FEDERAL · 11 U.S.C. · Chapter SUBCHAPTER III—STOCKBROKER LIQUIDATION
Executory contracts
11 U.S.C. § 744
Title11 — Bankruptcy
ChapterSUBCHAPTER III—STOCKBROKER LIQUIDATION
This text of 11 U.S.C. § 744 (Executory contracts) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
11 U.S.C. § 744.
Text
Notwithstanding section 365(d)(1) of this title, the trustee shall assume or reject, under section 365 of this title, any executory contract of the debtor for the purchase or sale of a security in the ordinary course of the debtor's business, within a reasonable time after the date of the order for relief, but not to exceed 30 days. If the trustee does not assume such a contract within such time, such contract is rejected.
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Related
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Source Credit
History
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2613; Pub. L. 97–222, §10, July 27, 1982, 96 Stat. 238.)
Editorial Notes
Historical and Revision Notes
senate report no. 95–989
Section 744 instructs the court to give the trustee a reasonable time, not to exceed 30 days, to assume or reject any executory contract of the stockbroker to buy or sell securities. Any contract not assumed within the time fixed by the court is considered to be rejected.
Editorial Notes
Amendments
1982—Pub. L. 97–222 inserted "but" after "relief,".
senate report no. 95–989
Section 744 instructs the court to give the trustee a reasonable time, not to exceed 30 days, to assume or reject any executory contract of the stockbroker to buy or sell securities. Any contract not assumed within the time fixed by the court is considered to be rejected.
Editorial Notes
Amendments
1982—Pub. L. 97–222 inserted "but" after "relief,".
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Bluebook (online)
11 U.S.C. § 744, Counsel Stack Legal Research, https://law.counselstack.com/usc/11/744.