PRIA Logo™
Title 11 — BankruptcyRelease 119-73not60

§765 Customer Instructions

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

Last updated Apr 3, 2026|Official source

Summary

Notices must tell customers to file a proof of claim promptly, name assets, and instruct the trustee whether a named commodity contract should be transferred under the transfer rule or liquidated. The trustee must, as much as possible, follow those instructions and, if the contract was transferred, forward them to the broker.

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 11 — Bankruptcy

Last Updated

Apr 3, 2026

Release point: 119-73not60