CHAPTER 3CASE ADMINISTRATION
Sub Chapter II Officers
Sec. 322. Qualification of trustee
(a) Except as provided in subsection (b)(1), a person selected under
section 701, 702, 703, 1104, 1163, 1202, or 1302 of this title to serve
as trustee in a case under this title qualifies if before five days
after such selection, and before beginning official duties, such person
has filed with the court a bond in favor of the United States
conditioned on the faithful performance of such official duties.
(b)(1) The United States trustee qualifies wherever such trustee
serves as trustee in a case under this title.
(2) The United States trustee shall determine--
(A) the amount of a bond required to be filed under subsection
(a) of this section; and
(B) the sufficiency of the surety on such bond.
(c) A trustee is not liable personally or on such trustee's bond in
favor of the United States for any penalty or forfeiture incurred by the
(d) A proceeding on a trustee's bond may not be commenced after two
years after the date on which such trustee was discharged.
(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2562; Pub. L. 98-353, title III,
Sec. 429, July 10, 1984, 98 Stat. 369; Pub. L. 99-554, title II,
Secs. 207, 257(d), Oct. 27, 1986, 100 Stat. 3098, 3114; Pub. L. 103-394,
title V, Sec. 501(d)(3), Oct. 22, 1994, 108 Stat. 4143.)
Historical and Revision Notes
Section 322(a) is modified to include a trustee serving in a
railroad reorganization under subchapter IV of chapter 11.
senate report no. 95-989
A trustee qualifies in a case by filing, within five days after
selection, a bond in favor of the United States, conditioned on the
faithful performance of his official duties. This section is derived
from the Bankruptcy Act section 50b [section 78(b) of former title 11].
The court is required to determine the amount of the bond and the
sufficiency of the surety on the bond. Subsection (c), derived from
Bankruptcy Act section 50i [section 78(i) of former title 11], relieves
the trustee from personal liability and from liability on his bond for
any penalty or forfeiture incurred by the debtor. Subsection (d),
derived from section 50m [section 78(m) of former title 11], fixes a
two-year statute of limitations on any action on a trustee's bond.
Finally, subsection (e) dispenses with the bonding requirement for the
United States trustee.
1994--Subsec. (a). Pub. L. 103-394 substituted ``1202, or 1302'' for
``1302, or 1202''.
1986--Subsec. (a). Pub. L. 99-554, Sec. 257(d), inserted reference
to section 1202 of this title.
Pub. L. 99-554, Sec. 207(1), substituted ``Except as provided in
subsection (b)(1), a person'' for ``A person''.
Subsec. (b). Pub. L. 99-554, Sec. 207(2), amended subsec. (b)
generally, adding par. (1), designating existing provisions as par. (2),
substituting ``The United States trustee'' for ``The court'', ``(A) the
amount'' for ``(1) the amount'', and ``(B) the sufficiency'' for ``(2)
1984--Subsec. (b)(1). Pub. L. 98-353 inserted ``required to be''.
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.
Effective Date of 1986 Amendment
Effective date and applicability of amendment by section 207 of Pub.
L. 99-554 dependent upon the judicial district involved, see section
302(d), (e) of Pub. L. 99-554, set out as a note under section 581 of
Title 28, Judiciary and Judicial Procedure.
Amendment by section 257 of Pub. L. 99-554 effective 30 days after
Oct. 27, 1986, but not applicable to cases commenced under this title
before that date, see section 302(a), (c)(1) of Pub. L. 99-554.
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.
Section Referred to in Other Sections
This section is referred to in sections 701, 703, 746, 1101, 1104,
1202, 1302 of this title; title 15 section 78eee.