Los Angeles Bankruptcy Attorney, Bankruptcy Lawyer, Bankruptcy Code 11 USC Section 321

TITLE 11 - BANKRUPTCY
CHAPTER 3 - CASE ADMINISTRATION
    SUBCHAPTER II - OFFICERS

-HEAD-
    Sec. 321. Eligibility to serve as trustee

-STATUTE-
      (a) A person may serve as trustee in a case under this title only
    if such person is - 
        (1) an individual that is competent to perform the duties of
      trustee and, in a case under chapter 7, 12, or 13 of this title,
      resides or has an office in the judicial district within which
      the case is pending, or in any judicial district adjacent to such
      district; or
        (2) a corporation authorized by such corporation's charter or
      bylaws to act as trustee, and, in a case under chapter 7, 12, or
      13 of this title, having an office in at least one of such
      districts.

      (b) A person that has served as an examiner in the case may not
    serve as trustee in the case.
      (c) The United States trustee for the judicial district in which
    the case is pending is eligible to serve as trustee in the case if
    necessary.

-SOURCE-
    (Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2561; Pub. L. 98-353, title
    III, Sec. 428, July 10, 1984, 98 Stat. 369; Pub. L. 99-554, title
    II, Secs. 206, 257(c), Oct. 27, 1986, 100 Stat. 3098, 3114.)


                       HISTORICAL AND REVISION NOTES                   

                          LEGISLATIVE STATEMENTS                      
      Section 321 indicates that an examiner may not serve as a trustee
    in the case.

                         SENATE REPORT NO. 95-989                     
      Section 321 is adapted from current Bankruptcy Act Sec. 45
    [section 73 of former title 11] and Bankruptcy Rule 209. Subsection
    (a) specifies that an individual may serve as trustee in a
    bankruptcy case only if he is competent to perform the duties of
    trustee and resides or has an office in the judicial district
    within which the case is pending, or in an adjacent judicial
    district. A corporation must be authorized by its charter or bylaws
    to act as trustee, and, for chapter 7 or 13 cases, must have an
    office in any of the above mentioned judicial districts.

                                AMENDMENTS                            
      1986 - Subsec. (a). Pub. L. 99-554, Sec. 257(c), inserted
    reference to chapter 12 in two places.
      Subsec. (c). Pub. L. 99-554, Sec. 206, added subsec. (c).
      1984 - Subsec. (b). Pub. L. 98-353 substituted "the case" for "a
    case" after "an examiner in".

                     EFFECTIVE DATE OF 1986 AMENDMENT                 
      Effective date and applicability of amendment by section 206 of
    Pub. L. 99-554 dependent upon the judicial district involved, see
    section 302(d), (e) of Pub. L. 99-554, set out as a note under
    section 581 of Title 28, Judiciary and Judicial Procedure.
      Amendment by section 257 of Pub. L. 99-554 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.

                     EFFECTIVE DATE OF 1984 AMENDMENT                 
      Amendment 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.

-End-
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