 of this title,
because of a condition of the kind specified in section 365(e)(1)
of this title shall not be stayed, avoided, or otherwise limited by
operation of any provision of this title or by order of a court or
administrative agency in any proceeding under this title unless
such order is authorized under the provisions of the Securities
Investor Protection Act of 1970 or any statute administered by the
Securities and Exchange Commission. As used in this section, the
term "contractual right" includes a right set forth in a rule or
bylaw of a derivatives clearing organization (as defined in the
Commodity Exchange Act), a multilateral clearing organization (as
defined in the Federal Deposit Insurance Corporation Improvement
Act of 1991), a national securities exchange, a national securities
association, a securities clearing agency, a contract market
designated under the Commodity Exchange Act, a derivatives
transaction execution facility registered under the Commodity
Exchange Act, or a board of trade (as defined in the Commodity
Exchange Act), or in a resolution of the governing board thereof,
and a right, whether or not in writing, arising under common law,
under law merchant, or by reason of normal business practice.