Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section546&num=0&edition=prelim
Timestamp: 2020-03-29 19:54:47
Document Index: 224378106

Matched Legal Cases: ['§ 546', '§4', '§351', '§257', '§103', '§203', '§204', '§501', '§3', '§406', '§907', '§1227', '§5', '§5', '§1227', '§216', '§203', '§257', '§461']

[USC02] 11 USC 546: Limitations on avoiding powers
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11 USC 546: Limitations on avoiding powers Text contains those laws in effect on March 28, 2020
(a) An action or proceeding under section 544, 545, 547, 548, or 553 of this title may not be commenced after the earlier of-
(1) the later of-
(b)(1) The rights and powers of a trustee under sections 544, 545, and 549 of this title are subject to any generally applicable law that-
(c)(1) Except as provided in subsection (d) of this section and in section 507(c), and subject to the prior rights of a holder of a security interest in such goods or the proceeds thereof, the rights and powers of the trustee under sections 544(a), 545, 547, and 549 are subject to the right of a seller of goods that has sold goods to the debtor, in the ordinary course of such seller's business, to reclaim such goods if the debtor has received such goods while insolvent, within 45 days before the date of the commencement of a case under this title, but such seller may not reclaim such goods unless such seller demands in writing reclamation of such goods-
(d) In the case of a seller who is a producer of grain sold to a grain storage facility, owned or operated by the debtor, in the ordinary course of such seller's business (as such terms are defined in section 557 of this title) or in the case of a United States fisherman who has caught fish sold to a fish processing facility owned or operated by the debtor in the ordinary course of such fisherman's business, the rights and powers of the trustee under sections 544(a), 545, 547, and 549 of this title are subject to any statutory or common law right of such producer or fisherman to reclaim such grain or fish if the debtor has received such grain or fish while insolvent, but-
( Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2597 ; Pub. L. 97–222, §4, July 27, 1982, 96 Stat. 236 ; Pub. L. 98–353, title III, §§351, 393, 461, July 10, 1984, 98 Stat. 358 , 365, 377; Pub. L. 99–554, title II, §§257(d), 283(l), Oct. 27, 1986, 100 Stat. 3114 , 3117; Pub. L. 101–311, title I, §103, title II, §203, June 25, 1990, 104 Stat. 268 , 269; Pub. L. 103–394, title II, §§204(b), 209, 216, 222(a), title V, §501(b)(4), Oct. 22, 1994, 108 Stat. 4122 , 4125, 4126, 4129, 4142; Pub. L. 105–183, §3(c), June 19, 1998, 112 Stat. 518 ; Pub. L. 109–8, title IV, §406, title IX, §907(e), (o)(2), (3), title XII, §1227(a), Apr. 20, 2005, 119 Stat. 105 , 177, 182, 199; Pub. L. 109–390, §5(b), Dec. 12, 2006, 120 Stat. 2697 .)
2006-Subsec. (e). Pub. L. 109–390, §5(b)(1), inserted "(or for the benefit of)" before "a commodity broker" and "or that is a transfer made by or to (or for the benefit of) a commodity broker, forward contract merchant, stockbroker, financial institution, financial participant, or securities clearing agency, in connection with a securities contract, as defined in section 741(7), commodity contract, as defined in section 761(4), or forward contract," after "securities clearing agency,".
2005-Subsec. (c). Pub. L. 109–8, §1227(a), amended subsec. (c) generally. Prior to amendment, subsec. (c) consisted of pars. (1) and (2) relating to reclamation of goods sold to an insolvent debtor.
1998-Subsecs. (e) to (g). Pub. L. 105–183 substituted "548(a)(1)(B)" for "548(a)(2)" and "548(a)(1)(A)" for "548(a)(1)".
1994-Subsec. (a)(1). Pub. L. 103–394, §216, amended par. (1) generally. Prior to amendment, par. (1) read as follows: "two years after the appointment of a trustee under section 702, 1104, 1163, 1302, or 1202 of this title; or".
1990-Subsec. (e). Pub. L. 101–311, §203, inserted reference to sections 101(34) and 101(35) of this title.
1986-Subsec. (a)(1). Pub. L. 99–554, §257(d), inserted reference to section 1202 of this title.
1984-Subsec. (a)(1). Pub. L. 98–353, §461(a), substituted "; or" for "; and".
1982-Subsec. (d). Pub. L. 97–222 added subsec. (d).