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U.S. Code as of:
01/03/05
Section 24. Regulations respecting commodity broker debtors; definitions
(a) 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 -
(1) that certain cash, securities, other property, or commodity
contracts are to be included in or excluded from customer
property or member property;
(2) that certain cash, securities, other property, or commodity
contracts are to be specifically identifiable to a particular
customer in a specific capacity;
(3) the method by which the business of such commodity broker
is to be conducted or liquidated after the date of the filing of
the petition under such chapter, including the payment and
allocation of margin with respect to commodity contracts not
specifically identifiable to a particular customer pending their
orderly liquidation;
(4) any persons to which customer property and commodity
contracts may be transferred under section 766 of title 11; and
(5) how the net equity of a customer is to be determined.
(b) 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.
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