Volume 73
Public Law 86–24
To amend Chapter 13—Wage Earners’ Plans—of the Bankruptcy Act.
Approved May 13, 1959
Statutory text
AN ACT
To amend Chapter 13—Wage Earners’ Plans—of the Bankruptcy Act.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That paragraph (8) of section 606 of the Bankruptcy Act (11 U.S.C., 1006(8)) is amended to read as follows:
“(8) ‘wage earner’ shall mean an individual whose principal income is derived from wages, salary or commissions.”
Sec. 2.
That paragraph (3) of section 659 of such Act (11 U.S.C.,
1059(3)) is hereby amended to read as follows:
“(3) an additional fee for the referees’ salary fund, to be graduated and charged in the manner outlined in paragraph (2) of subdivision c of section 40 of this Act, and to be computed upon the amount of the payments actually made by or for a debtor under the plan: and commissions to the trustee of not more than 5 per centum to be computed upon and payable out of the payments actually made by or for a debtor under the plan;”.
Sec. 3.
The provisions of this Act shall apply to all cases in which
Applicability.
the petition initiating the proceedings under the Bankruptcy Act is filed subsequent to the date of the enactment of this Act.
Approved May 13, 1959.