# United States Code/Title 11/Chapter 1/Section 101

§ 101. Definitions
In this title the following definitions shall apply:
    (1) The term “accountant” means accountant authorized under applicable law to practice public accounting, and includes professional accounting association, corporation, or partnership, if so authorized.
    (2) The term "affiliate" means -
       (A) entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities -
          (i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or
          (ii) solely to secure a debt, if such entity has not in fact exercised such power to vote;
       (B) corporation 20 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor, or by an entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities -
          (i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or
          (ii) solely to secure a debt, if such entity has not in fact exercised such power to vote;
       (C) person whose business is operated under a lease or operating agreement by a debtor, or person substantially all of whose property is operated under an operating agreement with the debtor; or
       (D) entity that operates the business or substantially all of the property of the debtor under a lease or operatingagreement.
    (3) The term "assisted person" means any person whose debts consist primarily of consumer debts and the value of whose nonexempt property is less than $150,000.
    (4) The term "attorney" means attorney, professional law association, corporation, or partnership, authorized under applicable law to practice law.
    (4A) The term "bankruptcy assistance" means any goods or services sold or otherwise provided to an assisted person with the express or implied purpose of providing information, advice, counsel, document preparation, or filing, or attendance at a creditors' meeting or appearing in a case or proceeding on behalf of another or providing legal representation with respect to a case or proceeding under this title.
    (5) The term "claim" means -
       (A) right to payment, whether or not such right is reduced to
    judgment, liquidated, unliquidated, fixed, contingent, matured,
    unmatured, disputed, undisputed, legal, equitable, secured, or
    unsecured; or
       (B) right to an equitable remedy for breach of performance if
    such breach gives rise to a right to payment, whether or not
    such right to an equitable remedy is reduced to judgment,
    fixed, contingent, matured, unmatured, disputed, undisputed,
    secured, or unsecured.
    (6) The term "commodity broker" means futures commission
    (7) The term "community claim" means claim that arose before
    (7A) The term "commercial fishing operation" means -
       (A) the catching or harvesting of fish, shrimp, lobsters,
    urchins, seaweed, shellfish, or other aquatic species or
    products of such species; or
       (B) for purposes of section 109 and chapter 12, aquaculture
    activities consisting of raising for market any species or
    product described in subparagraph (A).
    (7B) The term "commercial fishing vessel" means a vessel used
    (8) The term "consumer debt" means debt incurred by an
    (9) The term "corporation" -
       (A) includes -
          (i) association having a power or privilege that a private
    corporation, but not an individual or a partnership,
    possesses;
          (ii) partnership association organized under a law that
    makes only the capital subscribed responsible for the debts
    of such association;
          (iii) joint-stock company;
          (iv) unincorporated company or association; or
          (v) business trust; but
       (B) does not include limited partnership.
    (10) The term "creditor" means -
       (A) entity that has a claim against the debtor that arose at
    the time of or before the order for relief concerning the
    debtor;
       (B) entity that has a claim against the estate of a kind
    specified in section 348(d), 502(f), 502(g), 502(h) or 502(i)
    of this title; or
       (C) entity that has a community claim.
    (10A) The term "current monthly income" -
       (A) means the average monthly income from all sources that
    the debtor receives (or in a joint case the debtor and the
    debtor's spouse receive) without regard to whether such income
    is taxable income, derived during the 6-month period ending on -
          (i) the last day of the calendar month immediately
    preceding the date of the commencement of the case if the
    debtor files the schedule of current income required by
    section 521(a)(1)(B)(ii); or
          (ii) the date on which current income is determined by the
    court for purposes of this title if the debtor does not file
    the schedule of current income required by section
    521(a)(1)(B)(ii); and
       (B) includes any amount paid by any entity other than the
    debtor (or in a joint case the debtor and the debtor's spouse),
    on a regular basis for the household expenses of the debtor or
    the debtor's dependents (and in a joint case the debtor's
    spouse if not otherwise a dependent), but excludes benefits
    received under the Social Security Act, payments to victims of
    war crimes or crimes against humanity on account of their
    status as victims of such crimes, and payments to victims of
    international terrorism (as defined in section 2331 of title
    18) or domestic terrorism (as defined in section 2331 of title
    18) on account of their status as victims of such terrorism.
    (11) The term "custodian" means -
       (A) receiver or trustee of any of the property of the debtor,
    appointed in a case or proceeding not under this title;
       (B) assignee under a general assignment for the benefit of
    the debtor's creditors; or
       (C) trustee, receiver, or agent under applicable law, or
    under a contract, that is appointed or authorized to take
    charge of property of the debtor for the purpose of enforcing a
    lien against such property, or for the purpose of general
    administration of such property for the benefit of the debtor's
    creditors.
    (12) The term "debt" means liability on a claim.
    (12A) The term "debt relief agency" means any person who
       (A) any person who is an officer, director, employee, or
    agent of a person who provides such assistance or of the
    bankruptcy petition preparer;
       (B) a nonprofit organization that is exempt from taxation
    under section 501(c)(3) of the Internal Revenue Code of 1986;
       (C) a creditor of such assisted person, to the extent that
    the creditor is assisting such assisted person to restructure
    any debt owed by such assisted person to the creditor;
       (D) a depository institution (as defined in section 3 of the
    Federal Deposit Insurance Act) or any Federal credit union or
    State credit union (as those terms are defined in section 101
    of the Federal Credit Union Act), or any affiliate or
    subsidiary of such depository institution or credit union; or
       (E) an author, publisher, distributor, or seller of works
    subject to copyright protection under title 17, when acting in
    such capacity.
    (13) The term "debtor" means person or municipality concerning
    (13A) The term "debtor's principal residence" -
       (A) means a residential structure, including incidental
    property, without regard to whether that structure is attached
    to real property; and
       (B) includes an individual condominium or cooperative unit, a
    mobile or manufactured home, or trailer.
    (14) The term "disinterested person" means a person that -
       (A) is not a creditor, an equity security holder, or an
    insider;
       (B) is not and was not, within 2 years before the date of the
    filing of the petition, a director, officer, or employee of the
    debtor; and
       (C) does not have an interest materially adverse to the
    interest of the estate or of any class of creditors or equity
    security holders, by reason of any direct or indirect
    relationship to, connection with, or interest in, the debtor,
    or for any other reason.
    (14A) The term "domestic support obligation" means a debt that
       (A) owed to or recoverable by -
          (i) a spouse, former spouse, or child of the debtor or such
    child's parent, legal guardian, or responsible relative; or
          (ii) a governmental unit;
       (B) in the nature of alimony, maintenance, or support
    (including assistance provided by a governmental unit) of such
    spouse, former spouse, or child of the debtor or such child's
    parent, without regard to whether such debt is expressly so
    designated;
       (C) established or subject to establishment before, on, or
    after the date of the order for relief in a case under this
    title, by reason of applicable provisions of -
          (i) a separation agreement, divorce decree, or property
    settlement agreement;
          (ii) an order of a court of record; or
          (iii) a determination made in accordance with applicable
    nonbankruptcy law by a governmental unit; and
       (D) not assigned to a nongovernmental entity, unless that
    obligation is assigned voluntarily by the spouse, former
    spouse, child of the debtor, or such child's parent, legal
    guardian, or responsible relative for the purpose of collecting
    the debt.
    (15) The term "entity" includes person, estate, trust,
    (16) The term "equity security" means -
       (A) share in a corporation, whether or not transferable or
    denominated "stock", or similar security;
       (B) interest of a limited partner in a limited partnership;
    or
       (C) warrant or right, other than a right to convert, to
    purchase, sell, or subscribe to a share, security, or interest
    of a kind specified in subparagraph (A) or (B) of this
    paragraph.
    (17) The term "equity security holder" means holder of an
    (18) The term "family farmer" means -
       (A) individual or individual and spouse engaged in a farming
    operation whose aggregate debts do not exceed $3,237,000 and
    not less than 50 percent of whose aggregate noncontingent,
    liquidated debts (excluding a debt for the principal residence
    of such individual or such individual and spouse unless such
    debt arises out of a farming operation), on the date the case
    is filed, arise out of a farming operation owned or operated by
    such individual or such individual and spouse, and such
    individual or such individual and spouse receive from such
    farming operation more than 50 percent of such individual's or
    such individual and spouse's gross income for -
          (i) the taxable year preceding; or
          (ii) each of the 2d and 3d taxable years preceding;
    the taxable year in which the case concerning such individual
    or such individual and spouse was filed; or
       (B) corporation or partnership in which more than 50 percent
    of the outstanding stock or equity is held by one family, or by
    one family and the relatives of the members of such family, and
    such family or such relatives conduct the farming operation,
    and
          (i) more than 80 percent of the value of its assets
    consists of assets related to the farming operation;
          (ii) its aggregate debts do not exceed $3,237,000 and not
    less than 50 percent of its aggregate noncontingent,
    liquidated debts (excluding a debt for one dwelling which is
    owned by such corporation or partnership and which a
    shareholder or partner maintains as a principal residence,
    unless such debt arises out of a farming operation), on the
    date the case is filed, arise out of the farming operation
    owned or operated by such corporation or such partnership;
    and
          (iii) if such corporation issues stock, such stock is not
    publicly traded.
    (19) The term "family farmer with regular annual income" means
    (19A) The term "family fisherman" means -
       (A) an individual or individual and spouse engaged in a
    commercial fishing operation -
          (i) whose aggregate debts do not exceed $1,500,000 and not
    less than 80 percent of whose aggregate noncontingent,
    liquidated debts (excluding a debt for the principal
    residence of such individual or such individual and spouse,
    unless such debt arises out of a commercial fishing
    operation), on the date the case is filed, arise out of a
    commercial fishing operation owned or operated by such
    individual or such individual and spouse; and
          (ii) who receive from such commercial fishing operation
    more than 50 percent of such individual's or such
    individual's and spouse's gross income for the taxable year
    preceding the taxable year in which the case concerning such
    individual or such individual and spouse was filed; or
       (B) a corporation or partnership -
          (i) in which more than 50 percent of the outstanding stock
    or equity is held by -
    (I) 1 family that conducts the commercial fishing
    operation; or
    (II) 1 family and the relatives of the members of such
    family, and such family or such relatives conduct the
    commercial fishing operation; and
          (ii)(I) more than 80 percent of the value of its assets
    consists of assets related to the commercial fishing
    operation;
          (II) its aggregate debts do not exceed $1,500,000 and not
    less than 80 percent of its aggregate noncontingent,
    liquidated debts (excluding a debt for 1 dwelling which is
    owned by such corporation or partnership and which a
    shareholder or partner maintains as a principal residence,
    unless such debt arises out of a commercial fishing
    operation), on the date the case is filed, arise out of a
    commercial fishing operation owned or operated by such
    corporation or such partnership; and
          (III) if such corporation issues stock, such stock is not
    publicly traded.
    (19B) The term "family fisherman with regular annual income"
    (20) The term "farmer" means (except when such term appears in
    (21) The term "farming operation" includes farming, tillage of
    (21A) The term "farmout agreement" means a written agreement in
       (A) the owner of a right to drill, produce, or operate liquid
    or gaseous hydrocarbons on property agrees or has agreed to
    transfer or assign all or a part of such right to another
    entity; and
       (B) such other entity (either directly or through its agents
    or its assigns), as consideration, agrees to perform drilling,
    reworking, recompleting, testing, or similar or related
    operations, to develop or produce liquid or gaseous
    hydrocarbons on the property.
    (21B) The term "Federal depository institutions regulatory
       (A) with respect to an insured depository institution (as
    defined in section 3(c)(2) of the Federal Deposit Insurance
    Act) for which no conservator or receiver has been appointed,
    the appropriate Federal banking agency (as defined in section
    3(q) of such Act);
       (B) with respect to an insured credit union (including an
    insured credit union for which the National Credit Union
    Administration has been appointed conservator or liquidating
    agent), the National Credit Union Administration;
       (C) with respect to any insured depository institution for
    which the Resolution Trust Corporation has been appointed
    conservator or receiver, the Resolution Trust Corporation; and
       (D) with respect to any insured depository institution for
    which the Federal Deposit Insurance Corporation has been
    appointed conservator or receiver, the Federal Deposit
    Insurance Corporation.
    (22) The term "financial institution" means -
       (A) a Federal reserve bank, or an entity (domestic or
    foreign) that is a commercial or savings bank, industrial
    savings bank, savings and loan association, trust company,
    federally-insured credit union, or receiver, liquidating agent,
    or conservator for such entity and, when any such Federal
    reserve bank, receiver, liquidating agent, conservator or
    entity is acting as agent or custodian for a customer in
    connection with a securities contract (as defined in section
    741) such customer; or
       (B) in connection with a securities contract (as defined in
    section 741) an investment company registered under the
    Investment Company Act of 1940.
    (22A) The term "financial participant" means -
       (A) an entity that, at the time it enters into a securities
    contract, commodity contract, swap agreement, repurchase
    agreement, or forward contract, or at the time of the date of
    the filing of the petition, has one or more agreements or
    transactions described in paragraph (1), (2), (3), (4), (5), or
    (6) of section 561(a) with the debtor or any other entity
    (other than an affiliate) of a total gross dollar value of not
    less than $1,000,000,000 in notional or actual principal amount
    outstanding on any day during the previous 15-month period, or
    has gross mark-to-market positions of not less than
    $100,000,000 (aggregated across counterparties) in one or more
    such agreements or transactions with the debtor or any other
    entity (other than an affiliate) on any day during the previous
    15-month period; or
       (B) a clearing organization (as defined in section 402 of the
    Federal Deposit Insurance Corporation Improvement Act of 1991).
    (23) The term "foreign proceeding" means a collective judicial
    (24) The term "foreign representative" means a person or body,
    (25) The term "forward contract" means -
       (A) a contract (other than a commodity contract) for the
    purchase, sale, or transfer of a commodity, as defined in
    section 761(8) of this title, or any similar good, article,
    service, right, or interest which is presently or in the future
    becomes the subject of dealing in the forward contract trade,
    or product or byproduct thereof, with a maturity date more than
    two days after the date the contract is entered into,
    including, but not limited to, a repurchase transaction,
    reverse repurchase transaction, consignment, lease, swap, hedge
    transaction, deposit, loan, option, allocated transaction,
    unallocated transaction, or any other similar agreement;
       (B) any combination of agreements or transactions referred to
    in subparagraphs (A) and (C);
       (C) any option to enter into an agreement or transaction
    referred to in subparagraph (A) or (B);
       (D) a master agreement that provides for an agreement or
    transaction referred to in subparagraph (A), (B), or (C),
    together with all supplements to any such master agreement,
    without regard to whether such master agreement provides for an
    agreement or transaction that is not a forward contract under
    this paragraph, except that such master agreement shall be
    considered to be a forward contract under this paragraph only
    with respect to each agreement or transaction under such master
    agreement that is referred to in subparagraph (A), (B), or (C);
    or
       (E) any security agreement or arrangement, or other credit
    enhancement related to any agreement or transaction referred to
    in subparagraph (A), (B), (C), or (D), including any guarantee
    or reimbursement obligation by or to a forward contract
    merchant or financial participant in connection with any
    agreement or transaction referred to in any such subparagraph,
    but not to exceed the damages in connection with any such
    agreement or transaction, measured in accordance with section
    562.
    (26) The term "forward contract merchant" means a Federal
    (27) The term "governmental unit" means United States; State;
    (27A) The term "health care business" -
       (A) means any public or private entity (without regard to
    whether that entity is organized for profit or not for profit)
    that is primarily engaged in offering to the general public
    facilities and services for -
          (i) the diagnosis or treatment of injury, deformity, or
    disease; and
          (ii) surgical, drug treatment, psychiatric, or obstetric
    care; and
       (B) includes -
          (i) any -
    (I) general or specialized hospital;
    (II) ancillary ambulatory, emergency, or surgical
    treatment facility;
    (III) hospice;
    (IV) home health agency; and
    (V) other health care institution that is similar to an
    entity referred to in subclause (I), (II), (III), or (IV);
    and
          (ii) any long-term care facility, including any -
    (I) skilled nursing facility;
    (II) intermediate care facility;
    (III) assisted living facility;
    (IV) home for the aged;
    (V) domiciliary care facility; and
    (VI) health care institution that is related to a
    facility referred to in subclause (I), (II), (III), (IV),
    or (V), if that institution is primarily engaged in
    offering room, board, laundry, or personal assistance with
    activities of daily living and incidentals to activities of
    daily living.
    (27B) The term "incidental property" means, with respect to a
       (A) property commonly conveyed with a principal residence in
    the area where the real property is located;
       (B) all easements, rights, appurtenances, fixtures, rents,
    royalties, mineral rights, oil or gas rights or profits, water
    rights, escrow funds, or insurance proceeds; and
       (C) all replacements or additions.
    (28) The term "indenture" means mortgage, deed of trust, or
    (29) The term "indenture trustee" means trustee under an
    (30) The term "individual with regular income" means individual
    (31) The term "insider" includes -
       (A) if the debtor is an individual -
          (i) relative of the debtor or of a general partner of the
    debtor;
          (ii) partnership in which the debtor is a general partner;
          (iii) general partner of the debtor; or
          (iv) corporation of which the debtor is a director,
    officer, or person in control;
       (B) if the debtor is a corporation -
          (i) director of the debtor;
          (ii) officer of the debtor;
          (iii) person in control of the debtor;
          (iv) partnership in which the debtor is a general partner;
          (v) general partner of the debtor; or
          (vi) relative of a general partner, director, officer, or
    person in control of the debtor;
       (C) if the debtor is a partnership -
          (i) general partner in the debtor;
          (ii) relative of a general partner in, general partner of,
    or person in control of the debtor;
          (iii) partnership in which the debtor is a general partner;
          (iv) general partner of the debtor; or
          (v) person in control of the debtor;
       (D) if the debtor is a municipality, elected official of the
    debtor or relative of an elected official of the debtor;
       (E) affiliate, or insider of an affiliate as if such
    affiliate were the debtor; and
       (F) managing agent of the debtor.
    (32) The term "insolvent" means -
       (A) with reference to an entity other than a partnership and
    a municipality, financial condition such that the sum of such
    entity's debts is greater than all of such entity's property,
    at a fair valuation, exclusive of -
          (i) property transferred, concealed, or removed with intent
    to hinder, delay, or defraud such entity's creditors; and
          (ii) property that may be exempted from property of the
    estate under section 522 of this title;
       (B) with reference to a partnership, financial condition such
    that the sum of such partnership's debts is greater than the
    aggregate of, at a fair valuation -
          (i) all of such partnership's property, exclusive of
    property of the kind specified in subparagraph (A)(i) of this
    paragraph; and
          (ii) the sum of the excess of the value of each general
    partner's nonpartnership property, exclusive of property of
    the kind specified in subparagraph (A) of this paragraph,
    over such partner's nonpartnership debts; and
       (C) with reference to a municipality, financial condition
    such that the municipality is -
          (i) generally not paying its debts as they become due
    unless such debts are the subject of a bona fide dispute; or
          (ii) unable to pay its debts as they become due.
    (33) The term "institution-affiliated party" -
       (A) with respect to an insured depository institution (as
    defined in section 3(c)(2) of the Federal Deposit Insurance
    Act), has the meaning given it in section 3(u) of the Federal
    Deposit Insurance Act; and
       (B) with respect to an insured credit union, has the meaning
    given it in section 206(r) of the Federal Credit Union Act.
    (34) The term "insured credit union" has the meaning given it
    (35) The term "insured depository institution" -
       (A) has the meaning given it in section 3(c)(2) of the
    Federal Deposit Insurance Act; and
       (B) includes an insured credit union (except in the case of
    paragraphs (23) and (35) of this subsection).
    (35A) The term "intellectual property" means -
       (A) trade secret;
       (B) invention, process, design, or plant protected under
    title 35;
       (C) patent application;
       (D) plant variety;
       (E) work of authorship protected under title 17; or
       (F) mask work protected under chapter 9 of title 17;
    (36) The term "judicial lien" means lien obtained by judgment,
    (37) The term "lien" means charge against or interest in
    (38) The term "margin payment" means, for purposes of the
    (38A) The term "master netting agreement" -
       (A) means an agreement providing for the exercise of rights,
    including rights of netting, setoff, liquidation, termination,
    acceleration, or close out, under or in connection with one or
    more contracts that are described in any one or more of
    paragraphs (1) through (5) of section 561(a), or any security
    agreement or arrangement or other credit enhancement related to
    one or more of the foregoing, including any guarantee or
    reimbursement obligation related to 1 or more of the foregoing;
    and
       (B) if the agreement contains provisions relating to
    agreements or transactions that are not contracts described in
    paragraphs (1) through (5) of section 561(a), shall be deemed
    to be a master netting agreement only with respect to those
    agreements or transactions that are described in any one or
    more of paragraphs (1) through (5) of section 561(a).
    (38B) The term "master netting agreement participant" means an
    (39) The term "mask work" has the meaning given it in section
    (39A) The term "median family income" means for any year -
       (A) the median family income both calculated and reported by
    the Bureau of the Census in the then most recent year; and
       (B) if not so calculated and reported in the then current
    year, adjusted annually after such most recent year until the
    next year in which median family income is both calculated and
    reported by the Bureau of the Census, to reflect the percentage
    change in the Consumer Price Index for All Urban Consumers
    during the period of years occurring after such most recent
    year and before such current year.
    (40) The term "municipality" means political subdivision or
    (40A) The term "patient" means any individual who obtains or
    (40B) The term "patient records" means any written document
    (41) The term "person" includes individual, partnership, and
       (A) acquires an asset from a person -
          (i) as a result of the operation of a loan guarantee
    agreement; or
          (ii) as receiver or liquidating agent of a person;
       (B) is a guarantor of a pension benefit payable by or on
    behalf of the debtor or an affiliate of the debtor; or
       (C) is the legal or beneficial owner of an asset of -
          (i) an employee pension benefit plan that is a governmental
    plan, as defined in section 414(d) of the Internal Revenue
    Code of 1986; or
          (ii) an eligible deferred compensation plan, as defined in
    section 457(b) of the Internal Revenue Code of 1986;
    (41A) The term "personally identifiable information" means -
       (A) if provided by an individual to the debtor in connection
    with obtaining a product or a service from the debtor primarily
    for personal, family, or household purposes -
          (i) the first name (or initial) and last name of such
    individual, whether given at birth or time of adoption, or
    resulting from a lawful change of name;
          (ii) the geographical address of a physical place of
    residence of such individual;
          (iii) an electronic address (including an e-mail address)
    of such individual;
          (iv) a telephone number dedicated to contacting such
    individual at such physical place of residence;
          (v) a social security account number issued to such
    individual; or
          (vi) the account number of a credit card issued to such
    individual; or
       (B) if identified in connection with 1 or more of the items
    of information specified in subparagraph (A) -
          (i) a birth date, the number of a certificate of birth or
    adoption, or a place of birth; or
          (ii) any other information concerning an identified
    individual that, if disclosed, will result in contacting or
    identifying such individual physically or electronically.
    (42) The term "petition" means petition filed under section
    (42A) The term "production payment" means a term overriding
       (A) contingent on the production of a liquid or gaseous
    hydrocarbon from particular real property; and
       (B) from a specified volume, or a specified value, from the
    liquid or gaseous hydrocarbon produced from such property, and
    determined without regard to production costs.
    (43) The term "purchaser" means transferee of a voluntary
    (44) The term "railroad" means common carrier by railroad
    (45) The term "relative" means individual related by affinity
    (46) The term "repo participant" means an entity that, at any
    (47) The term "repurchase agreement" (which definition also
       (A) means -
          (i) an agreement, including related terms, which provides
    for the transfer of one or more certificates of deposit,
    mortgage related securities (as defined in section 3 of the
    Securities Exchange Act of 1934), mortgage loans, interests
    in mortgage related securities or mortgage loans, eligible
    bankers' acceptances, qualified foreign government securities
       (defined as a security that is a direct obligation of, or
    that is fully guaranteed by, the central government of a
    member of the Organization for Economic Cooperation and
    Development), or securities that are direct obligations of,
    or that are fully guaranteed by, the United States or any
    agency of the United States against the transfer of funds by
    the transferee of such certificates of deposit, eligible
    bankers' acceptances, securities, mortgage loans, or
    interests, with a simultaneous agreement by such transferee
    to transfer to the transferor thereof certificates of
    deposit, eligible bankers' acceptance, securities, mortgage
    loans, or interests of the kind described in this clause, at
    a date certain not later than 1 year after such transfer or
    on demand, against the transfer of funds;
          (ii) any combination of agreements or transactions referred
    to in clauses (i) and (iii);
          (iii) an option to enter into an agreement or transaction
    referred to in clause (i) or (ii);
          (iv) a master agreement that provides for an agreement or
    transaction referred to in clause (i), (ii), or (iii),
    together with all supplements to any such master agreement,
    without regard to whether such master agreement provides for
    an agreement or transaction that is not a repurchase
    agreement under this paragraph, except that such master
    agreement shall be considered to be a repurchase agreement
    under this paragraph only with respect to each agreement or
    transaction under the master agreement that is referred to in
    clause (i), (ii), or (iii); or
          (v) any security agreement or arrangement or other credit
    enhancement related to any agreement or transaction referred
    to in clause (i), (ii), (iii), or (iv), including any
    guarantee or reimbursement obligation by or to a repo
    participant or financial participant in connection with any
    agreement or transaction referred to in any such clause, but
    not to exceed the damages in connection with any such
    agreement or transaction, measured in accordance with section
    562 of this title; and
       (B) does not include a repurchase obligation under a
    participation in a commercial mortgage loan.
    (48) The term "securities clearing agency" means person that is
    (48A) The term "securities self regulatory organization" means
    (49) The term "security" -
       (A) includes -
          (i) note;
          (ii) stock;
          (iii) treasury stock;
          (iv) bond;
          (v) debenture;
          (vi) collateral trust certificate;
          (vii) pre-organization certificate or subscription;
          (viii) transferable share;
          (ix) voting-trust certificate;
          (x) certificate of deposit;
          (xi) certificate of deposit for security;
          (xii) investment contract or certificate of interest or
    participation in a profit-sharing agreement or in an oil,
    gas, or mineral royalty or lease, if such contract or
    interest is required to be the subject of a registration
    statement filed with the Securities and Exchange Commission
    under the provisions of the Securities Act of 1933, or is
    exempt under section 3(b) of such Act from the requirement to
    file such a statement;
          (xiii) interest of a limited partner in a limited
    partnership;
          (xiv) other claim or interest commonly known as "security";
    and
          (xv) certificate of interest or participation in, temporary
    or interim certificate for, receipt for, or warrant or right
    to subscribe to or purchase or sell, a security; but
       (B) does not include -
          (i) currency, check, draft, bill of exchange, or bank
    letter of credit;
          (ii) leverage transaction, as defined in section 761 of
    this title;
          (iii) commodity futures contract or forward contract;
          (iv) option, warrant, or right to subscribe to or purchase
    or sell a commodity futures contract;
          (v) option to purchase or sell a commodity;
          (vi) contract or certificate of a kind specified in
    subparagraph (A)(xii) of this paragraph that is not required
    to be the subject of a registration statement filed with the
    Securities and Exchange Commission and is not exempt under
    section 3(b) of the Securities Act of 1933 from the
    requirement to file such a statement; or
          (vii) debt or evidence of indebtedness for goods sold and
    delivered or services rendered.
    (50) The term "security agreement" means agreement that creates
    (51) The term "security interest" means lien created by an
    (51A) The term "settlement payment" means, for purposes of the
    (51B) The term "single asset real estate" means real property
    (51C) The term "small business case" means a case filed under
    (51D) The term "small business debtor" -
       (A) subject to subparagraph (B), means a person engaged in
    commercial or business activities (including any affiliate of
    such person that is also a debtor under this title and
    excluding a person whose primary activity is the business of
    owning or operating real property or activities incidental
    thereto) that has aggregate noncontingent liquidated secured
    and unsecured debts as of the date of the petition or the date
    of the order for relief in an amount not more than $2,000,000
    (excluding debts owed to 1 or more affiliates or insiders) for
    a case in which the United States trustee has not appointed
    under section 1102(a)(1) a committee of unsecured creditors or
    where the court has determined that the committee of unsecured
    creditors is not sufficiently active and representative to
    provide effective oversight of the debtor; and
       (B) does not include any member of a group of affiliated
    debtors that has aggregate noncontingent liquidated secured and
    unsecured debts in an amount greater than $2,000,000 (excluding
    debt owed to 1 or more affiliates or insiders).
    (52) The term "State" includes the District of Columbia and
    (53) The term "statutory lien" means lien arising solely by
    (53A) The term "stockbroker" means person -
       (A) with respect to which there is a customer, as defined in
    section 741 of this title; and
       (B) that is engaged in the business of effecting transactions
    in securities -
          (i) for the account of others; or
          (ii) with members of the general public, from or for such
    person's own account.
    (53B) The term "swap agreement" -
       (A) means -
          (i) any agreement, including the terms and conditions
    incorporated by reference in such agreement, which is -
    (I) an interest rate swap, option, future, or forward
    agreement, including a rate floor, rate cap, rate collar,
    cross-currency rate swap, and basis swap;
    (II) a spot, same day-tomorrow, tomorrow-next, forward,
    or other foreign exchange or precious metals agreement;
    (III) a currency swap, option, future, or forward
    agreement;
    (IV) an equity index or equity swap, option, future, or
    forward agreement;
    (V) a debt index or debt swap, option, future, or forward
    agreement;
    (VI) a total return, credit spread or credit swap,
    option, future, or forward agreement;
    (VII) a commodity index or a commodity swap, option,
    future, or forward agreement; or
    (VIII) a weather swap, weather derivative, or weather
    option;
          (ii) any agreement or transaction that is similar to any
    other agreement or transaction referred to in this paragraph
    and that -
    (I) is of a type that has been, is presently, or in the
    future becomes, the subject of recurrent dealings in the
    swap markets (including terms and conditions incorporated
    by reference therein); and
    (II) is a forward, swap, future, or option on one or more
    rates, currencies, commodities, equity securities, or other
    equity instruments, debt securities or other debt
    instruments, quantitative measures associated with an
    occurrence, extent of an occurrence, or contingency
    associated with a financial, commercial, or economic
    consequence, or economic or financial indices or measures
    of economic or financial risk or value;
          (iii) any combination of agreements or transactions
    referred to in this subparagraph;
          (iv) any option to enter into an agreement or transaction
    referred to in this subparagraph;
          (v) a master agreement that provides for an agreement or
    transaction referred to in clause (i), (ii), (iii), or (iv),
    together with all supplements to any such master agreement,
    and without regard to whether the master agreement contains
    an agreement or transaction that is not a swap agreement
    under this paragraph, except that the master agreement shall
    be considered to be a swap agreement under this paragraph
    only with respect to each agreement or transaction under the
    master agreement that is referred to in clause (i), (ii),
       (iii), or (iv); or
          (vi) any security agreement or arrangement or other credit
    enhancement related to any agreements or transactions
    referred to in clause (i) through (v), including any
    guarantee or reimbursement obligation by or to a swap
    participant or financial participant in connection with any
    agreement or transaction referred to in any such clause, but
    not to exceed the damages in connection with any such
    agreement or transaction, measured in accordance with section
    562; and
       (B) is applicable for purposes of this title only, and shall
    not be construed or applied so as to challenge or affect the
    characterization, definition, or treatment of any swap
    agreement under any other statute, regulation, or rule,
    including the Securities Act of 1933, the Securities Exchange
    Act of 1934, the Public Utility Holding Company Act of 1935,
    the Trust Indenture Act of 1939, the Investment Company Act of
    1940, the Investment Advisers Act of 1940, the Securities
    Investor Protection Act of 1970, the Commodity Exchange Act,
    the Gramm-Leach-Bliley Act, and the Legal Certainty for Bank
    Products Act of 2000.
    (53C) The term "swap participant" means an entity that, at any
    (56A) (!2) The term "term overriding royalty" means an interest
    (53D) The term "timeshare plan" means and shall include that
    (54) The term "transfer" means -
       (A) the creation of a lien;
       (B) the retention of title as a security interest;
       (C) the foreclosure of a debtor's equity of redemption; or
       (D) each mode, direct or indirect, absolute or conditional,
    voluntary or involuntary, of disposing of or parting with -
          (i) property; or
          (ii) an interest in property.
    (54A) The term "uninsured State member bank" means a State
    (55) The term "United States", when used in a geographical
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       HISTORICAL AND REVISION NOTES::
          LEGISLATIVE STATEMENTS::
          SENATE REPORT NO. 95-989::
-REFTEXT-
          REFERENCES IN TEXT:::
-MISC2-
             AMENDMENTS:::
    "(i) the taxable year preceding; or
    "(ii) each of the 2d and 3d taxable years preceding;
       EFFECTIVE DATE OF 2005 AMENDMENT::
    "(1) In general. - Except as otherwise provided in this Act and
    "(2) Certain limitations applicable to debtors. - The
       EFFECTIVE DATE OF 1994 AMENDMENT::
       EFFECTIVE DATE OF 1992 AMENDMENT::
       EFFECTIVE DATE OF 1988 AMENDMENTS::
       EFFECTIVE DATE OF 1986 AMENDMENT::
       EFFECTIVE DATE OF 1984 AMENDMENT::
       SHORT TITLE OF 2005 AMENDMENT::
       SHORT TITLE OF 2004 AMENDMENT::
       SHORT TITLE OF 2003 AMENDMENT::
       SHORT TITLE OF 2002 AMENDMENT::
       SHORT TITLE OF 1998 AMENDMENT::
       SHORT TITLE OF 1994 AMENDMENT::
       SHORT TITLE OF 1990 AMENDMENTS::
       SHORT TITLE OF 1988 AMENDMENT::
       SHORT TITLE OF 1984 AMENDMENT::
          SEPARABILITY:::
          CONSTRUCTION:::
       NONLIMITATION OF INFORMATION::
          JUDICIAL EDUCATION::
-FOOTNOTE-