Compiled August, 2011
Our review of the annotated history for Title 11, United States Code section 546, with an emphasis on subdivision (e), reveals the following legislative history. Each public law (hereinafter referred to as Pub.L.) represents a separate congressional enactment or bill.
Added: Pub.L. 95–598, November 6, 1978, 92 Stat. 2597
Amended:
• Pub.L. 97–222, § 4, July 27, 1982, 96 Stat. 236: Subdivision (d). Pub.L. 97–222 added Subdivision (d).
• Pub.L. 98–353, title III, §§ 351, 393, 461, July 10, 1984, 98 Stat. 358, 365, 377: Subdivision (a)(1). Pub.L. 98–353, § 461(a), substituted “; or” for “; and”; Subdivision (b). Pub.L. 98–353, § 461(b), substituted “a trustee under sections 544, 545, and” for “the trustee under sections 544, 545, or”; Subdivision (c). Pub.L. 98–353, §§ 351(1), 461(c)(1)–(4), substituted “Except as provided in subsection (d) of this section, the” for “The”, substituted “a trustee” for “the trustee”, struck out “right” before “or common-law”, inserted “of goods that has sold goods to the debtor” after “seller”, and struck out “of goods to the debtor” after “business,”; Subdivision (c)(2). Pub.L. 98–353, § 461(c)(5)(A), inserted “the” after “if” in provisions preceding subpar. (A); Subdivision (c)(2)(A). Pub.L. 98–353, § 461(c)(5)(B), substituted “a claim of a kind specified in section 503(b) of this title” for “an administrative expense”; Subdivision (d). Pub.L. 98–353, § 351(3), added Subdivision (d). Former Subdivision (d) redesignated (e); Subdivision (e). Pub.L. 98–353, §§ 351(2), 461(d), redesignated former Subdivision (d) as (e) and inserted “financial institution” after “stockbroker”; Subdivision (f). Pub.L. 98–353, § 393, added Subdivision (f).
• Pub.L. 99–554, title II, §§ 257(d), 283(l), October 27, 1986, 100 Stat. 3114, 3117: Subdivision (a)(1). Pub.L. 99–554, § 257(d), inserted reference to section 1202 of this title; Subdivision (e). Pub.L. 99–554, § 283(l), inserted a comma after “stockbroker”.
• Pub.L. 101–311, title I, §103, title II, § 203, June 25, 1990, 104 Stat. 268, 269: Subdivision (e). Pub.L. 101–311, § 203, inserted reference to sections 101(34) and 101(35) of this title; Subdivision (g). Pub.L. 101–311, § 103, added Subdivision (g) relating to trustee’s authority to avoid transfer involving swap agreement.
• Pub.L. 103–394, title II, §§ 204(b), 209, 216, 222(a), title V, § 501(b)(4), October 22, 1994, 108 Stat. 4122, 4125, 4126, 4129, 4142: Subdivision (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”; Subdivision (b). Pub.L. 103–394, § 204(b), amended Subdivision (b) generally. Prior to amendment, Subdivision (b) read as follows: “The rights and powers of a trustee under sections 544, 545, and 549 of this title are subject to any generally applicable law that permits perfection of an interest in property to be effective against an entity that acquires rights in such property before the date of such perfection. If such law requires seizure of such property or commencement of an action to accomplish such perfection, and such property has not been seized or such action has not been commenced before the date of the filing of the petition, such interest in such property shall be perfected by notice within the time fixed by such law for such seizure or commencement.; Subdivision (c)(1). Pub.L. 103–394, § 209, amended par. (1) generally. Prior to amendment, par. (1) read as follows: “such a seller may not reclaim any such goods unless such seller demands in writing reclamation of such goods before ten days after receipt of such goods by the debtor; and”; Subdivision (e). Pub.L. 103–394, § 501(b)(4)(A), substituted “section 101, 741, or 761” for “section 101(34), 741(5), or 761(15)” and “section 101 or 741” for “section 101(35) or 741(8)”; Subdivision (f). Pub.L. 103–394, § 501(b)(4)(B), substituted “section 741 or 761” for “section 741(5) or 761(15)” and “section 741” for “section 741(8)”; Subdivision (g). Pub.L. 103–394, § 222(a), added Subdivision (g) relating to return of goods.
• Pub.L. 105–183, § 3(c), June 19, 1998, 112 Stat. 518: Subdivisions (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)”.
• Pub.L. 109–8, title IV, § 406, title IX, § 907(e), (o)(2), (3), title XII, § 1227(a), April 20, 2005, 119 Stat. 105, 177, 182, 199: Subdivision (c). Pub.L. 109–8, § 1227(a), amended Subdivision (c) generally. Prior to amendment, Subdivision (c) consisted of pars. (1) and (2) relating to reclamation of goods sold to an insolvent debtor; Subdivision (e). Pub.L. 109–8, § 907(o)(3), inserted “financial participant,” after “financial institution,”; Subdivision (f). Pub.L. 109–8, § 907(o)(2), inserted “or financial participant” after “repo participant”; Subdivision (g). Pub.L. 109–8, § 907(e)(1), struck out “under a swap agreement” after “avoid a transfer”, substituted “under or in connection with any swap agreement” for “in connection with a swap agreement”, and inserted “or financial participant” after “swap participant”; Pub.L. 109–8, § 406(1), redesignated Subdivision (g) relating to return of goods as (h); Subdivision (h). Pub. L. 109–8, § 406(2), inserted “and subject to the prior rights of holders of security interests in such goods or the proceeds of such goods” after “consent of a creditor”; Pub.L. 109–8, § 406(1), redesignated Subdivision (g) relating to return of goods as (h); Subdivision (i). Pub.L. 109–8, § 406(3), added Subdivision (i); Subdivision (j). Pub.L. 109–8, § 907(e)(2), added Subdivision (j).
• Pub.L. 109–390, § 5(b), December 12, 2006, 120 Stat. 2697: Subdivision (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,”; Subdivision (f). Pub.L. 109–390, § 5(b)(2), struck out “that is a margin payment, as defined in section 741 or 761 of this title, or settlement payment, as defined in section 741 of this title,” after “avoid a transfer” and inserted “(or for the benefit of)” before “a repo participant”; Subdivision (g). Pub.L. 109–390, § 5(b)(3), inserted “(or for the benefit of)” before “a swap participant”; Subdivision (j). Pub.L. 109–390, § 5(b)(4), inserted “(or for the benefit of)” before “a master netting agreement participant”.
Nine public laws affected your section of interest.
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