Bankruptcy Code Section 782 - 784, Section 901 - 904, Section 921 - Section 930

§ 781.  Definitions

For purposes of this subchapter [11 USCS §§ 781 et seq.], the following definitions shall apply:
   (1) Board. The term "Board" means the Board of Governors of the Federal Reserve System.
   (2) Depository institution. The term "depository institution" has the same meaning as in section 3 of the Federal Deposit Insurance Act [12 USCS § 1813].
   (3) Clearing bank. The term "clearing bank" means an uninsured State member bank, or a corporation organized under section 25A of the Federal Reserve Act [12 USCS § 611 et seq.], which operates, or operates as, a multilateral clearing organization pursuant to section 409 of the Federal Deposit Insurance Corporation Improvement Act of 1991 [12 USCS § 4422].


§ 782.  Selection of trustee

(a) In general.
   (1) Appointment. Notwithstanding any other provision of this title, the conservator or receiver who files the petition shall be the trustee under this chapter [11 USCS §§ 701 et seq.], unless the Board designates an alternative trustee.
   (2) Successor. The Board may designate a successor trustee if required.
 
(b) Authority of trustee.  Whenever the Board appoints or designates a trustee, chapter 3 [11 USCS §§ 301 et seq.] and sections 704 and 705 of this title [11 USCS §§ 704 and 705] shall apply to the Board in the same way and to the same extent that they apply to a United States trustee.

§ 783.  Additional powers of trustee

(a) Distribution of property not of the estate.  The trustee under this subchapter [11 USCS §§ 781 et seq.] has power to distribute property not of the estate, including distributions to customers that are mandated by subchapters III and IV of this chapter [11 USCS §§ 741 et seq, and 761 et seq.].
 
(b) Disposition of institution.  The trustee under this subchapter [11 USCS §§ 781 et seq.] may, after notice and a hearing--
   (1) sell the clearing bank to a depository institution or consortium of depository institutions (which consortium may agree on the allocation of the clearing bank among the consortium);
   (2) merge the clearing bank with a depository institution;
   (3) transfer contracts to the same extent as could a receiver for a depository institution under paragraphs (9) and (10) of section 11(e) of the Federal Deposit Insurance Act [12 USCS § 1821(e)];
   (4) transfer assets or liabilities to a depository institution; and
   (5) transfer assets and liabilities to a bridge depository institution as provided in paragraphs (1), (3)(A), (5), and (6), of section 11(n) of the Federal Deposit Insurance Act [12 USCS § 1821(n)], paragraphs (9) through (13) of such section, and subparagraphs (A) through (H) and subparagraph (K) of paragraph (4) of such section 11(n) [12 USCS § 1821(n)], except that--
      (A) the bridge depository institution to which such assets or liabilities are transferred shall be treated as a clearing bank for the purpose of this subsection; and
      (B) any references in any such provision of law to the Federal Deposit Insurance Corporation shall be construed to be references to the appointing agency and that references to deposit insurance shall be omitted.
 
(c) Certain transfers included.  Any reference in this section to transfers of liabilities includes a ratable transfer of liabilities within a priority class.

§ 784.  Right to be heard

The Board or a Federal reserve bank (in the case of a clearing bank that is a member of that bank) may raise and may appear and be heard on any issue in a case under this subchapter [11 USCS §§ 781 et seq.].

§ 901.  Applicability of other sections of this title

(a) Sections 301, 344, 347(b), 349, 350(b), 361, 362, 364(c), 364(d), 364(e), 364(f), 365, 366, 501, 502, 503, 504, 506, 507(a)(2), 509, 510, 524(a)(1), 524(a)(2), 544, 545, 546, 547, 548, 549(a), 549(c), 549(d), 550, 551, 552, 553, 555, 556, 557, 559, 560, 561, 562, 1102, 1103, 1109, 1111(b), 1122, 1123(a)(1), 1123(a)(2), 1123(a)(3), 1123(a)(4), 1123(a)(5), 1123(b), 1123(d), 1124, 1125, 1126(a), 1126(b), 1126(c), 1126(e), 1126(f), 1126(g), 1127(d), 1128, 1129(a)(2), 1129(a)(3), 1129(a)(6), 1129(a)(8), 1129(a)(10), 1129(b)(1), 1129(b)(2)(A), 1129(b)(2)(B), 1142(b), 1143, 1144, and 1145 of this title [11 USCS §§ 301, 344, 347(b), 349, 350(b), 361, 362, 364(c), 364(d), 364(e), 364(f), 365, 366, 501, 502, 503, 504, 506, 507(a)(2), 509, 510, 524(a)(1), 524(a)(2), 544, 545, 546, 547, 548, 549(a), 549(c), 549(d), 550, 551, 552, 553, 555, 556, 557, 559, 560, 561, 562, 1102, 1103, 1109, 1111(b), 1122, 1123(a)(1), 1123(a)(2), 1123(a)(3), 1123(a)(4), 1123(a)(5), 1123(b), 1123(d), 1124, 1125, 1126(a), 1126(b), 1126(c), 1126(e), 1126(f), 1126(g), 1127(d), 1128, 1129(a)(2), 1129(a)(3), 1129(a)(6), 1129(a)(8), 1129(a)(10), 1129(b)(1), 1129(b)(2)(A), 1129(b)(2)(B), 1142(b), 1143, 1144, and 1145] apply in a case under this chapter [11 USCS §§ 901 et seq.].
 
(b) A term used in a section of this title made applicable in a case under this chapter [11 USCS §§ 901 et seq.] by subsection (a) of this section or section 103(e) of this title [11 USCS § 103(e)] has the meaning defined for such term for the purpose of such applicable section, unless such term is otherwise defined in section 902 of this title [11 USCS § 902].
 
(c) A section made applicable in a case under this chapter [11 USCS §§ 901 et seq.] by subsection (a) of this section that is operative if the business of the debtor is authorized to be operated is operative in a case under this chapter [11 USCS §§ 901 et seq.].
 
§ 902.  Definitions for this chapter

In this chapter [11 USCS §§ 901 et seq.]--
   (1) "property of the estate", when used in a section that is made applicable in a case under this chapter [11 USCS §§ 901 et seq.] by section 103(e) or 901 of this title [11 USCS § 103(e) or 901], means property of the debtor;
   (2) "special revenues" means--
      (A) receipts derived from the ownership, operation, or disposition of projects or systems of the debtor that are primarily used or intended to be used primarily to provide transportation, utility, or other services, including the proceeds of borrowings to finance the projects or systems;
      (B) special excise taxes imposed on particular activities or transactions;
      (C) incremental tax receipts from the benefited area in the case of tax-increment financing;
      (D) other revenues or receipts derived from particular functions of the debtor, whether or not the debtor has other functions; or
      (E) taxes specifically levied to finance one or more projects or systems, excluding receipts from general property, sales, or income taxes (other than tax-increment financing) levied to finance the general purposes of the debtor;
   (3) "special tax payer" means record owner or holder of legal or equitable title to real property against which a special assessment or special tax has been levied the proceeds of which are the sole source of payment of an obligation issued by the debtor to defray the cost of an improvement relating to such real property;
   (4) "special tax payer affected by the plan" means special tax payer with respect to whose real property the plan proposes to increase the proportion of special assessments or special taxes referred to in paragraph (2) of this section assessed against such real property; and
   (5) "trustee", when used in a section that is made applicable in a case under this chapter by section 103(e) or 901 of this title [11 USCS § 103(e) or 901], means debtor, except as provided in section 926 of this title [11 USCS § 926].

§ 903.  Reservation of State power to control municipalities

This chapter [11 USCS §§ 901 et seq.] does not limit or impair the power of a State to control, by legislation or otherwise, a municipality of or in such State in the exercise of the political or governmental powers of such municipality, including expenditures for such exercise, but--
   (1) a State law prescribing a method of composition of indebtedness of such municipality may not bind any creditor that does not consent to such composition; and
   (2) a judgment entered under such a law may not bind a creditor that does not consent to such composition.
 
§ 904.  Limitation on jurisdiction and powers of court

Notwithstanding any power of the court, unless the debtor consents or the plan so provides, the court may not, by any stay, order, or decree, in the case or otherwise, interfere with--
   (1) any of the political or governmental powers of the debtor;
   (2) any of the property or revenues of the debtor; or
   (3) the debtor's use or enjoyment of any income-producing property.

§ 921.  Petition and proceedings relating to petition

(a) Notwithstanding sections 109(d) and 301 of this title [11 USCS §§ 109(d) and 301], a case under this chapter [11 USCS §§ 901 et seq.] concerning an unincorporated tax or special assessment district that does not have such district's own officials is commenced by the filing under section 301 of this title [11 USCS § 301] of a petition under this chapter [11 USCS §§ 901 et seq.] by such district's governing authority or the board or body having authority to levy taxes or as-sessments to meet the obligations of such district.
 
(b) The chief judge of the court of appeals for the circuit embracing the district in which the case is commenced shall designate the bankruptcy judge to conduct the case.
 
(c) After any objection to the petition, the court, after notice and a hearing, may dismiss the petition if the debtor did not file the petition in good faith or if the petition does not meet the requirements of this title.
 
(d) If the petition is not dismissed under subsection (c) of this section, the court shall order relief under this chapter [11 USCS §§ 901 et seq.] notwithstanding section 301(b) [11 USCS § 301(b)].
 
(e) The court may not, on account of an appeal from an order for relief, delay any proceeding under this chapter [11 USCS §§ 901 et seq.] in the case in which the appeal is being taken; nor shall any court order a stay of such proceeding pending such appeal. The reversal on appeal of a finding of jurisdiction does not affect the validity of any debt incurred that is authorized by the court under section 364(c) or 364(d) of this title [11 USCS § 364(c) or (d)].

§ 922.  Automatic stay of enforcement of claims against the debtor

(a) A petition filed under this chapter [11 USCS §§ 901 et seq.] operates as a stay, in addition to the stay provided by section 362 of this title [11 USCS § 362], applicable to all entities, of--
   (1) the commencement or continuation, including the issuance or employment of process, of a judicial, administrative, or other action or proceeding against an officer or inhabitant of the debtor that seeks to enforce a claim against the debtor; and
   (2) the enforcement of a lien on or arising out of taxes or assessments owed to the debtor.
 
(b) Subsections (c), (d), (e), (f), and (g) of section 362 of this title [11 USCS § 362(c), (d), (e), (f), and (g)] apply to a stay under subsection (a) of this section the same as such subsections apply to a stay under section 362(a) of this title [11 USCS § 362(a)].
 
(c) If the debtor provides, under section 362, 364, or 922 of this title [11 USCS § 362, 364, or 922], adequate protection of the interest of the holder of a claim secured by a lien on property of the debtor and if, notwithstanding such protection such creditor has a claim arising from the stay of action against such property under section 362 or 922 of this title [11 USCS § 362 or 922] or from the granting of a lien under section 364(d) of this title [11 USCS § 364(d)], then such claim shall be allowable as an administrative expense under section 503(b) of this title [11 USCS § 503(b)].
 
(d) Notwithstanding section 362 of this title [11 USCS § 362] and subsection (a) of this section, a petition filed under this chapter does not operate as a stay of application of pledged special revenues in a manner consistent with section 927 of this title [11 USCS § 927] to payment of indebtedness secured by such revenues.

§ 923.  Notice

There shall be given notice of the commencement of a case under this chapter [11 USCS §§ 901 et seq.], notice of an order for relief under this chapter [11 USCS §§ 901 et seq.], and notice of the dismissal of a case under this chapter [11 USCS §§ 901 et seq.]. Such notice shall also be published at least once a week for three successive weeks in at least one newspaper of general circulation published within the district in which the case is commenced, and in such other newspaper having a general circulation among bond dealers and bondholders as the court designates.

§ 924.  List of creditors

The debtor shall file a list of creditors.

§ 925.  Effect of list of claims

A proof of claim is deemed filed under section 501 of this title [11 USCS § 501] for any claim that appears in the list filed under section 924 of this title [11 USCS § 924], except a claim that is listed as disputed, contingent, or unliquidated.

§ 926.  Avoiding powers

(a) If the debtor refuses to pursue a cause of action under section 544, 545, 547, 548, 549(a), or 550 of this title [11 USCS § 544, 545, 547, 548, 549(a), or 550], then on request of a creditor, the court may appoint a trustee to pursue such cause of action.
 
(b) A transfer of property of the debtor to or for the benefit of any holder of a bond or note, on account of such bond or note, may not be avoided under section 547 of this title [11 USCS § 547].

§ 927.  Limitation on recourse

The holder of a claim payable solely from special revenues of the debtor under applicable nonbankruptcy law shall not be treated as having recourse against the debtor on account of such claim pursuant to section 1111(b) of this title [11 USCS § 1111(b)].

§ 928.  Post petition effect of security interest

(a) Notwithstanding section 552(a) of this title [11 USCS § 552(a)] and subject to subsection (b) of this section, special revenues acquired by the debtor after the commencement of the case shall remain subject to any lien resulting from any security agreement entered into by the debtor before the commencement of the case.
 
(b) Any such lien on special revenues, other than municipal betterment assessments, derived from a project or system shall be subject to the necessary operating expenses of such project or system, as the case may be.

§ 929.  Municipal leases

A lease to a municipality shall not be treated as an executory contract or unexpired lease for the purposes of section 365 or 502(b)(6) of this title [11 USCS § 365 or 502(b)(6)] solely by reason of its being subject to termination in the event the debtor fails to appropriate rent.

§ 930.  Dismissal

(a) After notice and a hearing, the court may dismiss a case under this chapter [11 USCS §§ 901 et seq.] for cause, in-cluding--
   (1) want of prosecution;
   (2) unreasonable delay by the debtor that is prejudicial to creditors;
   (3) failure to propose a plan within the time fixed under section 941 of this title [11 USCS § 941];
   (4) if a plan is not accepted within any time fixed by the court;
   (5) denial of confirmation of a plan under section 943(b) of this title [11 USCS § 943(b)] and denial of additional time for filing another plan or a modification of a plan; or
   (6) if the court has retained jurisdiction after confirmation of a plan--
      (A) material default by the debtor with respect to a term of such plan; or
      (B) termination of such plan by reason of the occurrence of a condition specified in such plan.
 
(b) The court shall dismiss a case under this chapter [11 USCS §§ 901 et seq.] if confirmation of a plan under this chapter [11 USCS §§ 901 et seq.] is refused.


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