Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

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TITLE 11–BANKRUPTCY

CHAPTER 12– ADJUSTMENT OF DEBTS OF A FAMILY FARMER
WITH REGULAR ANNUAL INCOME


Sub Chapter II – The Plan

Sec. 1226. Payments

  (a) Payments and funds received by the trustee shall be retained by 
the trustee until confirmation or denial of confirmation of a plan. If a 
plan is confirmed, the trustee shall distribute any such payment in 
accordance with the plan. If a plan is not confirmed, the trustee shall 
return any such payments to the debtor, after deducting--
        (1) any unpaid claim allowed under section 503(b) of this title; 
    and
        (2) if a standing trustee is serving in the case, the percentage 
    fee fixed for such standing trustee.

    (b) Before or at the time of each payment to creditors under the 
plan, there shall be paid--
        (1) any unpaid claim of the kind specified in section 507(a)(1) 
    of this title; and
        (2) if a standing trustee appointed under section 1202(c) \1\ of 
    this title is serving in the case, the percentage fee fixed for such 
    standing trustee under section 1202(d) \1\ of this title.
---------------------------------------------------------------------------
    \1\ See References in Text note below.

    (c) Except as otherwise provided in the plan or in the order 
confirming the plan, the trustee shall make payments to creditors under 
the plan.

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III, 
Sec. 302(f), Oct. 27, 1986, 100 Stat. 3111, 3124; Pub. L. 103-394, title 
V, Sec. 501(d)(36), Oct. 22, 1994, 108 Stat. 4147; Pub. L. 105-277, div. 
C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610.)

                         Termination of Section

        For termination of reenactment of this section by section 149(a) 
    of Pub. L. 105-277, see Repeal, Reenactment, and Termination of 
    Chapter note set out under section 1201 of this title.

                       References in Text

    Section 1202(c) and (d) of this title, referred to in subsec. 
(b)(2), was repealed by section 227 of Pub. L. 99-554, and provisions 
relating to appointment of and fixing percentage fees for standing 
trustees are contained in section 586(b) and (e) of Title 28, Judiciary 
and Judicial Procedure, as amended by section 113(b), (c) of Pub. L. 99-
554.

                          Codification

    Section repealed effective Oct. 1, 1998, by Pub. L. 99-554, title 
III, Sec. 302(f), Oct. 27, 1986, 100 Stat. 3124, as amended by Pub. L. 
103-65, Sec. 1, Aug. 6, 1993, 107 Stat. 311. Section, as in effect on 
Sept. 30, 1998, reenacted by Pub. L. 105-277, div. C, title I, 
Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610, for the period beginning 
on Oct. 1, 1998, and ending on Apr. 1, 1999. See Repeal, Reenactment, 
and Termination of Chapter note set out under section 1201 of this 
title.


                               Amendments

    1994--Subsec. (b)(2). Pub. L. 103-394 substituted ``1202(c)'' for 
``1202(d)'' and ``1202(d)'' for ``1202(e)''.


                    Effective Date of 1994 Amendment

    Amendment by Pub. L. 103-394 effective Oct. 22, 1994, and not 
applicable with respect to cases commenced under this title before Oct. 
22, 1994, see section 702 of Pub. L. 103-394, set out as a note under 
section 101 of this title.

                  Section Referred to in Other Sections

    This section is referred to in section 347 of this title.


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Legal Resource Center: United States Code TITLE 11 Filing Bankruptcy Forms Software