Page:United States Statutes at Large Volume 52.djvu/976

 52 STAT.] 75TH CONG. , 3D SESS.-CH. 575-JUNE 22, 1938 "SEC. 655. At least ten days' notice of the adjourned or reopened meeting, together with a copy of the order, if entered, and of the proposed alteration or modification, shall be given to the creditors and other parties in interest. "SEC. 656. (a) The court shall confirm a plan if satisfied that- "(1) the provisions of this chapter have been complied with; " (2) it is for the best interests of the creditors; "(3) it is fair and equitable, and feasible; "(4) the debtor has not been guilty of any of the acts or failed to perform any of the duties which would be a bar to the discharge of a bankrupt; and "(5) the proposal and its acceptance are in good faith and have not been made or procured by any means, promises, or acts forbidden by this Act. "(b) Before confirming any such plan the court shall require proof from each creditor filing a claim that such claim is free from usury as defined by the laws of the place where the debt was contracted. "SEC. 657. Upon confirmation of a plan, the plan and its provi- sions shall be binding upon the debtor and upon all creditors of the debtor, whether or not they are affected by the plan or have accepted it or have filed their claims, and whether or not their claims have been scheduled or allowed or are allowable. "SEC. 658. During the period of extension, the court- "(1) shall retain jurisdiction of the debtor and his property for all purposes of the plan and its consummation and shall have super- vision and control of any agreement or assignment, provided for in the plan, in respect to any future earnings or wages of the debtor; and "(2) may issue such orders as may be requisite to effectuate the provisions of the plan, including orders directed to any employer of the debtor. An order directed to such employer may be enforced in the manner provided for the enforcement of judgments. "SEC. 659. In advance of distribution to creditors, there shall first be paid in full, out of the moneys paid in by or for the debtor, and the order of payment shall be- "(1) the actual and necessary costs and expenses of the referee; "(2) the actual and necessary costs and expenses of the trustee; "(3) the commissions to the referee of 1 per centunm, to be com- puted upon and payable out of the payments actually made by or for a debtor under the plan, which commissions shall be in addition to the fee of $10 to be paid to the referee out of the fees deposited by the debtor with the clerk of the court, and commissions to the trustee of 5 per centum to be computed upon and payable out of the payments actually made by or for a debtor under the plan; "(4) such reasonable fee to the attorney for the debtor as the court may allow for the professional services actually rendered by such attorney to the debtor in and in connection with the proceedings under this chapter; "(5) in the case of a pending bankruptcy proceeding superseded by a proceeding under this chapter, the costs, expenses, and fees of such bankruptcy proceeding; and " (6) the debts entitled to priority, in the order of priority, as pro- vided by subdivision a of section 64 of this Act. "SEC. 660. Upon compliance by the debtor with the provisions of the plan and upon the completion of all payments to be made there- under, the court shall enter an order discharging the debtor from all his debts and liabilities provided for by the plan, and all debts denied participation in the plan by section 643 of this Act, but 935 Notice to creditors, etc. Confirmation; find. ings by court. Effect of confirma- tion. Powers of court during period of ex- tension. Payments in ad- vance of distribution to creditors. Ante, p. 874. Discharge of debtor. Ante, p. 933.

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