The law › Title 11, Bankruptcy › Chapter 5
11 U.S.C. 546: Limitations on avoiding powers
Created in 1978 by Public Law 95-598. Changed by 8 later laws. No bill we track in this Congress changes it.
2 other sections of the Code cite this one, including 11 U.S.C. 362, 11 U.S.C. 552.
1 part of federal rules cite it as their authority, written by Commodity Futures Trading Commission (1).
- past change
- enacted this Congress
- proposed
This Congress
No bill we track in the 119th Congress changes this section.
How it got here
2006
- 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 ag… (Financial Netting Improvements Act of 2006) Law text · (e)
- 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". (Financial Netting Improvements Act of 2006) Law text · (f)
- Pub. L. 109–390, §5(b)(3), inserted "(or for the benefit of)" before "a swap participant". (Financial Netting Improvements Act of 2006) Law text · (g)
- Pub. L. 109–390, §5(b)(4), inserted "(or for the benefit of)" before "a master netting agreement participant". (Financial Netting Improvements Act of 2006) Law text · (j)
2005
- Pub. L. 109–8, §1227(a), amended subsec. (c) generally. Prior to amendment, subsec. (c) consisted of pars. (1) and (2) relating to reclamation of goods sold to an insolvent debtor. (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) Law text · (c)
- Pub. L. 109–8, §907(o)(3), inserted "financial participant," after "financial institution,". (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) Law text · (e)
- Pub. L. 109–8, §907(o)(2), inserted "or financial participant" after "repo participant". (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) Law text · (f)
- 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". (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) Law text · (g)
- Pub. L. 109–8, §406(1), redesignated subsec. (g) relating to return of goods as (h). (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) Law text · (g)
- 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". (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) Law text · (h)
- Pub. L. 109–8, §406(1), redesignated subsec. (g) relating to return of goods as (h). (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) Law text · (h)
- Pub. L. 109–8, §406(3), added subsec. (i). (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) Law text · (i)
- Pub. L. 109–8, §907(e)(2), added subsec. (j). (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) Law text · (j)
1998
- Pub. L. 105–183 substituted "548(a)(1)(B)" for "548(a)(2)" and "548(a)(1)(A)" for "548(a)(1)". Law text · (e), (f), (g)
1994
- 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". · (a)
- Pub. L. 103–394, §204(b), amended subsec. (b) generally. Prior to amendment, subsec. (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… · (b)
- 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". · (c)
- 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)". · (e)
- 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)". · (f)
- Pub. L. 103–394, §222(a), added subsec. (g) relating to return of goods. · (g)
1990
- Pub. L. 101–311, §203, inserted reference to sections 101(34) and 101(35) of this title. · (e)
- Pub. L. 101–311, §103, added subsec. (g) relating to trustee's authority to avoid transfer involving swap agreement. · (g)
1986
- Pub. L. 99–554, §257(d), inserted reference to section 1202 of this title. · (a)
- Pub. L. 99–554, §283(l), inserted a comma after "stockbroker". · (e)
1984
- Pub. L. 98–353, §461(a), substituted "; or" for "; and". · (a)
- Pub. L. 98–353, §461(b), substituted "a trustee under sections 544, 545, and" for "the trustee under sections 544, 545, or". · (b)
- 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 st… · (c)
- Pub. L. 98–353, §461(c)(5)(A), inserted "the" after "if" in provisions preceding subpar. (A). · (c)
- 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". · (c)
- Pub. L. 98–353, §351(3), added subsec. (d). Former subsec. (d) redesignated (e). · (d)
- Pub. L. 98–353, §§351(2), 461(d), redesignated former subsec. (d) as (e) and inserted "financial institution" after "stockbroker". · (e)
- Pub. L. 98–353, §393, added subsec. (f). · (f)
1982
- Pub. L. 97–222 added subsec. (d). · (d)
Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.