11 U.S. Code § 946 - Effect of exchange of securities before the date of the filing of the petition

prev | next
The exchange of a new security under the plan for a claim covered by the plan, whether such exchange occurred before or after the date of the filing of the petition, does not limit or impair the effectiveness of the plan or of any provision of this chapter. The amount and number specified in section 1126 (c) of this title include the amount and number of claims formerly held by a creditor that has participated in any such exchange.


(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2625.)
Historical and Revision Notes

legislative statements

The House amendment deletes section 950 of the Senate amendment as unnecessary. The constitutionality of chapter 9 of the House amendment is beyond doubt.
senate report no. 95–989

[Section 949] This section [enacted as section 946], which follows section 97 of current law [section 417 of former title 11], permits an exchange of a security before the case is filed to constitute an acceptance of the plan if the exchange was under a proposal that later becomes the plan.

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.

11 USCDescription of ChangeSession YearPublic LawStatutes at Large


LII has no control over and does not endorse any external Internet site that contains links to or references LII.