7 U.S.C. § 24
Customer property with respect to commodity broker debtors; definitions
United States · Title 7 — AGRICULTURE · Status: effective
Cite this
- Citation
- 7 U.S.C. § 24, Customer property with respect to commodity broker debtors; definitions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/428479
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Full text
Notwithstanding title 11, the Commission may provide, with respect to a commodity broker that is a debtor under chapter 7 of title 11, by rule or regulation—
As used in this section, the terms “commodity broker”, “commodity contract”, “customer”, “customer property”, “member property”, “net equity”, and “security” have the meanings assigned such terms for the purposes of subchapter IV of chapter 7 of title 11.
The Commission shall exercise its authority to ensure that securities held in a portfolio margining account carried as a futures account are customer property and the owners of those accounts are customers for the purposes of subchapter IV of chapter 7 of title 11.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- A bill to establish a uniform law on the subject of bankruptcies.House: no recorded tallySenate: no recorded tally
- A bill to amend title 11, United States Code, to correct technical errors, and to clarify and make substantive changes, with respect to securities and commodities.House: no recorded tallySenate: no recorded tally
- Dodd-Frank Wall Street Reform and Consumer Protection Act