Title 11 — BankruptcyRelease 119-73
§763 Treatment of accounts
Title 11 › Chapter CHAPTER 7— - LIQUIDATION › Subchapter SUBCHAPTER IV— - COMMODITY BROKER LIQUIDATION › § 763
Summary
Debtor must hold separate accounts for a customer when those accounts are in different roles, and a clearing member’s own account must be kept separate from its customers’ accounts. Customers' net equity cannot offset.
Full Legal Text
Title 11, §763
Bankruptcy — Source: USLM XML via OLRC
(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.
Legislative History
Notes & Related Subsidiaries
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.
Editorial Notes
Amendments
1984—Subsec. (a). Pub. L. 98–353 substituted “by the debtor for” for “by” and “treated as” for “deemed to be”.
Statutory Notes and Related Subsidiaries
Effective Date
of 1984 AmendmentAmendment 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.
Reference
Citations & Metadata
Citation
11 U.S.C. § 763
Title 11 — Bankruptcy
Last Updated
Apr 6, 2026
Release point: 119-73