Page:United States Statutes at Large Volume 100 Part 4.djvu/178

 100 STAT. 3106

11 USC 1202.

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^9 iff):3U 11

PUBLIC LAW 99-554—OCT. 27, 1986

"Qoi) 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' l l) 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. "§ 1202.Trustee 5f?lil> - A\ "(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)(l), 1106(a)(2), 1106(a)(6), 1106(a)(7), and 1203. "(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

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