Title 11BankruptcyRelease 119-73

§765 Customer instructions

Title 11 › Chapter CHAPTER 7— - LIQUIDATION › Subchapter SUBCHAPTER IV— - COMMODITY BROKER LIQUIDATION › § 765

Last updated Apr 6, 2026|Official source

Summary

The notice sent under section 342 must tell customers to file proof of their claim promptly and to identify any particular security, property, or commodity contract. It must also tell customers to tell the trustee how they want any identified commodity contract handled, including transfer under section 766 or liquidation. The trustee must follow a customer’s instructions as much as possible. If the trustee already transferred the contract under section 766, the trustee must send the customer’s instructions to the commodity broker who received it.

Full Legal Text

Title 11, §765

Bankruptcy — Source: USLM XML via OLRC

(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.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

For

Historical and Revision Notes

for this section, see

Historical and Revision Notes

set out under section 766 of this title.

Editorial Notes

Amendments

1984—Subsec. (a). Pub. L. 98–353 substituted “notice required by” for “notice under”. 1982—Subsec. (b). Pub. L. 97–222 substituted “commodity contract” for “commitment”.

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. § 765

Title 11Bankruptcy

Last Updated

Apr 6, 2026

Release point: 119-73