Page:United States Statutes at Large Volume 52.djvu/975

 PUBLIC LAWS-CH. 575-JUNE 22, 1938 Provisions of plan. "ARTICLE VIII-PROVISIONS OF PLAN "SEC. 646. A plan under this chapter- - "(1) shall include provisions dealing with unsecured debts gener- ally, upon any terms; "(2) may include provisions dealing with secured debts severally, upon any terms; "(3) may provide for priority of payment during the period of extension as between the secured and unsecured debts affected by the plan; "(4) shall include provisions for the submission of future earn- ings or wages of the debtor to the supervision and control of the court for the purpose of enforcing the plan; "(5) shall provide that the court may from time to time during the period of extension increase or reduce the amount of any of the installment payments provided by the plan, or extend or shorten the time for any such payments, where it shall be made to appear, after hearing upon such notice as the court may designate, that the cir- cumstances of the debtor so warrant or require; "(6) may include provisions for the rejection of executory con- tracts of the debtor; and "(7) may include any other appropriate provisions not incon- sistent with this chapter.· consmmation and "ARTICLE IX-CONFIRMATION AND CONSUIMATION OF PLANS plans. Plan accepted at SEC. 651. A plan which at the meeting of creditors, as provided meeting of creditors. Aie, p. 932. in section 633 of this Act, has been accepted in writing by all creditors affected thereby, whether or not their claims have been proved, shall be confirmed by the court when the debtor shall have made the deposit required under this chapter and under the plan, and if the court is satisfied that the plan and its acceptance are m good faith and have not been made or procured by any means, promises or acts forbidden by this Act. Plans not aepWd; "SEC. 652. If a plan has not been so accepted, an application for mato n oo the confirmation of the plan may be filed with the court within such time as the court shall have fixed in the notice of such meet- ing, or at or after such meeting and after, but not before- Condioti. '(1) it has been accepted in writing, if unsecured creditors are affected by the plan, by a majority in number of all such creditors whose claims have been proved and allowed before the conclusion of the meeting, which number shall represent a majority in amount of such claims, and by the secured creditors whose claims are dealt with by the plan; and "(2) the debtor has made the deposit of moneys required of him under this chapter and under the plan. uPropoas for oalra - "SEC. 653. Alterations or modifications of a plan may be proposed in writing by a debtor, with leave of court, at any time before the plan is confirmed. oep t'E by crd'tor.c" "SEC. 654. Unless the court finds that the proposed alteration or modification does not materially and adversely affect the interest of any creditor who has not in writing assented thereto, the court shall adjourn the meeting or, if closed, reopen the meeting, and may enter an order that any creditor who accepted the plan and who fails to file with the court within such reasonable time as shall be fixed in the order a rejection of the altered or modified plan, shall be deemed to have accepted the alterations or modifications and the plan so altered or modified, unless the previous acceptance pro- vides otherwise. [52 STAT.

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