§ 322. Qualification of trustee

774 words·~4 min read·/usc/title-11/section-322

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(a)Except as provided in subsection (b)(1), a person selected under section 701, 702, 703, 1104, 1163, 1183, 1202, or 1302 of this title to serve as trustee in a case under this title qualifies if before seven days after such selection, and before beginning official duties, such person has filed with the court a bond in favor of the United States conditioned on the faithful performance of such official duties.

(1)The United States trustee qualifies wherever such trustee serves as trustee in a case under this title.

(2)The United States trustee shall determine—

(A)the amount of a bond required to be filed under subsection

(a)of this section; and

(B)the sufficiency of the surety on such bond.

(c)A trustee is not liable personally or on such trustee’s bond in favor of the United States for any penalty or forfeiture incurred by the debtor.

(d)A proceeding on a trustee’s bond may not be commenced after two years after the date on which such trustee was discharged.

(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2562; Pub. L. 98–353, title III, § 429, July 10, 1984, 98 Stat. 369; Pub. L. 99–554, title II, §§ 207, 257(d), Oct. 27, 1986, 100 Stat. 3098, 3114; Pub. L. 103–394, title V, § 501(d)(3), Oct. 22, 1994, 108 Stat. 4143; Pub. L. 111–16, § 2(2), May 7, 2009, 123 Stat. 1607; Pub. L. 116–54, § 4(a)(3), Aug. 23, 2019, 133 Stat. 1085.)

Historical and Revision Notes

legislative statements

Section 322(a) is modified to include a trustee serving in a railroad reorganization under subchapter IV of chapter 11.

senate report no. 95–989

A trustee qualifies in a case by filing, within five days after selection, a bond in favor of the United States, conditioned on the faithful performance of his official duties. This section is derived from the Bankruptcy Act section 50b [section 78(b) of former title 11]. The court is required to determine the amount of the bond and the sufficiency of the surety on the bond. Subsection (c), derived from Bankruptcy Act section 50i [section 78(i) of former title 11], relieves the trustee from personal liability and from liability on his bond for any penalty or forfeiture incurred by the debtor.

Subsection (d), derived from section 50m [section 78(m) of former title 11], fixes a two-year statute of limitations on any action on a trustee’s bond. Finally, subsection

(e)dispenses with the bonding requirement for the United States trustee.

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