Title 11 — BankruptcyRelease 119-73not60
§1203 Rights and Powers of Debtor
Title 11 › Chapter 12— ADJUSTMENT OF DEBTS OF A FAMILY FARMER OR FISHERMAN WITH REGULAR ANNUAL INCOME › Subchapter I— OFFICERS, ADMINISTRATION, AND THE ESTATE › § 1203
Summary
Unless the court sets limits, a debtor in possession has the same rights, powers, and duties as a trustee in a chapter 11 case. The debtor does not get compensation under section 330 and does not have the duties listed in paragraphs (3) and (4) of section 1106(a), and may operate the debtor’s farm or commercial fishing operation.
Full Legal Text
Title 11, §1203
Bankruptcy — Source: USLM XML via OLRC
Subject to such limitations as the court may prescribe, a debtor in possession shall have all the rights, other than the right to compensation under section 330, and powers, and shall perform all the functions and duties, except the duties specified in paragraphs (3) and (4) of section 1106(a), of a trustee serving in a case under chapter 11, including operating the debtor’s farm or commercial fishing operation.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification For repeal of section effective Oct. 1, 1998, and subsequent reenactment of section, see note set out preceding section 1201 of this title.
Amendments
2005—Pub. L. 109–8, § 1007(c)(2), inserted “or commercial fishing operation” after “farm”.
Statutory Notes and Related Subsidiaries
Effective Date
of 2005 AmendmentAmendment by section 1007(c)(2) of Pub. L. 109–8 effective 180 days after Apr. 20, 2005, and not applicable with respect to cases commenced under this title before such
Effective Date
, except as otherwise provided, see section 1501 of Pub. L. 109–8, set out as a note under section 101 of this title.
Effective Date
sPermanent reenactment of section effective July 1, 2005, see section 1001(a)(2) of Pub. L. 109–8, set out as a Repeal, Reenactment, and Termination of Chapter note under section 1201 of this title. For
Effective Date
s of section and
Amendments
extending periods for which section was reenacted prior to permanent reenactment, see
Effective Date
and
Effective Date
of 1999, 2001, 2002, 2003, and 2004 Amendment notes set out under section 1201 of this title.
Reference
Citations & Metadata
Citation
11 U.S.C. § 1203
Title 11 — Bankruptcy
Last Updated
Apr 3, 2026
Release point: 119-73not60