765. Customer instructions

Bookmarking and annotating the Code and Rules is a special benefit of ABI membership. Join ABI or take a Test Drive today, and start making the Code and Rules your own!

(a) The notice required by section 342 of this title to customers shall instruct each customer—
(1) to file a proof of such customer’s claim promptly, and to specify in such claim any specifically identifiable security, property, or commodity contract; and
(2) to instruct the trustee of such customer’s desired disposition, including transfer under section 766 of this title or liquidation, of any commodity contract specifically identified to such customer.
(b) The trustee shall comply, to the extent practicable, with any instruction received from a customer regarding such customer’s desired disposition of any commodity contract specifically identified to such customer. If the trustee has transferred, under section 766 of this title, such a commodity contract, the trustee shall transmit any such instruction to the commodity broker to whom such commodity contract was so transferred.

ABI Related Resources

Your trusted source for original insolvency articles and legislative updates.

Quality educational content from all ABI conferences.

30-day Trial

Learn more about Law.ABI.org