11 U.S.C. § 749 : US Code - Section 749: Voidable transfers

Search 11 U.S.C. § 749 : US Code - Section 749: Voidable transfers

(a) Except as otherwise provided in this section, any transfer of
property that, but for such transfer, would have been customer
property, may be avoided by the trustee, and such property shall be
treated as customer property, if and to the extent that the trustee
avoids such transfer under section 544, 545, 547, 548, or 549 of
this title. For the purpose of such sections, the property so
transferred shall be deemed to have been property of the debtor
and, if such transfer was made to a customer or for a customer's
benefit, such customer shall be deemed, for the purposes of this
section, to have been a creditor.
(b) Notwithstanding sections 544, 545, 547, 548, and 549 of this
title, the trustee may not avoid a transfer made before five days
after the order for relief if such transfer is approved by the
Commission by rule or order, either before or after such transfer,
and if such transfer is -
(1) a transfer of a securities contract entered into or carried
by or through the debtor on behalf of a customer, and of any
cash, security, or other property margining or securing such
securities contract; or
(2) the liquidation of a securities contract entered into or
carried by or through the debtor on behalf of a customer.