US (United States) Code. Title 11. Chapter 12: Adjustment of debts of a family farmer with regular annual income

Codificación normativa de EEUU (Estados Unidos). Legislación federal estadounidense # Bankruptcy

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-CITE-

11 USC CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY

FARMER WITH REGULAR ANNUAL INCOME 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

.

-HEAD-

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

-MISC1-

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

Sec.

1201. Stay of action against codebtor.

1202. Trustee.

1203. Rights and powers of debtor.

1204. Removal of debtor as debtor in possession.

1205. Adequate protection.

1206. Sales free of interests.

1207. Property of the estate.

1208. Conversion or dismissal.

SUBCHAPTER II - THE PLAN

1221. Filing of plan.

1222. Contents of plan.

1223. Modification of plan before confirmation.

1224. Confirmation hearing.

1225. Confirmation of plan.

1226. Payments.

1227. Effect of confirmation.

1228. Discharge.

1229. Modification of plan after confirmation.

1230. Revocation of an order of confirmation.

1231. Special tax provisions.

TERMINATION OF CHAPTER

For termination of reenactment of this chapter by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

Chapter repealed effective Oct. 1, 1998, by Pub. L. 99-554, title

III, Sec. 302(f), Oct. 27, 1986, 100 Stat. 3124, as amended by Pub.

L. 103-65, Sec. 1, Aug. 6, 1993, 107 Stat. 311. Chapter, as in

effect on Sept. 30, 1998, reenacted by Pub. L. 105-277, div. C,

title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610, for the

period beginning on Oct. 1, 1998, and ending on Apr. 1, 1999. Pub.

L. 105-277, Sec. 149(a), as subsequently amended by Pub. L. 106-5,

Pub. L. 106-70, Pub. L. 107-8, Pub. L. 107-17, Pub. L. 107-170,

Pub. L. 107-171, and Pub. L. 107-377, provided that this chapter,

as in effect on Dec. 31, 2002, is reenacted for the period

beginning on Jan. 1, 2003, and ending on July 1, 2003. See Repeal,

Reenactment, and Termination of Chapter note set out under section

1201 of this title.

-SECREF-

CHAPTER REFERRED TO IN OTHER SECTIONS

This chapter is referred to in sections 101, 103, 109, 321, 326,

327, 329, 330, 346, 347, 362, 363, 365, 502, 706, 1106, 1112, 1306,

1307 of this title; title 7 sections 2005, 2008h; title 20 section

1087; title 28 sections 157, 586, 1930.

-CITE-

11 USC SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE

ESTATE 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

.

-HEAD-

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

-CITE-

11 USC Sec. 1201 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

-HEAD-

Sec. 1201. Stay of action against codebtor

-STATUTE-

(a) Except as provided in subsections (b) and (c) of this

section, after the order for relief under this chapter, a creditor

may not act, or commence or continue any civil action, to collect

all or any part of a consumer debt of the debtor from any

individual that is liable on such debt with the debtor, or that

secured such debt, unless -

(1) such individual became liable on or secured such debt in

the ordinary course of such individual's business; or

(2) the case is closed, dismissed, or converted to a case under

chapter 7 of this title.

(b) A creditor may present a negotiable instrument, and may give

notice of dishonor of such an instrument.

(c) On request of a party in interest and after notice and a

hearing, the court shall grant relief from the stay provided by

subsection (a) of this section with respect to a creditor, to the

extent that -

(1) as between the debtor and the individual protected under

subsection (a) of this section, such individual received the

consideration for the claim held by such creditor;

(2) the plan filed by the debtor proposes not to pay such

claim; or

(3) such creditor's interest would be irreparably harmed by

continuation of such stay.

(d) Twenty days after the filing of a request under subsection

(c)(2) of this section for relief from the stay provided by

subsection (a) of this section, such stay is terminated with

respect to the party in interest making such request, unless the

debtor or any individual that is liable on such debt with the

debtor files and serves upon such party in interest a written

objection to the taking of the proposed action.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3105, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note below.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-MISC3-

EFFECTIVE DATE OF 2002 AMENDMENTS

Pub. L. 107-377, Sec. 2(b), Dec. 19, 2002, 116 Stat. 3115,

provided that: ''The amendments made by subsection (a) (amending

this section and sections 1202 to 1208 and 1221 to 1231 of this

title and amending provisions set out as a note under this section)

shall take effect on January 1, 2003.''

Pub. L. 107-171, title X, Sec. 10814(b), May 13, 2002, 116 Stat.

532, provided that: ''The amendments made by subsection (a)

(amending this section and sections 1202 to 1208 and 1221 to 1231

of this title and amending provisions set out as a note under this

section) shall take effect on June 1, 2002.''

Pub. L. 107-170, Sec. 2, May 7, 2002, 116 Stat. 133, provided

that: ''The amendments made by section 1 (amending this section and

sections 1202 to 1208 and 1221 to 1231 of this title and amending

provisions set out as a note under this section) shall take effect

on October 1, 2001.''

EFFECTIVE DATE OF 2001 AMENDMENTS

Pub. L. 107-17, Sec. 2, June 26, 2001, 115 Stat. 151, provided

that: ''The amendments made by section 1 (amending this section and

sections 1202 to 1208 and 1221 to 1231 of this title and amending

provisions set out as a note under this section) shall take effect

on June 1, 2001.''

Pub. L. 107-8, Sec. 2, May 11, 2001, 115 Stat. 10, provided that:

''The amendments made by section 1 (amending this section and

sections 1202 to 1208 and 1221 to 1231 of this title and amending

provisions set out as a note under this section) shall take effect

on July 1, 2000.''

EFFECTIVE DATE OF 1999 AMENDMENTS

Pub. L. 106-70, Sec. 2, Oct. 9, 1999, 113 Stat. 1031, provided

that: ''The amendments made by section 1 (amending this section and

sections 1202 to 1208 and 1221 to 1231 of this title and amending

provisions set out as a note under this section) shall take effect

on October 1, 1999.''

Pub. L. 106-5, Sec. 2, Mar. 30, 1999, 113 Stat. 9, provided that:

''The amendments made by section 1 (amending this section and

sections 1202 to 1208 and 1221 to 1231 of this title and amending

provisions set out as a note under this section) shall take effect

on April 1, 1999.''

EFFECTIVE DATE

Chapter effective 30 days after Oct. 27, 1986, but not applicable

to cases commenced under this title before that date, see section

302(a), (c)(1) of Pub. L. 99-554, set out as a note under section

581 of Title 28, Judiciary and Judicial Procedure.

REPEAL, REENACTMENT, AND TERMINATION OF CHAPTER

Pub. L. 105-277, div. C, title I, Sec. 149, Oct. 21, 1998, 112

Stat. 2681-610, as amended by Pub. L. 106-5, Sec. 1, Mar. 30, 1999,

113 Stat. 9; Pub. L. 106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031;

Pub. L. 107-8, Sec. 1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17,

Sec. 1, June 26, 2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May

7, 2002, 116 Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a),

May 13, 2002, 116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19,

2002, 116 Stat. 3115, provided that:

''(a) Chapter 12 of title 11 of the United States Code, as in

effect on December 31, 2002, is hereby reenacted for the period

beginning on January 1, 2003, and ending on July 1, 2003.

''(b) All cases commenced or pending under chapter 12 of title

11, United States Code, as reenacted under subsection (a), and all

matters and proceedings in or relating to such cases, shall be

conducted and determined under such chapter as if such chapter were

continued in effect after July 1, 2003. The substantive rights of

parties in connection with such cases, matters, and proceedings

shall continue to be governed under the laws applicable to such

cases, matters, and proceedings as if such chapter were continued

in effect after July 1, 2003.''

Chapter repealed Oct. 1, 1998, except that cases commenced or

pending under this chapter, and all matters and proceedings in or

relating to such cases, are to be conducted and determined as if

this chapter had not been repealed, and substantive rights of

parties in connection with such cases, matters, and proceedings are

to continue to be governed under the laws applicable to such cases,

matters, and proceedings as if this chapter had not been repealed,

see section 302(f) of Pub. L. 99-554, as amended, set out in an

Effective Date of 1986 Amendment note under section 581 of Title

28, Judiciary and Judicial Procedure.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 106, 108, 348 of this

title.

-CITE-

11 USC Sec. 1202 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

-HEAD-

Sec. 1202. Trustee

-STATUTE-

(a) If the United States trustee has appointed an individual

under section 586(b) of title 28 to serve as standing trustee in

cases under this chapter and if such individual qualifies as a

trustee under section 322 of this title, then such individual shall

serve as trustee in any case filed under this chapter. Otherwise,

the United States trustee shall appoint one disinterested person to

serve as trustee in the case or the United States trustee may serve

as trustee in the case if necessary.

(b) The trustee shall -

(1) perform the duties specified in sections 704(2), 704(3),

704(5), 704(6), 704(7), and 704(9) of this title;

(2) perform the duties specified in section 1106(a)(3) and

1106(a)(4) of this title if the court, for cause and on request

of a party in interest, the trustee, or the United States

trustee, so orders;

(3) appear and be heard at any hearing that concerns -

(A) the value of property subject to a lien;

(B) confirmation of a plan;

(C) modification of the plan after confirmation; or

(D) the sale of property of the estate;

(4) ensure that the debtor commences making timely payments

required by a confirmed plan; and

(5) if the debtor ceases to be a debtor in possession, perform

the duties specified in sections 704(8), 1106(a)(1), 1106(a)(2),

1106(a)(6), 1106(a)(7), and 1203.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 227, 255, title

III, Sec. 302(f), Oct. 27, 1986, 100 Stat. 3103, 3106, 3124; Pub.

L. 105-277, div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat.

2681-610; Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat.

9; Pub. L. 106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L.

107-8, Sec. 1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1,

June 26, 2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002,

116 Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13,

2002, 116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116

Stat. 3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-MISC3-

AMENDMENTS

1986 - Subsecs. (c), (d). Pub. L. 99-554, Sec. 227, struck out

subsecs. (c) and (d) which read as follows:

''(c) If the number of cases under this chapter commenced in a

particular judicial district so warrants, the court may appoint one

or more individuals to serve as standing trustee for such district

in cases under this chapter.

''(d)(1) A court that has appointed an individual under

subsection (a) of this section to serve as standing trustee in

cases under this chapter shall set for such individual -

''(A) a maximum annual compensation not to exceed the lowest

annual rate of basic pay in effect for grade GS-16 of the General

Schedule prescribed under section 5332 of title 5; and

''(B) a percentage fee not to exceed the sum of -

''(i) not to exceed ten percent of the payments made under

the plan of such debtor, with respect to payments in an

aggregate amount not to exceed $450,000; and

''(ii) three percent of payments made under the plan of such

debtor, with respect to payments made after the aggregate

amount of payments made under the plan exceeds $450,000;

based on such maximum annual compensation and the actual,

necessary expenses incurred by such individual as standing

trustee.

''(2) Such individual shall collect such percentage fee from all

payments under plans in the cases under this chapter for which such

individual serves as standing trustee. Such individual shall pay

annually to the Treasury -

''(A) any amount by which the actual compensation received by

such individual exceeds five percent of all such payments made

under plans in cases under this chapter for which such individual

serves as standing trustee; and

''(B) any amount by which the percentage fee fixed under

paragraph (1)(B) of this subsection for all such cases exceeds -

''(i) such individual's actual compensation for such cases,

as adjusted under subparagraph (A) of this paragraph; plus

''(ii) the actual, necessary expenses incurred by such

individual as standing trustee in such cases.''

See section 586(b) and (e) of Title 28, Judiciary and Judicial

Procedure.

EFFECTIVE DATE

Section effective 30 days after Oct. 27, 1986, and before the

amendment by section 227 of Pub. L. 99-554, see section 302(c)(2)

of Pub. L. 99-554, set out as an Effective Date of 1986 Amendment

note under section 581 of Title 28, Judiciary and Judicial

Procedure.

Effective date and applicability of amendment by section 227 of

Pub. L. 99-554 dependent upon the judicial district involved, see

section 302(d), (e) of Pub. L. 99-554.

REFERENCES IN SUBSECTION (A) TEMPORARILY DEEMED TO BE REFERENCES TO

OTHER PROVISIONS

Until the amendments made by subtitle A (Sec. 201 to 231) of

title II of Pub. L. 99-554 become effective in a district and apply

to a case, in subsec. (a) of this section -

(1) the first two references to the United States trustee are

deemed to be references to the court, and

(2) any reference to section 586(b) of Title 28, Judiciary and

Judicial Procedure, is deemed to be a reference to subsec. (c) of

this section,

see section 302(c)(3)(B), (d), (e) of Pub. L. 99-554, set out as an

Effective Date note under section 581 of Title 28.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 322, 326, 327, 546, 557,

1226 of this title.

-CITE-

11 USC Sec. 1203 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

-HEAD-

Sec. 1203. Rights and powers of debtor

-STATUTE-

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.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3107, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 106, 363, 364, 1202 of

this title.

-CITE-

11 USC Sec. 1204 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

-HEAD-

Sec. 1204. Removal of debtor as debtor in possession

-STATUTE-

(a) On request of a party in interest, and after notice and a

hearing, the court shall order that the debtor shall not be a

debtor in possession for cause, including fraud, dishonesty,

incompetence, or gross mismanagement of the affairs of the debtor,

either before or after the commencement of the case.

(b) On request of a party in interest, and after notice and a

hearing, the court may reinstate the debtor in possession.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3107, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 363, 364, 1207 of this

title.

-CITE-

11 USC Sec. 1205 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

-HEAD-

Sec. 1205. Adequate protection

-STATUTE-

(a) Section 361 does not apply in a case under this chapter.

(b) In a case under this chapter, when adequate protection is

required under section 362, 363, or 364 of this title of an

interest of an entity in property, such adequate protection may be

provided by -

(1) requiring the trustee to make a cash payment or periodic

cash payments to such entity, to the extent that the stay under

section 362 of this title, use, sale, or lease under section 363

of this title, or any grant of a lien under section 364 of this

title results in a decrease in the value of property securing a

claim or of an entity's ownership interest in property;

(2) providing to such entity an additional or replacement lien

to the extent that such stay, use, sale, lease, or grant results

in a decrease in the value of property securing a claim or of an

entity's ownership interest in property;

(3) paying to such entity for the use of farmland the

reasonable rent customary in the community where the property is

located, based upon the rental value, net income, and earning

capacity of the property; or

(4) granting such other relief, other than entitling such

entity to compensation allowable under section 503(b)(1) of this

title as an administrative expense, as will adequately protect

the value of property securing a claim or of such entity's

ownership interest in property.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3107, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 106 of this title.

-CITE-

11 USC Sec. 1206 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

-HEAD-

Sec. 1206. Sales free of interests

-STATUTE-

After notice and a hearing, in addition to the authorization

contained in section 363(f), the trustee in a case under this

chapter may sell property under section 363(b) and (c) free and

clear of any interest in such property of an entity other than the

estate if the property is farmland or farm equipment, except that

the proceeds of such sale shall be subject to such interest.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3108, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 106 of this title.

-CITE-

11 USC Sec. 1207 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

-HEAD-

Sec. 1207. Property of the estate

-STATUTE-

(a) Property of the estate includes, in addition to the property

specified in section 541 of this title -

(1) all property of the kind specified in such section that the

debtor acquires after the commencement of the case but before the

case is closed, dismissed, or converted to a case under chapter 7

of this title, whichever occurs first; and

(2) earnings from services performed by the debtor after the

commencement of the case but before the case is closed,

dismissed, or converted to a case under chapter 7 of this title,

whichever occurs first.

(b) Except as provided in section 1204, a confirmed plan, or an

order confirming a plan, the debtor shall remain in possession of

all property of the estate.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3108, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1230 of this title.

-CITE-

11 USC Sec. 1208 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER I - OFFICERS, ADMINISTRATION, AND THE ESTATE

-HEAD-

Sec. 1208. Conversion or dismissal

-STATUTE-

(a) The debtor may convert a case under this chapter to a case

under chapter 7 of this title at any time. Any waiver of the right

to convert under this subsection is unenforceable.

(b) On request of the debtor at any time, if the case has not

been converted under section 706 or 1112 of this title, the court

shall dismiss a case under this chapter. Any waiver of the right

to dismiss under this subsection is unenforceable.

(c) On request of a party in interest, and after notice and a

hearing, the court may dismiss a case under this chapter for cause,

including -

(1) unreasonable delay, or gross mismanagement, by the debtor

that is prejudicial to creditors;

(2) nonpayment of any fees and charges required under chapter

123 of title 28;

(3) failure to file a plan timely under section 1221 of this

title;

(4) failure to commence making timely payments required by a

confirmed plan;

(5) denial of confirmation of a plan under section 1225 of this

title and denial of a request made for additional time for filing

another plan or a modification of a plan;

(6) material default by the debtor with respect to a term of a

confirmed plan;

(7) revocation of the order of confirmation under section 1230

of this title, and denial of confirmation of a modified plan

under section 1229 of this title;

(8) termination of a confirmed plan by reason of the occurrence

of a condition specified in the plan; or

(9) continuing loss to or diminution of the estate and absence

of a reasonable likelihood of rehabilitation.

(d) On request of a party in interest, and after notice and a

hearing, the court may dismiss a case under this chapter or convert

a case under this chapter to a case under chapter 7 of this title

upon a showing that the debtor has committed fraud in connection

with the case.

(e) Notwithstanding any other provision of this section, a case

may not be converted to a case under another chapter of this title

unless the debtor may be a debtor under such chapter.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3108, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 348, 365, 706, 726, 728,

1307 of this title.

-CITE-

11 USC SUBCHAPTER II - THE PLAN 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

.

-HEAD-

SUBCHAPTER II - THE PLAN

-CITE-

11 USC Sec. 1221 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1221. Filing of plan

-STATUTE-

The debtor shall file a plan not later than 90 days after the

order for relief under this chapter, except that the court may

extend such period if the need for an extension is attributable to

circumstances for which the debtor should not justly be held

accountable.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3109, 3124; Pub. L. 103-65,

Sec. 2, Aug. 6, 1993, 107 Stat. 311; Pub. L. 105-277, div. C,

title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610; Pub. L.

106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L. 106-70,

Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec. 1, May

11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26, 2001, 115

Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116 Stat. 133;

Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002, 116 Stat.

532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat. 3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-MISC3-

AMENDMENTS

1993 - Pub. L. 103-65 substituted ''the need for an extension is

attributable to circumstances for which the debtor should not

justly be held accountable'' for ''an extension is substantially

justified''.

EFFECTIVE DATE OF 1993 AMENDMENT

Section 3 of Pub. L. 103-65 provided that:

''(a) Effective Date. - Except as provided in subsection (b),

this Act (amending this section and provisions set out as a note

under section 581 of Title 28, Judiciary and Judicial Procedure)

and the amendments made by this Act shall take effect on the date

of the enactment of this Act (Aug. 6, 1993).

''(b) Application of Amendment Made by Section 2. - The amendment

made by section 2 (amending this section) shall not apply with

respect to cases commenced under title 11 of the United States Code

before the date of the enactment of this Act.''

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 348, 1208 of this title.

-CITE-

11 USC Sec. 1222 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1222. Contents of plan

-STATUTE-

(a) The plan shall -

(1) provide for the submission of all or such portion of future

earnings or other future income of the debtor to the supervision

and control of the trustee as is necessary for the execution of

the plan;

(2) provide for the full payment, in deferred cash payments, of

all claims entitled to priority under section 507 of this title,

unless the holder of a particular claim agrees to a different

treatment of such claim; and

(3) if the plan classifies claims and interests, provide the

same treatment for each claim or interest within a particular

class unless the holder of a particular claim or interest agrees

to less favorable treatment.

(b) Subject to subsections (a) and (c) of this section, the plan

may -

(1) designate a class or classes of unsecured claims, as

provided in section 1122 of this title, but may not discriminate

unfairly against any class so designated; however, such plan may

treat claims for a consumer debt of the debtor if an individual

is liable on such consumer debt with the debtor differently than

other unsecured claims;

(2) modify the rights of holders of secured claims, or of

holders of unsecured claims, or leave unaffected the rights of

holders of any class of claims;

(3) provide for the curing or waiving of any default;

(4) provide for payments on any unsecured claim to be made

concurrently with payments on any secured claim or any other

unsecured claim;

(5) provide for the curing of any default within a reasonable

time and maintenance of payments while the case is pending on any

unsecured claim or secured claim on which the last payment is due

after the date on which the final payment under the plan is due;

(6) subject to section 365 of this title, provide for the

assumption, rejection, or assignment of any executory contract or

unexpired lease of the debtor not previously rejected under such

section;

(7) provide for the payment of all or part of a claim against

the debtor from property of the estate or property of the debtor;

(8) provide for the sale of all or any part of the property of

the estate or the distribution of all or any part of the property

of the estate among those having an interest in such property;

(9) provide for payment of allowed secured claims consistent

with section 1225(a)(5) of this title, over a period exceeding

the period permitted under section 1222(c);

(10) provide for the vesting of property of the estate, on

confirmation of the plan or at a later time, in the debtor or in

any other entity; and

(11) include any other appropriate provision not inconsistent

with this title.

(c) Except as provided in subsections (b)(5) and (b)(9), the plan

may not provide for payments over a period that is longer than

three years unless the court for cause approves a longer period,

but the court may not approve a period that is longer than five

years.

(d) Notwithstanding subsection (b)(2) of this section and

sections 506(b) and 1225(a)(5) of this title, if it is proposed in

a plan to cure a default, the amount necessary to cure the default,

shall be determined in accordance with the underlying agreement and

applicable nonbankruptcy law.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3109, 3124; Pub. L. 103-394,

title III, Sec. 305(b), Oct. 22, 1994, 108 Stat. 4134; Pub. L.

105-277, div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat.

2681-610; Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat.

9; Pub. L. 106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L.

107-8, Sec. 1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1,

June 26, 2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002,

116 Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13,

2002, 116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116

Stat. 3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-MISC3-

AMENDMENTS

1994 - Subsec. (d). Pub. L. 103-394 added subsec. (d).

EFFECTIVE DATE OF 1994 AMENDMENT

Amendment by Pub. L. 103-394 effective Oct. 22, 1994, and

applicable only to agreements entered into after Oct. 22, 1994, see

section 702 of Pub. L. 103-394, set out as a note under section 101

of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1223, 1225, 1228, 1229 of

this title.

-CITE-

11 USC Sec. 1223 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1223. Modification of plan before confirmation

-STATUTE-

(a) The debtor may modify the plan at any time before

confirmation, but may not modify the plan so that the plan as

modified fails to meet the requirements of section 1222 of this

title.

(b) After the debtor files a modification under this section, the

plan as modified becomes the plan.

(c) Any holder of a secured claim that has accepted or rejected

the plan is deemed to have accepted or rejected, as the case may

be, the plan as modified, unless the modification provides for a

change in the rights of such holder from what such rights were

under the plan before modification, and such holder changes such

holder's previous acceptance or rejection.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3110, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1229 of this title.

-CITE-

11 USC Sec. 1224 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1224. Confirmation hearing

-STATUTE-

After expedited notice, the court shall hold a hearing on

confirmation of the plan. A party in interest, the trustee, or the

United States trustee may object to the confirmation of the plan.

Except for cause, the hearing shall be concluded not later than 45

days after the filing of the plan.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3110, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in title 28 section 586.

-CITE-

11 USC Sec. 1225 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1225. Confirmation of plan

-STATUTE-

(a) Except as provided in subsection (b), the court shall confirm

a plan if -

(1) the plan complies with the provisions of this chapter and

with the other applicable provisions of this title;

(2) any fee, charge, or amount required under chapter 123 of

title 28, or by the plan, to be paid before confirmation, has

been paid;

(3) the plan has been proposed in good faith and not by any

means forbidden by law;

(4) the value, as of the effective date of the plan, of

property to be distributed under the plan on account of each

allowed unsecured claim is not less than the amount that would be

paid on such claim if the estate of the debtor were liquidated

under chapter 7 of this title on such date;

(5) with respect to each allowed secured claim provided for by

the plan -

(A) the holder of such claim has accepted the plan;

(B)(i) the plan provides that the holder of such claim retain

the lien securing such claim; and

(ii) the value, as of the effective date of the plan, of

property to be distributed by the trustee or the debtor under

the plan on account of such claim is not less than the allowed

amount of such claim; or

(C) the debtor surrenders the property securing such claim to

such holder; and

(6) the debtor will be able to make all payments under the plan

and to comply with the plan.

(b)(1) If the trustee or the holder of an allowed unsecured claim

objects to the confirmation of the plan, then the court may not

approve the plan unless, as of the effective date of the plan -

(A) the value of the property to be distributed under the plan

on account of such claim is not less than the amount of such

claim; or

(B) the plan provides that all of the debtor's projected

disposable income to be received in the three-year period, or

such longer period as the court may approve under section

1222(c), beginning on the date that the first payment is due

under the plan will be applied to make payments under the plan.

(2) For purposes of this subsection, ''disposable income'' means

income which is received by the debtor and which is not reasonably

necessary to be expended -

(A) for the maintenance or support of the debtor or a dependent

of the debtor; or

(B) for the payment of expenditures necessary for the

continuation, preservation, and operation of the debtor's

business.

(c) After confirmation of a plan, the court may order any entity

from whom the debtor receives income to pay all or any part of such

income to the trustee.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3110, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 347, 1208, 1222, 1229,

1230, 1231 of this title.

-CITE-

11 USC Sec. 1226 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1226. Payments

-STATUTE-

(a) Payments and funds received by the trustee shall be retained

by the trustee until confirmation or denial of confirmation of a

plan. If a plan is confirmed, the trustee shall distribute any

such payment in accordance with the plan. If a plan is not

confirmed, the trustee shall return any such payments to the

debtor, after deducting -

(1) any unpaid claim allowed under section 503(b) of this

title; and

(2) if a standing trustee is serving in the case, the

percentage fee fixed for such standing trustee.

(b) Before or at the time of each payment to creditors under the

plan, there shall be paid -

(1) any unpaid claim of the kind specified in section 507(a)(1)

of this title; and

(2) if a standing trustee appointed under section 1202(c)

(FOOTNOTE 1) of this title is serving in the case, the percentage

fee fixed for such standing trustee under section 1202(d)

(FOOTNOTE 1) of this title.

(FOOTNOTE 1) See References in Text note below.

(c) Except as otherwise provided in the plan or in the order

confirming the plan, the trustee shall make payments to creditors

under the plan.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3111, 3124; Pub. L. 103-394,

title V, Sec. 501(d)(36), Oct. 22, 1994, 108 Stat. 4147; Pub. L.

105-277, div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat.

2681-610; Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat.

9; Pub. L. 106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L.

107-8, Sec. 1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1,

June 26, 2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002,

116 Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13,

2002, 116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116

Stat. 3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-REFTEXT-

REFERENCES IN TEXT

Section 1202(c) and (d) of this title, referred to in subsec.

(b)(2), was repealed by section 227 of Pub. L. 99-554, and

provisions relating to appointment of and fixing percentage fees

for standing trustees are contained in section 586(b) and (e) of

Title 28, Judiciary and Judicial Procedure, as amended by section

113(b), (c) of Pub. L. 99-554.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-MISC3-

AMENDMENTS

1994 - Subsec. (b)(2). Pub. L. 103-394 substituted ''1202(c)''

for ''1202(d)'' and ''1202(d)'' for ''1202(e)''.

EFFECTIVE DATE OF 1994 AMENDMENT

Amendment by Pub. L. 103-394 effective Oct. 22, 1994, and not

applicable with respect to cases commenced under this title before

Oct. 22, 1994, see section 702 of Pub. L. 103-394, set out as a

note under section 101 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 347 of this title.

-CITE-

11 USC Sec. 1227 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1227. Effect of confirmation

-STATUTE-

(a) Except as provided in section 1228(a) of this title, the

provisions of a confirmed plan bind the debtor, each creditor, each

equity security holder, and each general partner in the debtor,

whether or not the claim of such creditor, such equity security

holder, or such general partner in the debtor is provided for by

the plan, and whether or not such creditor, such equity security

holder, or such general partner in the debtor has objected to, has

accepted, or has rejected the plan.

(b) Except as otherwise provided in the plan or the order

confirming the plan, the confirmation of a plan vests all of the

property of the estate in the debtor.

(c) Except as provided in section 1228(a) of this title and

except as otherwise provided in the plan or in the order confirming

the plan, the property vesting in the debtor under subsection (b)

of this section is free and clear of any claim or interest of any

creditor provided for by the plan.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3112, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 106 of this title.

-CITE-

11 USC Sec. 1228 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1228. Discharge

-STATUTE-

(a) As soon as practicable after completion by the debtor of all

payments under the plan, other than payments to holders of allowed

claims provided for under section 1222(b)(5) or 1222(b)(9) of this

title, unless the court approves a written waiver of discharge

executed by the debtor after the order for relief under this

chapter, the court shall grant the debtor a discharge of all debts

provided for by the plan allowed under section 503 of this title or

disallowed under section 502 of this title, except any debt -

(1) provided for under section 1222(b)(5) or 1222(b)(9) of this

title; or

(2) of the kind specified in section 523(a) of this title.

(b) At any time after the confirmation of the plan and after

notice and a hearing, the court may grant a discharge to a debtor

that has not completed payments under the plan only if -

(1) the debtor's failure to complete such payments is due to

circumstances for which the debtor should not justly be held

accountable;

(2) the value, as of the effective date of the plan, of

property actually distributed under the plan on account of each

allowed unsecured claim is not less than the amount that would

have been paid on such claim if the estate of the debtor had been

liquidated under chapter 7 of this title on such date; and

(3) modification of the plan under section 1229 of this title

is not practicable.

(c) A discharge granted under subsection (b) of this section

discharges the debtor from all unsecured debts provided for by the

plan or disallowed under section 502 of this title, except any debt

-

(1) provided for under section 1222(b)(5) or 1222(b)(9) of this

title; or

(2) of a kind specified in section 523(a) of this title.

(d) On request of a party in interest before one year after a

discharge under this section is granted, and after notice and a

hearing, the court may revoke such discharge only if -

(1) such discharge was obtained by the debtor through fraud;

and

(2) the requesting party did not know of such fraud until after

such discharge was granted.

(e) After the debtor is granted a discharge, the court shall

terminate the services of any trustee serving in the case.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3112, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 106-518,

title II, Sec. 208, Nov. 13, 2000, 114 Stat. 2415; Pub. L. 107-8,

Sec. 1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June

26, 2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-MISC3-

AMENDMENTS

2000 - Subsecs. (a), (c)(1). Pub. L. 106-518 substituted

''1222(b)(9)'' for ''1222(b)(10)'' wherever appearing.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 348, 523, 524, 727, 1227

of this title.

-CITE-

11 USC Sec. 1229 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1229. Modification of plan after confirmation

-STATUTE-

(a) At any time after confirmation of the plan but before the

completion of payments under such plan, the plan may be modified,

on request of the debtor, the trustee, or the holder of an allowed

unsecured claim, to -

(1) increase or reduce the amount of payments on claims of a

particular class provided for by the plan;

(2) extend or reduce the time for such payments; or

(3) alter the amount of the distribution to a creditor whose

claim is provided for by the plan to the extent necessary to take

account of any payment of such claim other than under the plan.

(b)(1) Sections 1222(a), 1222(b), and 1223(c) of this title and

the requirements of section 1225(a) of this title apply to any

modification under subsection (a) of this section.

(2) The plan as modified becomes the plan unless, after notice

and a hearing, such modification is disapproved.

(c) A plan modified under this section may not provide for

payments over a period that expires after three years after the

time that the first payment under the original confirmed plan was

due, unless the court, for cause, approves a longer period, but the

court may not approve a period that expires after five years after

such time.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3113, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1208, 1228, 1230 of this

title; title 28 section 586.

-CITE-

11 USC Sec. 1230 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1230. Revocation of an order of confirmation

-STATUTE-

(a) On request of a party in interest at any time within 180 days

after the date of the entry of an order of confirmation under

section 1225 of this title, and after notice and a hearing, the

court may revoke such order if such order was procured by fraud.

(b) If the court revokes an order of confirmation under

subsection (a) of this section, the court shall dispose of the case

under section 1207 of this title, unless, within the time fixed by

the court, the debtor proposes and the court confirms a

modification of the plan under section 1229 of this title.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3113, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1208 of this title.

-CITE-

11 USC Sec. 1231 01/06/03

-EXPCITE-

TITLE 11 - BANKRUPTCY

CHAPTER 12 - ADJUSTMENT OF DEBTS OF A FAMILY FARMER WITH REGULAR

ANNUAL INCOME

SUBCHAPTER II - THE PLAN

-HEAD-

Sec. 1231. Special tax provisions

-STATUTE-

(a) For the purpose of any State or local law imposing a tax on

or measured by income, the taxable period of a debtor that is an

individual shall terminate on the date of the order for relief

under this chapter, unless the case was converted under section 706

of this title.

(b) The trustee shall make a State or local tax return of income

for the estate of an individual debtor in a case under this chapter

for each taxable period after the order for relief under this

chapter during which the case is pending.

(c) The issuance, transfer, or exchange of a security, or the

making or delivery of an instrument of transfer under a plan

confirmed under section 1225 of this title, may not be taxed under

any law imposing a stamp tax or similar tax.

(d) The court may authorize the proponent of a plan to request a

determination, limited to questions of law, by a State or local

governmental unit charged with responsibility for collection or

determination of a tax on or measured by income, of the tax

effects, under section 346 of this title and under the law imposing

such tax, of the plan. In the event of an actual controversy, the

court may declare such effects after the earlier of -

(1) the date on which such governmental unit responds to the

request under this subsection; or

(2) 270 days after such request.

-SOURCE-

(Added and amended Pub. L. 99-554, title II, Sec. 255, title III,

Sec. 302(f), Oct. 27, 1986, 100 Stat. 3113, 3124; Pub. L. 105-277,

div. C, title I, Sec. 149(a), Oct. 21, 1998, 112 Stat. 2681-610;

Pub. L. 106-5, Sec. 1(1), (2), Mar. 30, 1999, 113 Stat. 9; Pub. L.

106-70, Sec. 1, Oct. 9, 1999, 113 Stat. 1031; Pub. L. 107-8, Sec.

1, May 11, 2001, 115 Stat. 10; Pub. L. 107-17, Sec. 1, June 26,

2001, 115 Stat. 151; Pub. L. 107-170, Sec. 1, May 7, 2002, 116

Stat. 133; Pub. L. 107-171, title X, Sec. 10814(a), May 13, 2002,

116 Stat. 532; Pub. L. 107-377, Sec. 2(a), Dec. 19, 2002, 116 Stat.

3115.)

-STATAMEND-

TERMINATION OF SECTION

For termination of reenactment of this section by section

149(a) of Pub. L. 105-277, as amended, see Repeal, Reenactment,

and Termination of Chapter note set out under section 1201 of

this title.

-COD-

CODIFICATION

For repeal of section effective Oct. 1, 1998, and subsequent

reenactment of section for specific periods, see note set out

preceding section 1201 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 106 of this title.

-CITE-