(a)
Accounts held by the debtor for a particular
customer in separate capacities shall be treated as accounts of separate
customers.
(b)
A member of a
clearing organization shall be deemed to hold such member’s proprietary account in a separate capacity from such member’s
customers’ account.
Historical and Revision Notes
senate report no. 95–989
Section 763 provides for separate treatment of accounts held in separate capacities. A deficit in one account held for a customer may not be offset against the net equity in another account held by the same customer in a separate capacity or held by another customer.
Editorial Notes
Amendments
1984—Subsec. (a). Pub. L. 98–353 substituted “by the debtor for” for “by” and “treated as” for “deemed to be”.
Statutory Notes and Related Subsidiaries
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