Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

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TITLE 11–BANKRUPTCY

CHAPTER 5–CREDITORS, THE DEBTOR, AND THE ESTATE

Sub Chapter – Creditors and Claims

Sec. 504. Sharing of compensation

 (a) Except as provided in subsection (b) of this section, a person 
receiving compensation or reimbursement under section 503(b)(2) or 
503(b)(4) of this title may not share or agree to share--
        (1) any such compensation or reimbursement with another person; 
    or
        (2) any compensation or reimbursement received by another person 
    under such sections.

    (b)(1) A member, partner, or regular associate in a professional 
association, corporation, or partnership may share compensation or 
reimbursement received under section 503(b)(2) or 503(b)(4) of this 
title with another member, partner, or regular associate in such 
association, corporation, or partnership, and may share in any 
compensation or reimbursement received under such sections by another 
member, partner, or regular associate in such association, corporation, 
or partnership.
    (2) An attorney for a creditor that files a petition under section 
303 of this title may share compensation and reimbursement received 
under section 503(b)(4) of this title with any other attorney 
contributing to the services rendered or expenses incurred by such 
creditor's attorney.

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2582.)


                      Historical and Revision Notes

                        senate report no. 95-989

    Section 504 prohibits the sharing of compensation, or fee splitting, 
among attorneys, other professionals, or trustees. The section provides 
only two exceptions: partners or associates in the same professional 
association, partnership, or corporation may share compensation inter 
se; and attorneys for petitioning creditors that join in a petition 
commencing an involuntary case may share compensation.

                  Section Referred to in Other Sections

    This section is referred to in section 901 of this title; title 15 
section 78fff.


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