§ 765. Customer instructions

Statutory text

The notice required by section 342 of this title to customers shall instruct each customer—

to file a proof of such customer’s claim promptly, and to specify in such claim any specifically identifiable security, property, or commodity contract; and

to instruct the trustee of such customer’s desired disposition, including transfer under section 766 of this title or liquidation, of any commodity contract specifically identified to such customer.

The trustee shall comply, to the extent practicable, with any instruction received from a customer regarding such customer’s desired disposition of any commodity contract specifically identified to such customer. If the trustee has transferred, under section 766 of this title, such a commodity contract, the trustee shall transmit any such instruction to the commodity broker to whom such commodity contract was so transferred.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1978
Pub. L. 95–598 · 92 Stat. 2549
Enacted · 11 U.S.C. § 765
Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2619
Source evidence
Code source credit
Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2619
1982
Pub. L. 97–222 § 18 · 96 Stat. 235
Substituted · 11 U.S.C. § 765(b)
Pub. L. 97–222 substituted “commodity contract” for “commitment”
Source evidence
Code amendment note
Subsec. (b). Pub. L. 97–222 substituted “commodity contract” for “commitment”.
Enacted provision · exact public law section
Sec. 18. Section 765(b) of title 11, United States Code, is amended by striking out “commitment” and inserting in lieu thereof “commodity contract”.
1984
Pub. L. 98–353 title III § 488 · 98 Stat. 333
Substituted · 11 U.S.C. § 765(a)
Pub. L. 98–353 substituted “notice required by” for “notice under”
Source evidence
Code amendment note
Subsec. (a). Pub. L. 98–353 substituted “notice required by” for “notice under”.
Enacted provision · exact public law section
Sec. 488. Section 765(a) of title 11 of the United States Code is amended by striking out “notice under”, and inserting in lieu thereof “notice required by”.
Effective date note
Amendment by Pub. L. 98–353 effective with respect to cases filed 90 days after July 10, 1984, see section 552(a) of Pub. L. 98–353, set out as a note under section 101 of this title.

2 of 3 references resolved to an enrolled provision · 1 partial

Notes

Historical and Revision Notes

For Historical and Revision Notes for this section, see Historical and Revision Notes set out under section 766 of this title.

Editorial Notes

Amendments1982–1984 · 2 rounds

1984

Subsec. (a). Pub. L. 98–353 substituted “notice required by” for “notice under”.

1982

Subsec. (b). Pub. L. 97–222 substituted “commodity contract” for “commitment”.

Statutory Notes and Related Subsidiaries

Effective Date of 1984 Amendment

Amendment by Pub. L. 98–353 effective with respect to cases filed 90 days after July 10, 1984, see section 552(a) of Pub. L. 98–353, set out as a note under section 101 of this title.

Credits

1978–1984 · 3 acts

1978Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2619
1982Pub. L. 97–222, § 18, July 27, 1982, 96 Stat. 240
1984Pub. L. 98–353, title III, § 488, July 10, 1984, 98 Stat. 383.

Show as published

(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2619; Pub. L. 97–222, § 18, July 27, 1982, 96 Stat. 240; Pub. L. 98–353, title III, § 488, July 10, 1984, 98 Stat. 383.)