Page:United States Statutes at Large Volume 92 Part 2.djvu/1344

 92 STAT. 2624

PUBLIC LAW 95-598—NOV. 6, 1978 (4) if a plan is not accepted within any time fixed by the court; (5) denial of confirmation of a plan under section 943(b) of this title and denial of additional time for filing another plan or a modification of a plan; or (6) if the court has retained jurisdiction after confirmation of apian— (A) material default by the debtor with respect to a term of such plan; or (B) termination of such plan by reason of the occurrence of a condition specified in such plan. (b) The court shall dismiss a case under this chapter if confirmation is refused. SUBCHAPTER III — THE PLAN

11 USC 941.

11 USC 942.

11 USC 943.

Ante, p. 2555.

Ante, p. 2583.

11 USC 944.

Ante, p. 2578. Ante, p. 2579.

§ 941. Filing of plan The debtor shall file a plan for the adjustment of the debtor's debts. If such a plan is not filed with the petition, the debtor shall file such a plan at such later time as the court fixes. § 942. Modification of plan The debtor may modify the plan at any time before confirmation, but may not modify the plan so that the plan as modified fails to meet the requirements of this chapter. After the debtor files a modification, the plan as modified becomes the plan. § 943. Confirmation (a) A special tax payer may object to confirmation of a plan. (b) The court shall confirm the plan if— (1) the plan complies with the provisions of this title made applicable by sections 103(e) and 901 of this title; (2) the plan complies with the provisions of this chapter; (3) all amounts to be paid by the debtor or by any person for services or expenses in the case or incident to the plan have been fully disclosed and are reasonable; (4) the debtor is not prohibited by law from taking any action necessary to be taken to carry out the plan; (5) the plan provides that each holder of a claim of the kind specified in section 507(a)(1) of this title will receive, on account of such claim, property of a value, as of the effective date of the plan, equal to the allowed amount of such claim, except to the extent that the holder of a particular claim of such kind has waived such payment on such claim; and (6) the plan is in the best interests of creditors and is feasible. § 944. Effect of confirmation (a) The provisions of a confirmed plan bind the debtor and any creditor, whether or not— (1) a proof of such creditor's claim is filed or deemed filed under section 501 of this title; (2) such claim is allowed under section 502 of this title; or (3) such creditor has accepted the plan. (b) Except as provided in subsection (c) of this section, the debtor is discharged from all debts as of the time when— (1) the plan is confirmed; (2) the debtor deposits any consideration to be distributed under the plan with a disbursing agent appointed by the court; and (3) the court has determined—

�