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.
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.