§ 763. Treatment of accounts

212 words·~1 min read·/usc/title-11/section-763

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(a)Accounts held by the debtor for a particular customer in separate capacities shall be treated as accounts of separate customers.

(b)A member of a clearing organization shall be deemed to hold such member’s proprietary account in a separate capacity from such member’s customers’ account.

(c)The net equity in a customer’s account may not be offset against the net equity in the account of any other customer.

(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2618; Pub. L. 98–353, title III, § 486, July 10, 1984, 98 Stat. 383.)

Historical and Revision Notes

senate report no. 95–989

Section 763 provides for separate treatment of accounts held in separate capacities. A deficit in one account held for a customer may not be offset against the net equity in another account held by the same customer in a separate capacity or held by another customer.

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

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U.S. Code

Definitions
§ 101

6 references not yet in our index

Pub. L. 95–598
92 Stat. 2618
Pub. L. 98–353, title III, § 486
98 Stat. 383
Pub. L. 98–353
section 552(a) of Pub. L. 98–353

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§ 763

Treatment of accounts

Stat.×1

U.S.C.§ 101

Pub. L.Pub. L. 95–598

Stat.92 Stat. 2618

Pub. L.Pub. L. 98–353, title III, § 486

Stat.98 Stat. 383

Pub. L.Pub. L. 98–353

Cites 7 · showing 6Cited by 1 across 1 source