Page:United States Statutes at Large Volume 90 Part 1.djvu/374

 9 0 STAT. 3 2 4 11 USC 416.

PUBLIC LAW 9 4 - 2 6 0 - - A P R. 8, 1976 " SEC. 96. POSTCONFIRMATTON MATTERS.— " (a) T I M E ALLOWED FOR DEPOSIT UNDER THE P L A N. — P r i o r to o r

promptly after confirmation of the plan, the court shall fix a time within which the petitioner shall deposit with the disbursing agent appointed by the court any consideration to be distributed under the plan. " (b) DUTIES OF PETITIONER.—The petitioner shall comply with the plan and the orders of the court relative to the plan, and shall take all actions necessary to c any out the plan. The court may direct the petitioner and other necessary parties to execute and deliver or to ]oin in the execution and delivery of any instniment required to effect a transfer of property under the plan and to perform such other acts including the satisfaction of a lien, as the court determines to be necessary for the consummation of the plan. " (c) DISTRIBUTION.—Distribution shall be made in accordance with the provisions of the plan to creditors whose claims have been allowed under section 88. Distribution may be made a t the date the order confirming the plan becomes final to holders of securities of record whose claims have not been disallowed. " (d) COMPLIANCE DATE.—Vhen a plan requires presentment or surrender of securities or the performance of any other action as a condition to participation under the plan, such action shall be taken not later than five years after the entry of the order of confirmation. A person who has not within such time presented or surrendered that person'^ securities or taken such other action required by the plan shall not participate in any distribution under the plan, and the cx)nsid6ration deposited with the disbursing agent for distribution to such person shall become the property of the petitioner. " (e) CONTINUING JURISDICTION.—The court may retain jurisdiction over the case for such period of time as the court determines is necessary for the succe^ful execution of the plan. "(f)

ORDER OR DECREE AS EVIDENCE AND NOTICE.—A certified copy of

any order o r decree entered by the court in a case under this chapter shall be evidence of the jurisdiction of the court, the regularity of the proceedings, and the fact that the order was made. A certified copy of an order providing for the transfer of any property dealt with by the plan shall be evidence of the transfer of title accordingly, and, if recorded as conveyances are recorded, shall i m part the same notice that a deed, if recorded, would impart. 11 USC 417.

" SEC. 97. E F F E C T OF EXCHANGE OF D E B T SECURITIES BEFORE D A T E

OF THE P E T I T I O N. — The exchange of new debt securities under the plan for claims covered by the plan, whether the exchange occurred before or after the date of the petition, does not limit or impair the effectiveness of the plan or of any provision of this chapter. The written consents of the holders of any securities outstanding as the result of any such exchange under the plan shall be included as acceptances of such plan in computing the acceptance required under section 92.

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