§ 321. Eligibility to serve as trustee

483 words·~2 min read·/usc/title-11/section-321

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A person may serve as trustee in a case under this title only if such person is—

(1)an individual that is competent to perform the duties of trustee and, in a case under chapter 7, 12, or 13 of this title, resides or has an office in the judicial district within which the case is pending, or in any judicial district adjacent to such district; or

(2)a corporation authorized by such corporation’s charter or bylaws to act as trustee, and, in a case under chapter 7, 12, or 13 of this title, having an office in at least one of such districts.

(b)A person that has served as an examiner in the case may not serve as trustee in the case.

(c)The United States trustee for the judicial district in which the case is pending is eligible to serve as trustee in the case if necessary.

(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2561; Pub. L. 98–353, title III, § 428, July 10, 1984, 98 Stat. 369; Pub. L. 99–554, title II, §§ 206, 257(c), Oct. 27, 1986, 100 Stat. 3098, 3114.)

Historical and Revision Notes

legislative statements

Section 321 indicates that an examiner may not serve as a trustee in the case.

senate report no. 95–989

Section 321 is adapted from current Bankruptcy Act § 45 [section 73 of former title 11] and Bankruptcy Rule 209. Subsection

(a)specifies that an individual may serve as trustee in a bankruptcy case only if he is competent to perform the duties of trustee and resides or has an office in the judicial district within which the case is pending, or in an adjacent judicial district. A corporation must be authorized by its charter or bylaws to act as trustee, and, for chapter 7 or 13 cases, must have an office in any of the above mentioned judicial districts.

Connections2 cite this · traces to 2

Cited by 2 sections

statutes-at-large

Public Law 95–598
To establish a uniform Law on the Subject of Bankruptcies

CFR

§ 58.6
Procedures for suspension and removal of panel trustees and standing trustees.

Traces to 2 documents

U.S. Code

13 references not yet in our index

Pub. L. 95–598
92 Stat. 2561
Pub. L. 98–353, title III, § 428
98 Stat. 369
Pub. L. 99–554, title II
100 Stat. 3098
Pub. L. 99–554, § 257(c)
Pub. L. 99–554, § 206
Pub. L. 98–353
section 206 of Pub. L. 99–554
Pub. L. 99–554
section 257 of Pub. L. 99–554
section 552(a) of Pub. L. 98–353

Citation graph

cites case law

§ 321

Eligibility to serve as trustee

C.F.R.×1

Stat.×1

U.S.C.§ 581

U.S.C.§ 101

Pub. L.Pub. L. 95–598

Stat.92 Stat. 2561

Pub. L.Pub. L. 98–353, title III, § 428

Stat.98 Stat. 369

Pub. L.Pub. L. 99–554, title II

Cites 15 · showing 7Cited by 2 across 2 sources