11 USC 744 - Sec. 744. Executory contracts
11 USC - U.S. Code - Title 11: Bankruptcy (January 2004)
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Notwithstanding section 365(d)(1) of this title, the trustee shall assume or reject, under section 365 of this title, any executory contract of the debtor for the purchase or sale of a security in the ordinary course of the debtor's business, within a reasonable time after the date of the order for relief, but not to exceed 30 days. If the trustee does not assume such a contract within such time, such contract is rejected.
Historical And Revision Notes SENATE REPORT NO. 95-989 Section 744 instructs the court to give the trustee a reasonable time, not to exceed 30 days, to assume or reject any executory contract of the stockbroker to buy or sell securities.Any contract not assumed within the time fixed by the court is considered to be rejected.AMENDMENTS 1982 - Pub. L. 97-222 inserted "but" after "relief,". Section Referred To In Other Sections This section is referred to in section 106 of this title.
