Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

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TITLE 11–BANKRUPTCY

CHAPTER 7–LIQUIDATION

Sub Chapter – Officers and Administration

Sec. 703. Successor trustee

   (a) If a trustee dies or resigns during a case, fails to qualify 
under section 322 of this title, or is removed under section 324 of this 
title, creditors may elect, in the manner specified in section 702 of 
this title, a person to fill the vacancy in the office of trustee.
    (b) Pending election of a trustee under subsection (a) of this 
section, if necessary to preserve or prevent loss to the estate, the 
United States trustee may appoint an interim trustee in the manner 
specified in section 701(a).
    (c) If creditors do not elect a successor trustee under subsection 
(a) of this section or if a trustee is needed in a case reopened under 
section 350 of this title, then the United States trustee--
        (1) shall appoint one disinterested person that is a member of 
    the panel of private trustees established under section 586(a)(1) of 
    title 28 to serve as trustee in the case; or
        (2) may, if none of the disinterested members of such panel is 
    willing to serve as trustee, serve as trustee in the case.

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2605; Pub. L. 98-353, title III, 
Sec. 473, July 10, 1984, 98 Stat. 381; Pub. L. 99-554, title II, 
Sec. 216, Oct. 27, 1986, 100 Stat. 3100.)


                      Historical and Revision Notes

                        senate report no. 95-989

    If the office of trustee becomes vacant during the case, this 
section makes provision for the selection of a successor trustee. The 
office might become vacant through death, resignation, removal, failure 
to qualify under section 322 by posting bond, or the reopening of a 
case. If it does, creditors may elect a successor in the same manner as 
they may elect a trustee under the previous section. Pending the 
election of a successor, the court may appoint an interim trustee in the 
usual manner if necessary to preserve or prevent loss to the estate. If 
creditors do not elect a successor, or if a trustee is needed in a 
reopened case, then the court appoints a disinterested member of the 
panel of private trustees to serve.


                               Amendments

    1986--Subsec. (b). Pub. L. 99-554 amended subsec. (b) generally, 
substituting ``the United States trustee may appoint'' for ``the court 
may appoint'' and ``manner specified in section 701(a)'' for ``manner 
and subject to the provisions of section 701 of this title''.
    Subsec. (c). Pub. L. 99-554 amended subsec. (c) generally, 
substituting ``this section or'' for ``this section, or'', ``then the 
United States trustee'' for ``then the court'', designating part of 
existing provisions as par. (1), and, as so designated, substituting 
``586(a)(1)'' for ``604(f)'', ``in the case; or'' for ``in the case.'', 
and adding par. (2).
    1984--Subsec. (b). Pub. L. 98-353 substituted ``and subject to the 
provisions of section 701 of this title'' for ``specified in section 
701(a) of this title. Sections 701(b) and 701(c) of this title apply to 
such interim trustee''.


                    Effective Date of 1986 Amendment

    Effective date and applicability of amendment by 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.


                    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 322, 557 of this title.



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