(a)For purposes of this section, the term “profitability” means, with respect to a debtor, the amount of money that the debtor has earned or lost during current and recent fiscal periods.
(b)A debtor in a small business case shall file periodic financial and other reports containing information including—
(1)the debtor’s profitability;
(2)reasonable approximations of the debtor’s projected cash receipts and cash disbursements over a reasonable period;
(3)comparisons of actual cash receipts and disbursements with projections in prior reports;
(4)whether the debtor is—
(A)in compliance in all material respects with postpetition requirements imposed by this title and the Federal Rules of Bankruptcy Procedure; and
(B)timely filing tax returns and other required government filings and paying taxes and other administrative expenses when due;
(5)if the debtor is not in compliance with the requirements referred to in paragraph (4)(A) or filing tax returns and other required government filings and making the payments referred to in paragraph (4)(B), what the failures are and how, at what cost, and when the debtor intends to remedy such failures; and
(6)such other matters as are in the best interests of the debtor and creditors, and in the public interest in fair and efficient procedures under chapter
11 of this title.
The Federal Rules of Bankruptcy Procedure, referred to in subsec. (b)(4)(A), are set out in the Appendix to this title.
2010—Subsec. (b). Pub. L. 111–327, § 2(a)(10)(A), substituted “debtor in a small business case” for “small business debtor” in introductory provisions.
Subsec. (b)(4) to (6). Pub. L. 111–327, § 2(a)(10)(B), struck out subpar. (A) designation before “whether the debtor” in par. (4) and redesignated cls. (i) and (ii) of former subpar. (A) as subpars. (A) and (B), respectively, redesignated former subpars. (B) and (C) of par. (4) as pars. (5) and (6), respectively, and, in par. (5), substituted “paragraph (4)(A)” for “subparagraph (A)(i)” and “paragraph (4)(B)” for “subparagraph (A)(ii)”.
Pub. L. 109–8, title IV, § 434(b),Apr. 20, 2005, 119 Stat. 111, provided that: “The amendments made by subsection (a) [enacting this section] shall take effect 60 days after the date on which rules are prescribed under section
2075 of title
28, United States Code, to establish forms to be used to comply with section
308 of title
11, United States Code, as added by subsection (a) [See Bankruptcy Form No. 25C, eff. Dec. 1, 2008].”
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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