§702. Election of trustee — Inbound Citations
11 U.S.C. § 702
Cited by 14 provisions in release 119-102.
Citations to 11 U.S.C. § 702 as a whole
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(a) Except as provided in subsection (b)(1), a person selected under section 701, 702, 703, 1104, 1163, 1183, 1202, or 1302 of this title to serve as trustee in a case under this title qualifies if before seven days after such selection, and before beginning official duties, such person has filed with the court a bond in favor of the United States conditioned on the faithful performance of such official duties.
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(C) If a trustee is appointed or elected under section 701, 702, 703, 1104, 1202, or 1302, the administrative expenses of the trustee allowed under paragraphs (1)(A), (2), and (6) of section 503(b) shall be paid before payment of claims under subparagraphs (A) and (B), to the extent that the trustee administers assets that are otherwise available for the payment of such claims.
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(3) subject to sections 701, 702, 703, 1104, 1183, 1202, and 1302 of this title, the appointment of a trustee or examiner and the retention and compensation of any professional person required to assist with respect to matters relevant to the determination of interests in or disposition of such grain or the proceeds of grain; and
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(b) The service of an interim trustee under this section terminates when a trustee elected or designated under section 702 of this title to serve as trustee in the case qualifies under section 322 of this title.
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(a) If a trustee dies or resigns during a case, fails to qualify under section 322 of this title, or is removed under section 324 of this title, creditors may elect, in the manner specified in section 702 of this title, a person to fill the vacancy in the office of trustee.
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(1) Except as provided in section 1163 of this title, on the request of a party in interest made not later than 30 days after the court orders the appointment of a trustee under subsection (a), the United States trustee shall convene a meeting of creditors for the purpose of electing one disinterested person to serve as trustee in the case. The election of a trustee shall be conducted in the manner provided in subsections (a), (b), and (c) of section 702 of this title.
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(d) Unless the court orders otherwise, after the qualification of a trustee selected under § 702, the interim trustee must:(1) promptly deliver to the trustee all the records and property of the estate that are in the interim trustee’s possession or under its control; and(2) within 30 days after the trustee qualifies, file a final report and account.
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(b) Except in a case under Subchapter V of Chapter 7 or Subchapter V of Chapter 11, any debtor’s creditors may elect a separate trustee for the debtor’s estate under § 702—even if the court orders joint administration under Rule 1015(b).
Citations to §702(a)
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(a) At the meeting under section 341(a) of this title, creditors that may vote for a trustee under section 702(a) of this title may elect a committee of not fewer than three, and not more than eleven, creditors, each of whom holds an allowable unsecured claim of a kind entitled to distribution under section 726(a)(2) of this title.
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(i) the creditor has filed a proof of claim or a writing setting forth facts evidencing a right to vote under § 702(a);
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(B) are not disqualified from voting under § 702(a); and
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(B) any entity not qualified to vote under § 702(a);
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(1) it was selected by a majority in number and amount of claims of unsecured creditors who are entitled to vote under § 702(a) and who were present or represented at a meeting where:(A) all creditors with unsecured claims of over $1,000—or the 100 unsecured creditors with the largest claims—had at least 7 days’ written notice; and(B) written minutes reporting the voting creditors’ names and the amounts of their claims are available for inspection;