Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

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TITLE 11–BANKRUPTCY

CHAPTER 7–LIQUIDATION

Sub Chapter IV – Commodity Broker Liquidation

Sec. 763. Treatment of accounts

  (a) Accounts held by the debtor for a particular customer in 
separate capacities shall be treated as accounts of separate customers.
    (b) A member of a clearing organization shall be deemed to hold such 
member's proprietary account in a separate capacity from such member's 
customers' account.
    (c) The net equity in a customer's account may not be offset against 
the net equity in the account of any other customer.

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2618; Pub. L. 98-353, title III, 
Sec. 486, July 10, 1984, 98 Stat. 383.)


                      Historical and Revision Notes

                        senate report no. 95-989

    Section 763 provides for separate treatment of accounts held in 
separate capacities. A deficit in one account held for a customer may 
not be offset against the net equity in another account held by the same 
customer in a separate capacity or held by another customer.


                               Amendments

    1984--Subsec. (a). Pub. L. 98-353 substituted ``by the debtor for'' 
for ``by'' and ``treated as'' for ``deemed to be''.


                    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.



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Note: For affordable legal assistance The Center For Debt Management highly recommends Standard Legal's Do-It-Yourself Bankruptcy Forms Software Kits. For credit repair services,
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For more bankruptcy help and bankruptcy alternatives, go to Bankruptcy Resources

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