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► 11 U.S.C. § 744 11 u.s.c. · liquidation · title 11
11 U.S.C. § 744
Executory contracts
Title 11 USC
● ACTIVE
Ch. 7
Jurisdiction Federal — United States
Chapter LIQUIDATION
Primary Source uscode.house.gov ↗
Federation ID OM-USC11-SEC-7FFA70
► STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 11 - BANKRUPTCY 11 U.S.C. United States Code, 2023 Edition Title 11 - BANKRUPTCY CHAPTER 7 - LIQUIDATION SUBCHAPTER III - STOCKBROKER LIQUIDATION Sec. 744 - Executory contracts From the U.S. Government Publishing Office, www.gpo.gov

§744. Executory contracts

Notwithstanding section 365(d)(1) of this title, the trustee shall assume or reject, under section 365 of this title, any executory contract of the debtor for the purchase or sale of a security in the ordinary course of the debtor's business, within a reasonable time after the date of the order for relief, but not to exceed 30 days. If the trustee does not assume such a contract within such time, such contract is rejected.

(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2613; Pub. L. 97–222, §10, July 27, 1982, 96 Stat. 238.)

Historical and Revision Notes senate report no. 95–989 Section 744 instructs the court to give the trustee a reasonable time, not to exceed 30 days, to assume or reject any executory contract of the stockbroker to buy or sell securities. Any contract not assumed within the time fixed by the court is considered to be rejected.

Editorial Notes

Amendments 1982—Pub. L. 97–222 inserted "but" after "relief,".

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The statutory text of 11 U.S.C. § 744 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Chapter 7 — LIQUIDATION
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11 U.S.C.
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11 U.S.C. § 744
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Bankruptcy
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Bankruptcy — 11 U.S.C. § 744